May 15, 2014
Georgia Power announced plans to build, own and operate three separate solar generation facilities on U.S. Army bases in Georgia. The generation facilities, each capable of producing approximately 30 megawatts (MW) AC of solar energy, will be located at Fort Stewart near Savannah, Fort Benning near Columbus and Fort Gordon near Augusta. Scheduled to be completed by the end of 2016, the facilities are expected to be the largest solar generation facilities operating on U.S. military bases. The announcement was made as part of the company's updated Renewable Resource Action Plan filed with the Georgia Public Service Commission (PSC).
"Through constructive regulation and thoughtful energy policy planning, Georgia is leading the way in developing cost-effective solar generation for customers," said Norrie McKenzie, vice president of renewable development for Georgia Power. "The agreement with the U.S. Army not only marks another step for Georgia Power's solar initiatives, but further enhances the state's position as a solar leader and will strengthen both the bases and the surrounding communities."
As part of the review and approval of the company's 2007 Integrated Resource Plan, the Georgia PSC approved the development of three cost-effective renewable projects of less than 30 MW to be owned by Georgia Power. The three projects will be brought online at or below the company's avoided cost, the amount projected it would cost the company to generate comparable energy from other sources.
Georgia Power is committed to developing economical renewable energy as part of a balanced generation portfolio including new nuclear, advanced coal and natural gas, as well as energy efficiency. By 2016, the company projects it will have a solar portfolio of nearly 900 MW – the largest voluntary solar portfolio in the nation. In addition to the new solar projects with the U.S. Army, the company anticipates more than 500 new solar projects will be brought online in the coming years through existing solar programs including the Large-Scale Solar initiative and Georgia Power Advanced Solar Initiative.
About Georgia Power
Georgia Power is the largest subsidiary of Southern Company (NYSE: SO), the premier energy company serving the Southeast through its subsidiaries. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.4 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, advanced coal and natural gas, renewables such as solar, hydroelectric and wind, as well as a variety of energy efficiency programs. Consistently recognized as a leader in customer service, Georgia Power was recently ranked highest in overall business customer satisfaction among large utilities in the South by J.D. Power and Associates. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower) and Twitter (Twitter.com/GeorgiaPower).
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the completion of ongoing construction projects and projected installed capacity of solar generation resources. Georgia Power Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power Company's Annual Report on Form 10-K for the year ended December 31, 2013, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: ability to control costs and avoid cost overruns during the development and construction of facilities, to construct facilities in accordance with the requirements of permits and licenses, to satisfy any operational and environmental performance standards, including the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Georgia Power Company. Georgia Power Company expressly disclaims any obligation to update any forward-looking information.
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