Southern Company subsidiary acquires Henrietta Solar Project
Southern Company subsidiary Southern Power has announced that Southern Power has acquired a controlling interest in the 102 MW Henrietta Solar Project in Kings County, California, from SunPower, which will own the remaining interest in the project. The Henrietta Solar Project marks Southern Power's 11th solar project in California and is the company's first acquisition in Kings County.
The Henrietta Solar Project represents Southern Power's first joint venture with SunPower, which developed, designed and is constructing the facility and will operate and maintain it upon completion. Construction began in May 2015, and the project is expected to be fully operational in the third quarter of this year.
Existing Southern Power customer Pacific Gas and Electric Company will purchase the electricity and associated renewable energy credits (RECs) generated by the facility under a 20-year power purchase agreement.
SunPower is constructing a SunPower Oasis Power Plant system at the approximately 670-acre Henrietta site. Oasis is a fully-integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy utility-scale solar projects while optimizing land use. Once operational, the facility is expected to be capable of generating enough electricity to help meet the energy needs of approximately 24,000 average U.S. homes.
Southern Power President and CEO Buzz Miller said:
"The acquisition of the Henrietta Solar Project underscores Southern Power's leadership in developing renewable energy," "Through strategic partnerships, including with SunPower, we continue to accelerate our solar generation growth in California."
SunPower CEO Tom Werner stated:
"With over 30 years' experience and more than 2.5 GW of innovative solar power plants operating around the world, SunPower is a global leader driving the adoption of reliable, cost-effective solar power at utility scale," "We are proud to partner with Southern Power to deliver long-term value for the utility, its customer, and the California homes and businesses that will benefit from the emission-free power generated by the Henrietta Solar Project."
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