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Southern Company subsidiary expands renewable portfolio with wind acquisition in Maine
Southern Company subsidiary Southern Power today announced the acquisition of the company's first project in Maine — the approximately 43-megawatt (MW) Passadumkeag Windpark in Penobscot County — from an affiliate of Quantum Utility Generation.
"Southern Power's acquisition of Passadumkeag Windpark extends our national presence to 10 states and further solidifies our position as America's premier wholesale energy partner," said Southern Power President and CEO Buzz Miller. "This exciting project adds to a dynamic renewable energy portfolio that is delivering clean, safe, reliable and affordable generation to wholesale customers across the country."
The majority of the electricity and associated renewable energy credits (RECs) generated by the facility are sold under a 15-year power purchase agreement to Eversource Energy. Southern Power will retain a small percentage of the electricity and RECs generated, which it may keep or sell.
Quantum Utility Generation developed and constructed the project, and EDF Renewable Services will serve as the balance-of-plant operations and maintenance contractor. Construction activities began in 2015 and are expected to be completed shortly after this acquisition.
The project consists of 13 wind turbines manufactured by Vestas-American Wind Technology Inc. Once operational, the Passadumkeag Windpark is expected to be capable of generating enough electricity to help meet the energy needs of approximately 14,000 average U.S. homes.
With more than 2,000 MW of renewable generating capacity ownership, Southern Power assembled its nationally recognized renewable portfolio through the strategic acquisition or development of 27 solar, wind and biomass projects that are either in operation or under construction across the United States. In all, the Southern Company system has added or announced more than 3,800 MW of renewable energy projects since 2012.
Southern Power now supplies wholesale generation to more than 40 energy providers that serve more than 40 million customers across the country. The Passadumkeag project fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts.