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Southern Power Closes Sale of Nacogdoches Generating Facility to Austin Energy

<p>&quot;The sale of the biomass facility provides benefits to Southern Power and offers Austin Energy the opportunity to own a significant regional energy resource,&quot; said Southern Power President,&nbsp;Bill Grantham. &quot;Proceeds from this transaction will be used to strengthen the balance sheet of Southern Company, help meet projected equity needs and further de-risk financing plans.&quot;</p>
<p>Barclays served as the financial advisor and Baker Botts served as primary legal counsel to Southern Power.</p>
<p><b>About Southern Power&nbsp;<br>
</b>Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities, and commercial and industrial customers. Southern Power and its subsidiaries own&nbsp;48&nbsp;facilities operating or under construction in&nbsp;11&nbsp;states with more than&nbsp;11,200 MW&nbsp;of generating capacity in&nbsp;Alabama,&nbsp;California,&nbsp;Georgia,&nbsp;Kansas,&nbsp;Maine,&nbsp;Minnesota,&nbsp;Nevada,&nbsp;New Mexico,&nbsp;North Carolina,&nbsp;Oklahoma&nbsp;and&nbsp;Texas.</p>