Southern Power, a unit of Southern Company, has acquired a controlling stake in the 257MW Wake Wind Energy Center, which is the firm's first wind acquisition in Texas.
Invenergy Wind has developed and constructed Wake Wind and owns the remaining interest in the project.
Southern Power president and CEO Buzz Miller said: "Southern Power remains committed to strategically developing our renewable energy portfolio.
"The Wake Wind Energy Center continues our growth in wind generation and will provide renewable wholesale energy to our customers."
Located in the northwest Texas counties of Crosby and Floyd, the Wake Wind plant fits Southern Power's business strategy of growing its wholesale business through the acquisition and construction of generating assets covered by long-term contracts.
Invenergy chief financial officer and operating business group president Jim Murphy said: "Wake Wind was developed to meet the needs of our customers for long-term renewable energy supply.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"We're pleased Southern Power, a company with the same dedication to providing clean, affordable, wholesale generation to customers, wants to take ownership in this great project and we look forward to exploring additional opportunities to work with them in the future."
With the addition of the Wake Wind Energy Center, Southern Power owns over 2,600MW of renewable generation across 32 solar, wind and biomass facilities either announced, acquired or under construction.
Across its system, Southern Company has either added or announced over 4,000MW of renewable generation since 2012.
Blattner Energy was the lead construction contractor for Wake Wind Energy Center, and Invenergy Services will operate and maintain the facility.
The Wake Wind Energy Center uses 150 wind turbines manufactured by General Electric Renewable Energy.
The electricity and majority of the renewable energy credits (RECs) generated by the facility will be sold under two separate, long-term power sale agreements.
Southern Power, through its subsidiaries, will retain a small percentage of power and RECs generated, which it may keep or sell.
