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Southern Company Subsidiary Acquires 139-megawatt Solar Plant And More Than Doubles Solar Generating Capacity

Stocks in this article: FSLRSO

ATLANTA, April 23, 2013 /PRNewswire/ -- Southern Company (NYSE: SO) today announced the acquisition of the company's largest solar installation – the 139-megawatt (MW) Campo Verde Solar Project – by subsidiary Southern Power and Turner Renewable Energy from First Solar, Inc. (Nasdaq: FSLR). The Southern Power-Turner Renewable Energy partnership's fifth solar acquisition and its first solar project in California, the Campo Verde Solar Project will more than double Southern Company's solar capacity and is expected to generate enough electricity to power nearly 48,000 homes.

(Logo: http://photos.prnewswire.com/prnh/20080801/SOCOLOGO )

"When it comes to developing the full portfolio of energy resources, Southern Company is developing solutions – not rhetoric," said Southern Company Chairman, President and CEO Thomas A. Fanning. "By acquiring the Campo Verde Solar Project – our largest solar installation to date – we're more than doubling our solar capacity and increasing the diversity of our generation fleet."

The Campo Verde Solar Project will be built, operated and maintained by First Solar, a leading global provider of comprehensive photovoltaic (PV) solar systems utilizing its advanced thin-film modules.

Ted Turner, owner of Turner Renewable Energy, teamed with Southern Company through a subsidiary in January 2010 to form a strategic alliance to pursue development of renewable energy projects in the United States. The partnership has primarily focused on developing and investing in large-scale solar PV projects in the Southwest, where solar resources are most available.

The partnership's first project was the acquisition and development of the 30-MW Cimarron Solar Facility, also built by First Solar, on land adjacent to Turner's Vermejo Park Ranch near Raton, N.M. The partnership made three other purchases prior to acquiring the Campo Verde Solar Project – the 20-MW Apex Solar Facility and the 30-MW Spectrum Solar Facility, both of which are located in Clark County, Nev., and the 2.5-MW Granville Solar Facility in Granville County, N.C.

"This partnership was created to explore large-scale solar power generation projects, and acquiring this facility is another positive step in achieving our goal," said Turner. "Turner Renewable Energy is excited to be a partner in this project and to continue our collaboration with Southern Company."

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