Southern Co. (NYSE: SO) subsidiary Southern Power and Turner Renewable Energy announced July 8 the acquisition of the companies’ second solar project in North Carolina – the approximately 74-MW Rutherford Farm facility – from Cypress Creek Renewables.
“The strategic acquisition of the Rutherford Farm is another step in the development of our solar portfolio,” said Southern Power President and CEO Buzz Miller. “This project aligns with our business model as we continue our growth as a renewable energy leader.”
With more than 2,200 MW of renewable generating capacity ownership, Southern Power assembled its renewable portfolio through the strategic acquisition or development of 30 solar, wind and biomass projects that are either in operation or under construction across the United States.
Ted Turner, owner of Turner Renewable Energy, first teamed with Southern Co. through a subsidiary in January 2010 to form a strategic alliance to pursue development of renewable energy projects in the U.S. This is Southern Power’s 10th solar project with Turner Renewable Energy and brings the partnership’s overall solar capacity to more than 415 MW.
“Turner Renewable Energy’s trusted partnership with Southern Power continues to advance the development of renewable technologies across the country,” said Turner. “We are pleased with our growing relationship and today’s acquisition in North Carolina, which further expands the growth of solar energy.”
Cypress Creek Renewables is developing and constructing the Rutherford Farm and will serve as the operations and maintenance contractor. Construction began in February, and the facility is expected to be commercially operational in December. The project will be covered by a long-term power purchase agreement. Located on 489 acres in Rutherford County, Rutherford Farm is expected to consist of 289,104 fixed-tilt, monocrystalline solar panels manufactured by Trina Solar.
Southern Power is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives and investor-owned utilities. Southern Power and its subsidiaries own or have the rights to 39 facilities operating or under construction in 10 states with more than 10,800 MW of generating capacity.
Turner Renewable Energy is wholly owned by Ted Turner. Turner Enterprises Inc., a private company, manages the business interests, land holdings and investments of Ted Turner, including the oversight of 2 million acres in 12 states and in Argentina, and more than 51,000 bison.