Southern affiliate buys major stake in Invenergy wind project in Texas

Southern (NYSE:SO) subsidiary Southern Power continues to add to its renewable energy portfolio with the purchase of a controlling interest in the 257-MW Wake Wind Energy Center in Texas from Invenergy.

Invenergy Wind LLC developed and constructed Wake Wind and owns the remaining interest in the project, Southern said Oct. 28. The Wake Wind facility is located in the northwest Texas counties of Crosby and Floyd.

The facility began commercial operation in October.

Filings made during September with the Public Utility Commission of Texas indicate that Invenergy will be conveying slightly more than 90% of the equity interest to Southern.

With the addition of Wake Wind Energy Center, Southern Power owns more than 2,600 MW of renewable generation across 32 solar, wind and biomass facilities either announced, acquired or under construction. Across its system, the Southern parent has added or announced more than 4,000 MW of renewable generation since 2012.

Blattner Energy was the lead construction contractor for Wake Wind Energy Center, and Invenergy Services LLC 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 associated 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 electricity and RECs generated, which it may keep or sell. 

“Southern Power remains committed to strategically developing our renewable energy portfolio,” said Southern Power President and CEO Buzz Miller.

“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,” said Jim Murphy, CFO and Operating Business Group President at Invenergy.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.