US energy provider Southern Power has entered into an agreement to sell a 33% minority stake in its PV portfolio to Global Atlantic Financial Group Limited for a purchase price of US$1.175 billion.
Southern Power’s PV portfolio is comprised of 26 operating solar facilities that account for 1.7GW of generation capacity.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Southern Power president and CEO Mark Lantrip noted: “We are excited about our new partnership with Global Atlantic. Our partnership has strong strategic alignment, as we are both focused on delivering long-term value to our customers and stakeholders. We look forward to working alongside Global Atlantic as we continue our work to provide clean, safe, reliable and affordable wholesale energy to our customers across the US.”
Through its subsidiaries, Southern Power will serve as the general partner in the partnership with Global Atlantic Financial Group and will continue to maintain overall operational responsibilities for the solar projects.
