US$1.1 billion green bonds issued by Southern Company subsidiary

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Southern Company's Vogtle nuclear power station, which the company is adding more capacity to over the next three years.

US utility and holding company Southern Company has issued US$1.1 billion of green bonds, to be used for the financing of renewable energy generation.

Southern Company was the first investment-grade utility in the US to issue green bonds in 2015, with an initial offering of US$1 billion, completed in November. Through its subsidiary, Southern Power, the parent company said yesterday that the latest aggregate principal offering would mobilise around US$1.2 billion in cash for generation facilities including solar and wind, to include project financing.

Southern Company provides energy to over four million customers in the US states of Georgia, Florida, Alabama and Mississippi. It said that the latest offering stands separately to the previous issue. The group has around 2,000MW of renewable generation capacity in its portfolio. This includes a majority stake in a 200MW California solar farm acquired by Southern Power as well as several other large-scale solar project acquisitions made towards the end of last year. In May the parent company completed a US$425 million merger with Powersecure, a company providing energy solutions for utility and corporate customers. 

Read Next

PV Tech Premium
January 25, 2022
European solar power purchase agreement (PPA) prices can be expected to level off this year following a turbulent end to 2021 as the market undergoes a shift in the balance of power to the seller side.
January 24, 2022
More than 260 companies in the US clean energy sector are demanding urgent action on the US$1.75 trillion Build Back Better (BBB) Act, claiming that US$2 billion is being lost in economic activity every month the long-awaited bill is delayed.
January 24, 2022
Polysilicon producer Daqo New Energy is expecting a five-fold increase in net profit from its Xinjiang subsidiary as it continues to progress expansion plans.
January 24, 2022
The average cost of forecasting errors in the US is lower than previously thought at less than US$1/MWh, according to a study by Berkeley Lab that employed a new, publicly available method to examine the practice.
January 24, 2022
The year has gotten off to a frenetic start, with plenty of news from the global solar and energy storage sectors to digest on the January 2022 episode of the Solar Media Podcast.
January 21, 2022
Toronto-based renewables developer Amp Energy has closed on a US$350 million credit facility to advance on a global portfolio of renewables and battery energy storage assets.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal