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Southern Company is celebrating Asian American and Pacific Islander (AAPI) Heritage Month by highlighting the contributions of AAPI employees. Featured speakers include Yvonne Murray, Charles R. Daniel, Pradeep Vitta, and Joyce Solomon, who discuss their roles and innovations within the company.
The company emphasizes its commitment to inclusivity and fostering a diverse workplace where employees can thrive. This celebration is part of Southern Company's broader efforts in promoting intentional inclusion and recognizing the diverse cultures within its workforce.
Southern Company has made an early-stage investment in Johnson Energy Storage (JES), a company specializing in solid-state battery technology. JES, founded by Dr. Lonnie Johnson, aims to develop batteries that are safer and less expensive than current Lithium-ion batteries.
Southern Company's investment underscores its commitment to clean, reliable, and affordable energy solutions. JES's solid-state batteries could revolutionize electric vehicles (EVs) by offering faster charging times and longer ranges, important factors in enhancing EV adoption.
Southern Company's support is a strategic move to foster innovative energy technologies and support local entrepreneurship, reflecting its vision for a sustainable energy future.
Southern Power, a subsidiary of Southern Company, announced the expansion of its Millers Branch Solar Facility in Haskell County, Texas. The new phase will add 180 megawatts (MW) to the existing 200 MW, with potential to reach 500 MW.
Scheduled for commercial operation by Q2 2026, the project supports Southern Power's strategy of developing assets with long-term contracts. Prominent companies including Cisco, Juniper Networks, and IDEXX Laboratories have signed power purchase agreements for the Phase II output.
Southern Power's renewable portfolio now includes over 2,920 MW of solar and 5,450 MW of total renewable capacity across 30 solar and 15 wind facilities.
Southern Company recently joined Incubatenergy Labs, a program by EPRI focused on connecting start-up companies in clean energy and electrification with energy providers to pilot innovative solutions. The company was the host sponsor of EPRI's Electrification 2024 Conference, showcasing emerging companies. Southern Company's New Ventures Director expressed enthusiasm for the collaboration, emphasizing the company's commitment to innovation and shaping the future of energy through active engagement.
Southern Company announced that Peter P. Sena III will succeed Stephen Kuczynski as chairman and CEO of Southern Nuclear. Sena, who joined in 2019, brings extensive industry experience and will oversee operations across multiple nuclear power plants. Kuczynski led the company through challenges and the successful construction of Vogtle Units 3&4.
The TOUR Championship has been recognized as a GEO Certified® Tournament for the first time in its history. They are delivering 100% renewable energy for the event, aligning with their goal of achieving net-zero emissions by 2050. The recognition showcases their commitment to sustainability.
Solar energy accounted for over 50% of new U.S. electricity generating capacity in 2023, with a record 32.4 gigawatts added to the grid, a 51% increase from 2022. Southern Company and its subsidiaries lead the solar expansion in the Southeast, with plans to triple solar capacity by the early 2030s. The company aims to have around 20,000 MW of renewable capacity and storage by 2030, contributing to a net-zero greenhouse gas emissions goal by 2050.
Southern Company (NYSE: SO) announced the pricing of $1.3 billion in Series 2024A 4.50% Convertible Senior Notes due June 15, 2027, reflecting an upsize of $200 million. The Convertible Notes will have an initial conversion rate of 10.8166 shares of common stock per $1,000 principal amount, with an initial conversion price of approximately $92.45 per share. The offering is expected to close on May 9, 2024. Southern Company intends to use the proceeds to repay commercial paper borrowings and for general corporate purposes.
Southern Company (NYSE: SO) announced an offering of $1.1 billion in convertible senior notes due June 15, 2027, to qualified institutional buyers. The terms of the notes will be determined at pricing, with interest paid semiannually. The company plans to use the proceeds to repay commercial paper borrowings and for general corporate purposes.
Southern Company reported first-quarter earnings of $1.1 billion, or $1.03 per share, in 2024 compared to $862 million, or 79 cents per share, in the first quarter of 2023. Adjusted earnings drivers included higher utility revenues offset by increased expenses. Operating revenues for Q1 2024 were $6.6 billion, a 2.6% increase from Q1 2023. The company highlighted the achievement of commercial operation at Plant Vogtle Unit 4, making it the largest generator of clean energy in the US.
