Georgia Power receives approval from Georgia PSC for five new solar facilities to supply CARES 2023 solar program
Rhea-AI Summary
Georgia Power, a subsidiary of Southern Company (NYSE: SO), has received approval from the Georgia Public Service Commission for five new utility-scale solar power purchase agreements (PPAs) totaling 1,068 megawatts (MW). The facilities will supply the company's Clean and Renewable Energy Subscription (CARES) 2023 program.
The approved projects include: a 260 MW facility in Mitchell County (25-year PPA), a 200 MW facility in Coffee County (30-year PPA), a 183 MW facility with 91.5 MW battery storage in Wilkinson County (20-year PPA), a 200 MW facility in Jefferson County (20-year PPA), and a 225 MW facility in Laurens County (20-year PPA).
The company is also pursuing additional renewable resources through the CARES 2025 RFP, targeting up to 2,000 MW of utility-scale solar. Georgia Power's 2025 IRP aims to procure up to 4,000 MW of renewable resources by 2035, expanding its renewable portfolio to approximately 11,000 MW.
Positive
- Approval secured for 1,068 MW of new solar capacity across five facilities
- Projects selected through competitive bidding process, ensuring economic value
- Integration of 91.5 MW battery storage system with one of the solar facilities
- Long-term PPAs ranging from 20-30 years provide stable energy supply
- Expansion plans target 11,000 MW renewable portfolio by 2035
Negative
- Project completion and benefits subject to construction and development risks
- Success dependent on third-party companies' performance in building and maintaining facilities
News Market Reaction
On the day this news was published, SO declined 0.10%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Commission certifies 1,068 MW of competitively sourced new solar power purchase agreements to benefit all customers;
New utility-scale solar expands on company's commitment to reliability for customers through a diversified generation portfolio
The CARES program allows eligible commercial and industrial customers to support their sustainability initiatives by purchasing a subscription for a pro-rata share of the production of renewable resources. Demand for such subscriptions continues to grow from customers with sustainability goals.
"Renewable RFPs, such as the CARES 2023 RFP, are designed to procure valuable renewable energy that helps to diversify Georgia Power's generation mix and increase reliability. Our planning models project that these resources will deliver benefits to customers long-term," said Wilson Mallard, director of renewable development for Georgia Power. "The five projects we selected are economical and we expect they will provide energy and capacity benefits to the system and the most value for all Georgia Power customers."
The five PPAs were selected by Georgia Power following a competitive solicitation overseen by an independent evaluator and PSC staff. The facilities will be located throughout
- Mitchell County: A 25-year PPA providing 260 MW of solar capacity.
Coffee County : A 30-year PPA providing 200 MW of solar capacity.Wilkinson County : A 20-year PPA providing 183 MW of solar capacity paired with a 91.5 MW battery storage system.Jefferson County : A 20-year PPA providing 200 MW of solar capacity.Laurens County : A 20-year PPA providing 225 MW of solar capacity.
Expanding Renewable Energy Within a Diverse Generation Mix
Georgia Power is seeking additional renewable resources to continue to build a reliable, diversified generation portfolio through competitive RFP processes, which help maintain flexibility amid changing market conditions and enable the company to continue to provide more carbon-free energy to customers.
The CARES 2025 RFP, also approved in the 2022 IRP Final Order, was recently issued with bids due in August. CARES 2025 RFP bidders were asked to submit utility-scale solar or solar plus storage bids to meet a target of up to 2,000 MW of utility-scale solar including any remaining unfilled utility-scale resources from the CARES 2023 RFP program. These utility-scale solar projects are expected to have commercial operation dates as early as 2028.
Georgia Power's 2025 IRP, approved in July, highlights the additional procurement of a total of up to 4,000 MW of renewable resources by 2035, with an initial target of 1,100 MW of new renewable resources sought through competitive utility-scale and distributed generation procurements. The company anticipates issuing RFPs in 2026 for these new resources, which would expand the company's renewable resource portfolio to approximately 11,000 MW by 2035.
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.8 million customers in all but four of
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning future generation mix, expected renewable generation growth, expected commercial operation dates, projected rate impacts and expected customer benefits. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: variations in demand for electricity; the ability to avoid schedule overruns during the development, construction, and operation of facilities or other projects; the ability to construct facilities in accordance with the requirements of permits and licenses, to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; the ability to successfully operate Georgia Power's generation, transmission, distribution and battery energy storage facilities, and the successful performance of necessary corporate functions; the inherent risks involved in generation, transmission and distribution of electricity, including accidents, explosions, fires, mechanical problems, discharges or releases of toxic or hazardous substances or gases and other environmental risks; the ability of counterparties of Georgia Power to perform as required; the direct or indirect effect on Georgia Power's business resulting from cyber intrusion or physical attack and the threat of cyber and physical attacks; global and
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SOURCE Georgia Power
FAQ
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