Southern Company Subsidiary to Acquire Natural gas-fired Power Facility in Minnesota
ATLANTA, Sept. 1, 2016 - Southern Company subsidiary Southern Power today announced its agreement to acquire the Mankato Energy Center from Calpine Corporation, subject to customary closing conditions. Located in Mankato, Minnesota, the center will include two natural gas units – the existing 375-megawatt (MW) Mankato Energy Center I and the 345-MW Mankato Energy Center II expansion, which is under development. When complete, the Mankato Energy Center will represent 720 MW of generating capacity.
"Southern Power remains committed to the strategic development of a diverse generation mix, and the Mankato Energy Center is an excellent fit for Southern Power's business model," said Southern Power President and CEO Buzz Miller. "We are proud to serve this region and look forward to expanding the output of the facility to meet the needs of our customers."
Mankato Energy Center I is a natural gas-fired, combined-cycle facility contracted with Northern States Power, a subsidiary of Xcel Energy Inc., through 2026. The Mankato Energy Center II expansion is expected to be operational by June 2019 to serve an additional 20-year power purchase agreement with Northern States Power.
With the addition of the Mankato Energy Center, Southern Power will own 10 combined-cycle and combustion-turbine natural gas-fueled power plants across five states, representing 9,300 MW of generating capacity operating or under development. The project represents Southern Power's first generating asset within the Midcontinent ISO (MISO).
About Southern Power
Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers. Southern Power and its subsidiaries own or have the rights to 41 facilities operating or under construction in 11 states with more than 11,700 MW of generating capacity in Alabama, California, Florida, Georgia, Maine, Minnesota, Nevada, New Mexico, North Carolina, Oklahoma and Texas.
About Southern Company
Southern Company (NYSE: SO) is America's premier energy company, with 44,000 megawatts of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million electric and gas utility customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric utilities in four states, natural gas distribution utilities in seven states, a competitive generation company serving wholesale customers across America and a nationally recognized provider of customized energy solutions, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are inventing America's energy future by developing the full portfolio of energy resources, including carbon-free nuclear, 21st century coal, natural gas, renewables and energy efficiency, and creating new products and services for the benefit of customers. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity by DiversityInc, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a Top Employer for Hispanics by Hispanic Network. The company has earned a National Award of Nuclear Science and History from the National Atomic Museum Foundation for its leadership and commitment to nuclear development and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.
SOURCE Southern Company
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