Southern Power, a subsidiary of Southern Company, expanded its solar portfolio by acquiring the 74MW Rutherford Farm solar facility from Cypress Creek Renewables in North Carolina. The acquisition was completed in partner with Turner Renewable Energy.
After the addition of the 74MW project, Southern Power now owns more than 2,200MW of renewable energy portfolio, including solar, wind and biomass projects that are either in operation or under construction across the U.S. Southern Power owns the projects through both strategic acquisitions and developments.
"The strategic acquisition of the Rutherford Farm is another step in the development of our solar portfolio," said Southern Power President and CEO Buzz Miller. "This project aligns with our business model as we continue our growth as a renewable energy leader."
Rutherford Farm is currently under construction in Rutherford County. Trina Solar will supply approximately 289,104 monocrystalline solar panels for the project, which will be installed on fixed tilts. Cypress Creek Renewables will be responsible for completing the project as well as offering future O&M services after the scheduled commercial operation in December.
The project’s annual electricity generation is expected to be enough for powering around 11,500 average North Carolina homes. Meanwhile, the project will be covered by a long-term power purchase agreement.
Rutherford Farm is Southern Company’s second solar project in North Carolina and the 10th one with Turner Renewable Energy since the formation of the two companies’ strategic alliance in January 2010. The alliance was formed to pursue development of renewable energy projects in the United States, and now it owns more than 415MW of solar capacity.