Southern Power Company Green Bond Offering

Time 1 Minute Read
November 17, 2015
News

Hunton & Williams LLP advised the underwriters in the sale of $1,000,000,000 aggregate principal amount of Southern Power Company Green Bonds. The offering was the first investment grade domestic utility green bond. An amount equal to the net proceeds of the offering will be allocated to renewable energy generation projects, including financing of, or investments in, solar and wind power generation facilities located in the United States.

Southern Power Company is a wholly owned subsidiary of The Southern Company and an operating public utility. Southern Power Company and its subsidiaries construct, acquire, own and manage generation assets, including renewable energy projects, and sell electricity at market-based rates in the wholesale market. Southern Power and its subsidiaries own or have the right to own 31 facilities in nine states, with more than 10,200 megawatts of generating capacity operating or under construction in Alabama, California, Florida, Georgia, Nevada, New Mexico, North Carolina, Oklahoma and Texas.

The Hunton & Williams LLP team included Bud Ellis, Steven Friend and Patrick Jamieson. Cary Tolley and Anna Page provided tax advice.

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