(Bloomberg) — Southern Co., owner of Georgia’s largest
utility, acquired a controlling stake in a 32-megawatt power
plant in California from First Solar Inc.
The remaining stake in the Lost Hills-Blackwell facility
will be held by a First Solar unit, Atlanta-based Southern said
in a statement Thursday. Terms weren’t disclosed.
First Solar will operate and maintain the solar facility,
comprising the 20-megawatt Lost Hills and 12-megawatt Blackwell
sites. Construction is expected to be completed “shortly after
this acquisition,” according to the statement.
With this deal, Southern Power owns almost 1 gigawatt of
renewable-energy capacity in operation or under development.
Pacific Gas & Electric Co. and Roseville Electric have
agreed to buy the output of Lost Hills-Blackwell, enough for
about 11,000 homes, and the associated renewable-energy credits
under long-term contracts.
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Justin Doom in New York at
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Reed Landberg at
Will Wade, Robin Saponar