Southern Company subsidiary Southern Power acquired a controlling interest in the 157- MW Roserock solar facility from Recurrent Energy. The facility is being developed by Recurrent Energy, a subsidiary of Canadian Solar, which will retain the remaining interest in the project. The project, currently under construction, is expected to enter commercial operation in the fourth quarter of 2016.
Shareholders of AGL Resources voted to approve the proposed merger with Southern Company announced on August 24, 2015. Additionally, AGL Resources shareholders approved the proposed executive compensation that may be paid or may become payable to the Company's named executive officers in connection with or following the consummation of the merger. The merger remains subject to federal and state regulatory approvals, and the transaction is expected to close in the second half of 2016.
In a joint filing with the New Jersey Board of Public Utilities, Southern Company and AGL Resources requested regulatory approval of the companies' proposed merger. AGL Resources is the parent company of Elizabethtown Gas. When completed, the combination of Southern Company and AGL Resources is expected to create the second-largest utility company in the U.S. by customer base.
Southern Company subsidiary Southern Power and Turner Renewable Energy acquired the 15- MW Morelos del Sol Solar Facility from Solar Frontier Americas. Southern Power's eighth solar acquisition in California. DEPCOM Power is providing EPC services and will also operate and maintain the facility for Southern Power. Construction of the plant began in July, and commercial operation is expected in late November.
Southern Company subsidiary Southern Power, acquired a controlling interest in the 200- MW Tranquillity Solar Facility in California from Recurrent Energy, a subsidiary of Canadian Solar Inc. Recurrent Energy is constructing the facility and will retain the remaining interest in the project. Construction began in July, with Signal Energy Constructors managing the engineering, procurement and construction of the facility. The project is expected to enter commercial operation in the fourth quarter of 2016.
Southern Company and AGL Resources boards of directors approved a definitive merger agreement to create an electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12 billion, including a total equity value of approximately $8 billion.
OGE Energy chairman and CEO Pete Delaney stepped down from the CEO position to become the interim CEO of Enable Midstream Partners. In response, OGE named current president Sean Trauschke, as CEO. PJM Interconnection elected Terry Blackwell to the PJM board. Chesapeake Utilities appointed John R. Schimkaitis to serve as chairman of the board. Paul D. Koonce adds the role of president-Dominion Virginia Power to his responsibilities. And others...
AES Distributed Energy, a subsidiary of AES, commissioned a 4-MW solar project located in Dublin, Georgia. This system is the first of two solar PV projects being developed by AES Distributed Energy and its partners, collectively expected to supply 20 MW to the Georgia Power utility grid. The second, 16 MW project, is under development and is expected to be operational in the first half of 2016.
When most people think of Georgia and energy, they think of Southern Company and coal. Well, all that’s changing now that the state is about to embrace a new law on July 1 to allow utilities to sell rooftop solar energy.
Southern Company subsidiary Southern Power acquired the 103-MW Butler solar facility from Community Energy. The facility, located on approximately 1,070 acres in Taylor County, Georgia, is expected to enter commercial operation in the fourth quarter of 2016. Construction is slated to begin in September 2015, with First Solar managing the building, operations and maintenance of the facility.