Southern Moving Into Wind Power With Deal for 299-Megawatt Plant

(Bloomberg) — Southern Co., the owner of Georgia’s biggest
publicly traded utility, is expanding into wind power with its
largest renewable-energy purchase to date.

Southern’s first acquisition of a wind farm is expected to
close in late 2015 when the 299-megawatt Kay Wind project in
Oklahoma is complete, according to a statement Tuesday. Terms
weren’t disclosed.

Adding Kay Wind gives Atlanta-based Southern more than 970
megawatts of renewable-energy capacity in operation or under
development.

Apex Clean Energy Inc. is developing the project and
Blattner Energy Inc. is building it. Kay Wind will use 130
Siemens AG turbines and generate enough electricity to power
about 100,000 homes.

Westar Energy Inc. has agreed to buy 199 megawatts of Kay’s
output and Grand River Dam Authority will purchase the remaining
100 megawatts, under 20-year contracts. Both companies also will
get the associated renewable-energy credits.

Apex, based in Charlottesville, Virginia, arranged a $397
million construction loan for the project, according to an e-mailed statement. Bayerische Landesbank and Rabobank jointly led
the debt financing. Terms weren’t disclosed.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Will Wade, Tina Davis

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