Georgia Power Moves Forward with Innovative Solar Projects

Georgia Power's Approval for New Solar Projects

Commission certifies 1,068 MW of competitively sourced new solar power purchase agreements to benefit all customers;
New utility-scale solar expands on company's commitment to reliability for customers through a diversified generation portfolio

Georgia Power has recently received approval from the Georgia Public Service Commission (PSC) to certify five new utility-scale solar site power purchase agreements (PPAs) aimed at enhancing the Clean and Renewable Energy Subscription (CARES) 2023 program. This initiative marks a significant advancement in providing clean energy benefits to all customers.

Details of the New Solar Facilities

The newly certified solar facilities will provide a total of 1,068 megawatts (MW) of renewable power capacity and will be developed and maintained by third-party companies that were selected through a competitive bidding process. This endeavor reflects Georgia Power's ongoing commitment to diversify its energy sources and ensure reliability in the energy supply for its customers.

Benefits of the CARES Program

The CARES program enables commercial and industrial customers to support their sustainability goals by purchasing subscriptions for a proportional share of renewable energy production. As more businesses aim to follow sustainable practices, demand for such electric subscriptions is continuing to grow.

Wilson Mallard, Georgia Power's director of renewable development, stated, "Renewable RFPs, such as the CARES 2023 RFP, are designed to procure valuable renewable energy that helps to diversify Georgia Power's generation mix and increase reliability. Our planning models project that these resources will deliver benefits to customers long-term." This shows the company's proactive approach toward meeting future energy demands and capacity needs.

Specifications of Selected Projects

The process for selecting these solar projects was thorough, with an independent evaluator and PSC staff overseeing the competitive solicitation. Facilities are strategically located throughout Georgia and include:

• Mitchell County: A 25-year PPA providing 260 MW of solar capacity.
• Coffee County: A 30-year PPA providing 200 MW of solar capacity.
• Wilkinson County: A 20-year PPA providing 183 MW of solar capacity paired with a 91.5 MW battery storage system.
• Jefferson County: A 20-year PPA providing 200 MW of solar capacity.
• Laurens County: A 20-year PPA providing 225 MW of solar capacity.

Pursuing Further Renewable Energy Initiatives

Georgia Power continues its efforts to expand its renewable energy portfolio through additional competitive RFP processes. This strategy allows the company to maintain flexibility in line with shifting market conditions and ensures that customers receive a sustainable energy supply. The plans for the CARES 2025 RFP have also been approved, seeking bids for utility-scale solar projects to meet an ambitious target.

The CARES 2025 RFP will include a goal of up to 2,000 MW of utility-scale solar, which is essential for Georgia Power’s transformation into a cleaner energy provider. This program will likely attract continued interest as bidders align their projects with modern sustainability and technological advancements.

Future Prospects for Georgia Power

Additionally, Georgia Power's ongoing initiatives, as highlighted in its 2025 IRP, anticipate procuring up to 4,000 MW of renewable resources by 2035. This forward-thinking approach is pivotal, as the demand for clean energy solutions is expected to rise significantly in the approaching years.

Georgia Power’s commitment spans across various energy sources, ensuring a balanced mix that incorporates renewable options such as solar, hydroelectric, and wind energies. The company's customer-first philosophy emphasizes value, reliability, and exceptional service, making it a leader in customer satisfaction in the industry.

About Georgia Power

Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), is dedicated to providing affordable electricity and maintaining a sustainable future. The company serves approximately 2.8 million customers across most counties in Georgia. Georgia Power’s focus remains on delivering reliable, innovative, and eco-friendly energy while continually striving to improve customer experience and operational efficiency.

Frequently Asked Questions

What is the CARES program?

The CARES program allows commercial and industrial customers to support sustainability by purchasing subscriptions for a proportional share of renewable energy production.

How much solar capacity will the new facilities provide?

The new solar facilities collectively will provide 1,068 megawatts (MW) of renewable power capacity.

Who oversees the selection of solar projects for Georgia Power?

The selection process is overseen by an independent evaluator and staff from the Georgia Public Service Commission (PSC).

What is Georgia Power's approach to renewable energy?

Georgia Power aims to diversify its energy mix through competitive solicitations, maintaining flexibility to adapt to changing market conditions while expanding renewable energy resources.

What are the future goals of Georgia Power?

Georgia Power's future goals include procuring up to 4,000 MW of renewable resources by 2035, enhancing its diverse generation mix for a sustainable energy future.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

Contact Logan Wright privately here. Or send an email with ATTN: Logan Wright as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.