Southern Power, a unit of Southern Company, has completed acquisition of controlling stake in the 257MW Wake Wind Energy Center in Texas, US, from Invenergy for undisclosed amount.
Located in the northwest Texas counties of Crosby and Floyd, the project, the cost of which has been undisclosed, features 150 GE turbines, each producing about 1.715MW.
The deal marks Southern Company's first purchase of wind project in Texas.
Southern Company said that the acquisition is part of its business strategy to grow its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts.
Southern Power president and CEO Buzz Miller said: "Southern Power remains committed to strategically developing our renewable energy portfolio.
"The Wake Wind Energy Center continues our growth in wind generation and will provide renewable wholesale energy to our customers."
The electricity and most of the associated renewable energy credits (RECs) generated through the project will be sold under two separate and long term agreements. Southern Power would retain a percentage of the electricity.
Invenergy Operating Business Group president and CFO Jim Murphy said: "Wake Wind was developed to meet the needs of our customers for long-term renewable energy supply.
"We're pleased Southern Power, a company with the same dedication to providing clean, affordable, wholesale generation to customers, wants to take ownership in this great project and we look forward to exploring additional opportunities to work with them in the future."
With the completion of the deal, Invenergy will operate and maintain the facility while retaining the remaining interest.
Blattner Energy was responsible for providing civil/mechanical scope and the transmission line for the project while EPC Services provided the electrical substation.
Image: The Wake wind farm in Texas, US. Photo: Courtesy of Southern Company.