Southern Power, a subsidiary for US-based Southern Company, has signed an agreement to acquire the 151MW Grant wind power plant in Oklahoma from Apex Clean Energy.
Financial details about the deal have not been disclosed.
Based in Grant county, the wind power plant will have the capacity to meet power demands for 50,000 average households in the country, once operational.
The facility, which will be equipped with 66 Siemens Energy manufactured wind turbines, is being developed by IEA Renewable Energy, which is a subsidiary of Infrastructure and Energy Alternatives (IEA), for Apex Clean Energy.
The acquisition deal is likely to be closed in March next year following successful completion of project construction.
Apex Clean Energy will be in charge of the operation and maintenance of the power plant after construction works are completed.
Southern Company president Thomas Fanning said: "Southern Company is committed to the full portfolio and this project is an important step in further expanding our fuel mix.
"Our second wind project and one of Southern Power’s more than 20 renewable projects across America, the Grant wind facility is a smart investment that expands our company’s presence in a region with exceptional wind resources."
Taking over the power project is in line with Southern Power’s initiative to strengthening its wholesale business through the acquisition and development of generating assets supported by long-term contracts.
This project is covered with 20-year power purchase agreements with Western Farmers Electric Cooperative, East Texas Electric Cooperative and Northeast Texas Electric Cooperative, which entitle them to power outputs and associated renewable energy credits (RECs) from the facility.
Image: The 151MW Grant wind power plant in Oklahoma will feature 66 Siemens Energy manufactured turbines. Photo: courtesy of Southern Company.