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March 30, 2021

Southern Power acquires wind farm in South Dakota

US-based wholesale energy provider Southern Power has acquired a 300MW wind farm from power generation company Invenergy.

By Umesh Ellichipuram

US-based wholesale energy provider Southern Power has acquired a 300MW wind farm from power generation company Invenergy.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Deuel Harvest Wind Farm is equipped with 109 wind turbines from GE Renewable Energy. The farm began commercial operations last month.

Located in Deuel County, South Dakota, US, the farm is Southern Power’s 14th wind project acquisition.

Southern Power will own a majority stake in the facility, while Invenergy will keep a minority ownership stake.

Southern Power president Bill Grantham said: “We are pleased to announce the acquisition of our 14th wind project.

“Deuel Harvest is Southern Power’s largest wind project to date and will serve as an important piece of our growing renewable portfolio.”

From January 2023, clean energy and associated renewable energy credits (RECs) generated by the wind farm will be sold to Great River Energy under a 25-year agreement.

The remaining energy will be sold to Xcel Energy under a 15-year agreement, which is expected to begin in October.

Invenergy subsidiary Invenergy Services, which provides end-to-end energy solutions for asset owners, will operate and maintain the facility.

The deal is in line with Southern Company’s strategy to provide a sustainable future by investing in clean energy solutions.

With the acquisition of Deuel Harvest wind farm, Southern Power’s wind portfolio now has more than 2,533MW of wind generation.

The financial details of the deal have not been disclosed.

Southern Power’s renewable fleet currently includes 43 solar and wind facilities that are either operating or under construction.

In 2018, the company signed an agreement with global cruise vacation company Royal Caribbean Cruises to build a 200MW wind facility in Reading, Kansas.

The Reading Wind facility was Southern Power’s eleventh wind facility and its first to be validated as a carbon offset project under the Verified Carbon Standard.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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