Southern’s Ratcliffe signs solar deal with Ted Turner (Atlanta)
An historic contract was signed March 11 on Ted Turner’s ranch in New Mexico.
Southern Co. Chairman and CEO David Ratcliffe and Turner signed a contract to jointly acquire ownership of what will be one of the nation’s largest solar photovoltaic power plants.
The project was acquired and will be built by Tempe, Arizona-based First Solar Inc., a publicly-held company that is the largest maker of thin film solar modules.
The preliminary agreement between Southern Co. (NYSE: SO) and Turner Renewable Energy was announced in January, but details still needed to be worked out between the three entities.
When the plant comes online, the 30 megawatt project will be the first plant owned by the partnership and will supply power to about 9,000 homes.
The partnership is a novel one because the Southern Co., a major utility that has often been criticized for not embracing renewable energy, teamed up with Turner, an active environmentalist.
Read the full story in the Atlanta Business Chronicle.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.