In February 2021, Georgia Power became the first domestic utility in the United States to issue a sustainability bond, receiving net proceeds of approximately $743M from this issuance (Series 2021A). Georgia Power allocated an amount equal to these net proceeds to eligible green and social categories as defined in Southern Company’s Sustainable Financing Framework.

As shown below, Georgia Power allocated an amount equal to ~$480M of net proceeds to eligible green spend (65%), while the balance of the net proceeds (~$263M, or 35%) was allocated to eligible social spend.

GPC Sustainability Bond Net Proceeds Allocation: $743M

$0 $75 $150 $225 $300 $375 $450 $525 $600 $675 $750
Green: $480M
(65%)		 Social: $263M
(35%)
Renewable PPA:
$247M (33%)		 Renewable Capex:
$232M (31%)		 Diverse Supplier Spend:
$199M (27%)		 Small Business
Supplier Spend:
$64M (9%)
Wind PPA:
$76M (10%)		 Solar PPA:
$171M (23%)		 Moody AFB Solar:
$72M (10%)		 Robins AFB Solar:
$161M (22%)		 Minority-Owned: $58M (8%) Woman-Owned
$139M (19%)
Veteran-Owned: $2M (<1%)		 Small Business Supplier Spend: $64M (9%)
Note: totals may not foot due to rounding

Georgia Power allocated an amount equal to the net proceeds to various renewable energy projects—such as self-owned solar facilities and renewable PPAs—as well as to a number of diversity-owned and small-business enterprises. As shown below, the environmental and social benefits from this sustainability bond underscore Georgia Power’s commitment to being a Citizen Wherever We Serve.

Georgia Power Company 2021A Sustainability Bond Impact Summary1

Issuer Series2 Category Number of Suppliers Type /
Designation		 Net Proceeds
Allocated ($M)		 Project In-Service Date Fact Sheet Capacity (MW) Electricity
Generated (GWh)1		 Total CO2 Offset
(mt)3		 Home Power
Equivalent4
Renewable Energy $161 Robins Air Force Base Apr-2021 Click Here 128 723 513,134 67,557
Owned Solar
$72 Moody Air Force Base Jun-2020 Click Here 50 286 203,097 26,734
Solar PPA $171 Various (GA)
Wind PPA $76 Various (OK)
Georgia Power 2021A Diverse / Small Business Suppliers 55 Minority-Owned $58
3 Woman-Owned $139
13 Veteran-Owned $2
11 Small Business Enterprise $64

1 Environmental data for Georgia Power as of 12/31/2023

2 Click on the Series to view the Prospectus Supplement

3 Carbon offset factor = 0.71 based on 2019 methodology per EIA online calculator https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

4 Number of homes factor = 0.0927 based on EIA average 899 kWh per month electricity consumption for 2023 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3

For more information, click here for the Management Assertion and Independent Accountants' Attestation Report.