A green bond is a bond the proceeds of which are allocated towards eligible projects with environmental benefits.

In 2016, Georgia Power completed the issuance of a $325 million green bond (Series 2016A), becoming the first retail electric utility in the United States to offer this type of security to support investment in sustainable generation. Offering the green bond is another way the company is supporting renewable energy development in Georgia including solar and wind power.

When Georgia Power issued the green bond in March 2016, the company committed to allocate an amount equal to the net proceeds from the bond ($321.7 million) to Eligible Green Expenditures, such as investments in solar power generation projects in the U.S. The company also committed to report the key environmental features of those projects and to publish an independent accountant’s report on the allocation.

Below you can see the specific solar power generation projects to which Georgia Power has allocated the green bond proceeds, as well as the environmental benefits of those projects. There is also a link to Georgia Power’s management assertion letter regarding the green bond allocation together with the independent accountant’s attestation report.

Fort Benning Solar

Benning Solar
  • Amount Allocated: $59.9 million
  • In Service: December 31, 2015
  • Location: Fort Benning
  • Capacity: 30 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and operated by Georgia Power with energy delivered to the state's electric grid.
  • In 2023, the project generated approximately 51,472 megawatt hours (MWh) and offset 36,545 metric tons of CO2, bringing the total since the project was placed into service to 429,612 MWh and 306,053 metric tons of CO2 offset.*
  • In 2023, the project generated enough electricity to power the equivalent of 4,771 average U.S. homes for one year, bringing the total since the project was placed into service to 40,153 homes.**
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

Fort Gordon Solar

FortGordon
  • Amount Allocated: $58.1 million
  • In Service: October 4, 2016
  • Location: Fort Gordon, Georgia
  • Capacity: 30 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and operated by Georgia Power with energy delivered to the state's electric grid.
  • In 2023, the project generated approximately 54,727 megawatt hours (MWh) and offset 38,856 metric tons of CO2, bringing the total since the project was placed in service to 406,950 MWh and 290,363 metric tons of CO2 offset. *
  • In 2023, the project generated enough electricity to power the equivalent of 5,073 average U.S. homes for one year, bringing the total since the project was placed into service to 38,079 homes. **
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

Fort Stewart Solar

Stewart Solar
  • Amount Allocated: $60.1 million
  • In Service: October 4, 2016
  • Location: Fort Stewart, Georgia
  • Capacity: 30 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and operated by Georgia Power with energy delivered to the state's electric grid.
  • In 2023, the project generated approximately 51,230 megawatt hours (MWh) and offset 36,373 metric tons of CO2, bringing the total since the project was placed in service to 380,552 MWh and 271,644 metric tons of CO2 offset. *
  • In 2023, the project generated enough electricity to power the equivalent of 4,749 average U.S. homes for one year, bringing the total since the project was placed in service to 35,604 homes. **
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

Navy - Kings Bay Solar

Kings Solar
  • Amount Allocated: $64.9 million
  • In Service: December 1, 2016
  • Location: Kings Bay, Georgia
  • Capacity: 30 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and operated by Georgia Power with energy delivered to the state's electric grid.
  • In 2023, the project generated approximately 55,658 megawatt hours (MWh) and offset 39,517 metric tons of CO2, bringing the total since the project was placed in service to 393,877 MWh and 281,177 metric tons of CO2 offset. *
  • In 2023, the project generated enough electricity to power the equivalent of 5,159 average U.S. homes for one year, bringing the total since the project was placed in service to 36,859 homes. **
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

Marine Corps Logistics Base (MCLB) Solar

Marine Corps Logistics Base Solar
  • Amount Allocated: $74.2 million
  • In Service: February 12, 2018
  • Location: Albany, Georgia
  • Capacity: 31 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and will be operated by Georgia Power with energy delivered to the state's electric grid.
  • In 2023, the project generated approximately 53,906 megawatt hours (MWh) and offset 38,273 metric tons of CO2, bringing the total since the project was placed into service to 337,275 MWh and 207,841 metric tons of CO2 offset.*
  • In 2023, the project generated enough electricity to power the equivalent of 4,997 average U.S. homes for one year, bringing the total since the project was placed into service to 31,600 homes.**
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

University of Georgia Solar (UGA) Demonstration Project

University of Georgia Solar
  • Amount Allocated: $4.5 Million
  • In Service: February 4, 2016
  • Location: Athens, Georgia
  • Capacity: 1 MW AC
  • Generation Resource: Photovoltaic Solar
  • The facility is owned and operated by Georgia Power with energy delivered to the state's electric grid.
  • Georgia Power and our project partners, University of Georgia and the Electric Power Research Institute, are studying performance and reliability of fixed and tracking configurations of five separate sub-arrays in this two-year demonstration project. The project demonstrates optimal orientation and tracking technology suited for Georgia’s climate and energy demand.
  • UGA will receive the renewable energy credits, or RECs.
  • In 2023, the project generated approximately 1,733 megawatt hours (MWh) and offset 1,230 metric tons of CO2, bringing the total since the project was placed into service to 14,173 MWh and 10,101 metric tons of CO2 offset.*
  • In 2023, the project generated enough electricity to power the equivalent of 161 average U.S. homes for one year, bringing the total since the project was placed into service to 1,325 homes.**
  • Fact Sheet

* Per the EPA Environmental Impacts Calculator

** Per the EIA annual average residential electricity consumption

Georgia Power’s affiliate, Southern Power, has also issued green bonds. For more information on Southern Power green bonds please click here.

Management Assertion and Independent Accountants' Attestation Report