A green bond is a bond whose proceeds are used for or allocated to 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 2020, the project generated approximately 51,095 megawatt hours (MWh) and offset 36,226 metric tons of CO2, bringing the total since the project was placed into service to 277,103 MWh and 197,873 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 4,855 average U.S. homes for one year, bringing the total since the project was placed into service to 25,914 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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 2020, the project generated approximately 53,884 megawatt hours (MWh) and offset 38,204 metric tons of CO2, bringing the total since the project was placed in service to 238,804 MWh and 171,092 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 5,120 average U.S. homes for one year, bringing the total since the project was placed into service to 22,380 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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 2020, the project generated approximately 50,513 megawatt hours (MWh) and offset 35,814 metric tons of CO2, bringing the total since the project was placed in service to 228,383 MWh and 163,705 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 4,800 average U.S. homes for one year, bringing the total since the project was placed in service to 21,397 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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 2020, the project generated approximately 55,707 megawatt hours (MWh) and offset 39,496 metric tons of CO2, bringing the total since the project was placed in service to 233,952 MWh and 167,735 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 5,293 average U.S. homes for one year, bringing the total since the project was placed in service to 21,928 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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 2020, the project generated approximately 55,725 megawatt hours (MWh) and offset 39,509 metric tons of CO2, bringing the total since the project was placed into service to 172,600 MWh and 91,033 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 5,295 average U.S. homes for one year, bringing the total since the project was placed into service to 16,226 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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 2020, the project generated approximately 1,613 megawatt hours (MWh) and offset 1,144 metric tons of CO2, bringing the total since the project was placed into service to 8,929 MWh and 6,381 metric tons of CO2 offset. *
  • In 2020, the project generated enough electricity to power the equivalent of 153 average U.S. homes for one year, bringing the total since the project was placed into service to 835 homes. **
  • Fact Sheet

* Per the EPA Greenhouse Gas Equivalencies Calculator: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator. The CO2 emission factor used by the GHG Equivalencies Calculator represents the 2019 U.S. annual non-baseload CO2 output emission rate.

** Per the EIA 2019 annual average residential electricity consumption. Note that solar is an intermittent resource that only produces power when sunlight strikes panels. “Homes powered” is an equivalent figure, not reflecting actual 24/7 production.

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