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 2024, the project generated approximately 51,641 megawatt hours (MWh) and offset 34,599 metric tons of CO2, bringing the total since the project was placed into service to 481,253 MWh and 340,653 metric tons of CO2 offset.*
  • In 2024, the project generated enough electricity to power the equivalent of 4,998 average U.S. homes for one year, bringing the total since the project was placed into service to 45,151 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 2024, the project generated approximately 44,157 megawatt hours (MWh) and offset 29,585 metric tons of CO2, bringing the total since the project was placed into service to 451,107 MWh and 319,948 metric tons of CO2 offset. *
  • In 2024, the project generated enough electricity to power the equivalent of 4,274 average U.S. homes for one year, bringing the total since the project was placed into service to 42,353 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 2024, the project generated approximately 35,401 megawatt hours (MWh) and offset 23,719 metric tons of CO2, bringing the total since the project was placed in service to 415,953 MWh and 295,363 metric tons of CO2 offset. *
  • In 2024, the project generated enough electricity to power the equivalent of 3,426 average U.S. homes for one year, bringing the total since the project was placed in service to 39,030 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 2024, the project generated approximately 49,091 megawatt hours (MWh) and offset 32,891 metric tons of CO2, bringing the total since the project was placed in service to 442,968 MWh and 314,068 metric tons of CO2 offset. *
  • In 2024, the project generated enough electricity to power the equivalent of 4,751 average U.S. homes for one year, bringing the total since the project was placed in service to 41,611 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 2024, the project generated approximately 53,880 megawatt hours (MWh) and offset 36,100metric tons of CO2, bringing the total since the project was placed into service to 391,155 MWh and 243,941 metric tons of CO2 offset.*
  • In 2024, the project generated enough electricity to power the equivalent of 5,215 average U.S. homes for one year, bringing the total since the project was placed into service to 36,815 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 2024, the project generated approximately 1,794 megawatt hours (MWh) and offset 1,202 metric tons of CO2, bringing the total since the project was placed into service to 15,967 MWh and 11,303 metric tons of CO2 offset.*
  • In 2024, the project generated enough electricity to power the equivalent of 174 average U.S. homes for one year, bringing the total since the project was placed into service to 1,498 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