A green bond is a bond whose proceeds are either used for or allocated towards projects with environmental benefits. Through our subsidiaries Southern Power and Georgia Power, the Southern Company system has issued 8 series of green bonds totaling nearly $3.9 billion since 2015.
As of December 31, 2023, ~$3.9 billion from 8 series of green bonds have been allocated to 18 eligible green projects. Since 2015, these 18 green bond projects have generated more than 44,708 gigawatt hours (GWh) of carbon-free electricity, which is enough to power more than 4.2 million homes, while also offsetting nearly 31.9 million metric tons of CO2.
44,708 Gigawatt Hours
of Carbon-Free Electricity Generated by
Green Bond Projects
31.9 Million Metric Tons
of CO2 Emissions Offset by
Green Bonds Projects
4.2 Million Homes
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Green Bond Projects
- As of 12/31/2023, Southern Power has issued 7 series of green bonds totaling $3.5 billion of gross proceeds. Since 2015, the combined
proceeds from Southern Power’s green bond issuances have partially funded the construction of 12 eligible green projects. These 12
eligible green projects consist of 7 wind projects in Maine, Oklahoma, South Dakota and Texas, as well as 5 solar projects in California,
Nevada and Georgia. Collectively, these projects have generated nearly 42,745 GWh of carbon-free electricity and offset nearly 30.5
million metric tons of CO2. Click here to learn more about
Southern Power’s green bonds.
- Georgia Power’s sole green bond issuance in 2016 raised $325 million in gross proceeds. Since 2016, the proceeds from Georgia Power’s green bond issuance have been used to partially fund the construction of six (solar) eligible green projects in Georgia. As of 12/31/2023, these projects have generated more than 1,962 GWh of carbon-free electricity and offset nearly 1.4 million metric tons of CO2. Click here to learn more about Georgia Power’s green bonds.
The net proceeds from these green bonds have provided significant environmental benefits, underscoring the Southern Company system’s commitment to not only providing clean, safe, reliable and affordable electricity to customers and communities, but also our company’s goal of achieving net zero carbon emissions by 2050.
In February 2021, Georgia Power became the first domestic utility in the Unites States to issue a sustainability bond, which Georgia Power issued under the Southern Company’s Sustainable Financing Framework. A sustainability bond, the proceeds of which are allocated towards projects with environmental and social benefits, is a combination of a green bond and a social bond. To learn more about the Southern Company system’s sustainability bonds, please click here.
The map and table below provide more information about the various renewable projects and their environmental benefits that were partially funded via green bonds. To learn more about Southern Company’s decarbonization efforts, please click here to review our environmental reports.