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 May 31, 2021, ~$3.9 billion from 8 series of green bonds have been allocated to 18 eligible green projects. The Southern Company system currently reports environmental data for 16 of these eligible green projects; the company will start reporting environmental data for the two projects related to Southern Power’s Series 2021A green bond in 2022.

Since 2015, these 16 green bond projects have generated approximately 24,400 gigawatt hours (GWh) of carbon-free electricity, which is enough to power nearly 2.3 million homes, while also offsetting nearly 17.5 million metric tons of CO2.

  • As of 5/31/2021, 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 (excluding projects from the 2021A issuance) have generated more than 23,200 GWh of carbon-free electricity and offset nearly 16.7 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 12/31/2020, these projects have generated approximately 1,160 GWh of carbon-free electricity and offset nearly 800,000 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 is a bond whose proceeds are either used for or allocated towards environmental and social projects (defined in the Southern Company system’s Sustainable Financing Framework). For more information on Georgia Power’s sustainability bond, 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.

Southern Company Green Bonds Project Summary1

Issuer Issuance2 Series Principal
Amount
Issued($M)
Project In-Service Date Capacity (MW) Electricity
Generated
(GWh)
Total CO2
Offest
(mt)3
Home
Power
Equilvalent4
Georgia Power March 2016 2016A $325 Fort Benning Solar Dec-2015 30 277 0.2 M 26 K
Fort Gordon Solar Oct-2016 30 239 0.2 M 22 K
Fort Stewart Solar Oct-2016 30 228 0.2 M 21 K
Kings Bay Solar Dec-2016 30 234 0.2 M 22 K
Marine Corps Logistics Base Feb-2018 31 173 0.1 M 16 K
UGA Solar Project Feb-2016 1 9 0.01 M 1 K
Georgia Power (Total) $325 152
MW
1,160
GWh
0.8 M
mt
109 K homes
Southern Power November 2015 2015C $500 Kay Wind Facility Dec-2015 299 5,195 3.7 M 486 K
Decatur Parkway Solar Facility5 Dec-2015
2015D $500 Solar Gen 2 Solar Facility6 Nov-2014 163 1,244 (2017) 0.9 M (2017) 114 K
June 2016 2016A7, 2016B7 $1,241 Desert Stateline Solar Facility Jul-2016 300 3,176 2.3 M 297 K
Decatur Parkway Solar Facility Dec-2015 84 923 0.7 M 86 K
PawPaw Solar Facility Mar-2016 30 324 0.2 M 31 K
Passadumkeag Windpark Jul-2016 42 664 0.5 M 68 K
November 2016 2016D, 2016E $900 Boulder Solar 1 Facility Dec-2016 100 1,320 0.95 M 124 K
Grant Wind Facility Apr-2016 151 2,436 1.8 M 228 K
Grant Plains Wind Facility Dec-2016 147 2,523 1.8 M 236 K
Wake Wind Energy Center Oct-2016 257 5,444 3.9 M 510 K
January 2021 2021A $400 Wildhorse Mountain Wind Facility8 Dec-2019 100 - - -
Deuel Harvest Wind Farm8 Feb-2021 300 - - -
Southern Power (Total) $3,541 1,973
MW
23,248 GWh 16.7 M mt 2,180 K homes
Southern Company (Total) $3,866 2,125
MW
24,408 GWh 17.5 M mt 2,289 K homes

1 Environmental data is as of 12/31/2020 while issuance data is as of 5/31/2021; environmental data shows 100% of each project

2 Click an issuance to view details about that issuance and its associated projects

3 Carbon offset factor = 0.709 based on 2019 methodology per EIA online calculator https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

4 Number of homes factor = 0.09502 based on EIA average 877 kWh per month electricity consumption for 2019 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3

5 Southern Power partially funded the Decatur Parkway Solar Facility with proceeds from both the November 2015 green bond issuance, as well as the June 2016 green bond issuance; environmental statistics for this project are shown under the June 2016 issuance

6 In conjunction with the Series 2015D maturity in November 2017, Southern Power no longer reports environmental metrics for the Solar Gen 2 Solar Facility (as it is no longer tied to allocated proceeds); as such, the environmental metrics shown for the Solar Gen 2 Solar Facility are as of December 31, 2017

7 U.S. dollar equivalent for the Series 2016A issuance (€600M) and Series 2016B issuance (€500M) is shown (converted using an exchange rate of $1.1283 per €1.00, based on prevailing exchange rates as of June 13, 2016)

8 Environmental data for Southern Power's 2021A issuance will be reported beginning in 2022

Southern Company Green Bonds Summary1

$ amounts in Millions
Issuer Date Issued Series2 Coupon Principal
Amount
Issued
Principal
Amount
Outstanding
Maturity CUSIP
Southern Power Nov-2015 2015D 1.85% $500 $0 Dec-2017 843646AN0
Southern Power Nov-2015 2015C 4.15% $500 $500 Dec-2025 843646AM2
Southern Power Jun-2016 2016A3 1.00% $677 $677 Jun-2022 843646AP5
Southern Power Jun-2016 2016B3 1.85% $564 $564 Jun-2026 843646AQ3
Southern Power Nov-2016 2016D 1.95% $600 $0 Dec-2019 843646AS9
Southern Power Nov-2016 2016E 2.50% $300 $300 Dec-2021 843646AT7
Southern Power Jan-2021 2021A 0.90% $400 $400 Jan-2026 843646AW0
Georgia Power Mar-2016 2016A 3.25% $325 $325 Apr-2026 373334KE0
Southern Power $3,541 $2,441
Georgia Power $325 $325
Southern Company (Total) $3,866 $2,766

1 As of 5/31/2021

2 Click a Series to view its Prospectus Supplement

3 U.S. dollar equivalent for the Series 2016A issuance (€600M) and Series 2016B issuance (€500M) is shown (converted using an exchange rate of $1.1283 per €1.00, based on prevailing exchange rates as of June 13, 2016)