Southern Company Logo
  • Corporate Governance
    • Documents & Charters
    • Board of Directors
    • Management Council
    • SEC Filings by Directors and Officers
    • Committee Composition
    • SEC Filings
    • Governance Inquiries
    • Political Contributions
    • Anti-Hedging Provisions
    • Corporate Governance
  • Stock Information
    • Stock Quote & Chart
    • Historic Stock Lookup
    • Analyst Coverage
    • Dividends
    • Southern Company Gas
    • POWR Historic Stock Pricing
    • Stock Information
  • Financial Information
    • Investor Fact Sheet
    • Annual Reports
    • Quarterly Results
    • SEC Filings
    • Webcasts & Presentations
    • 2019 Southern Company Annual Meeting of Stockholders
    • Financial Information
  • Shareowner Services
    • Transfer Agent
    • Southern Investment Plan
    • Frequently Asked Questions
    • Shareowner Services
  • Green Bonds
    • Green Bonds Overview
    • Southern Power
    • Georgia Power
    • Green Bonds
  • Investors
  • Newsroom
  • Careers
Search
Menu

Search Site

Home:Information for Investors:Green Bonds:Green Bonds Overview

Green Bonds

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 7 series of green bonds totaling nearly $3.5 billion since 2015.

Net proceeds of ~$3.5 billion from green bonds have been invested in eligible green projects. Since 2015, these projects have generated approximately 19,600,000 megawatt hours (MWh) of carbon-free electricity, which is enough to power more than 1.8 million homes, while also offsetting more than 14,000,000 metric tons of CO2.

  • Southern Power has issued 6 series of green bonds totaling $3.1 billion of gross proceeds. Since 2015, the combined proceeds from Southern Power’s green bond issuances have partially funded the construction of 10 eligible green projects. These 10 eligible green projects consist of 5 wind projects in Maine, Oklahoma and Texas, as well as 5 solar projects in California, Nevada and Georgia. Collectively, these projects have generated approximately 18,700,000 MWh of carbon-free electricity and offset more than 13,000,000 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. These projects have generated approximately 890,000 MWh of carbon-free electricity and offset over 600,000 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.

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($MM)
Project In-Service Date Capacity (MW) Electricity
Generated
(MWh)
Total CO2
Offest
(mt)3
Home
Power
Equilvalent4
Georgia Power March 2016 2016A $325 Fort Benning Solar Dec-2015 30 226,008 161,647 21,059
Fort Gordon Solar Oct-2016 30 184,920 132,889 17,260
Fort Stewart Solar Oct-2016 30 177,870 127,891 16,597
Kings Bay Solar Dec-2016 30 178,245 128,239 16,635
Marine Corps Logistics Base Feb-2018 31 116,875 51,524 10,931
UGA Solar Project Feb-2016 1 7,316 5,238 682
Georgia Power (Total) $325 152 MW 891,233 MWh 607,427 mt 83,164 Homes
Southern Power November 2015 2015C $500 Kay Wind Facility Dec-2015 299 4,217,502 3,018,465 392,862
Decatur Parkway Solar Facility5 Dec-2015
2015D $500 Solar Gen 2 Solar Facility6 Nov-2014 163 1,243,606 (2017) 884,689 (2017) 114,249 (2017)
June 2016 2016A7, 2016B7 $1,241 Desert Stateline Solar Facility Jul-2016 300 2,522,158 1,805,411 235,114
Decatur Parkway Solar Facility Dec-2015 84 749,824 536,119 69,830
PawPaw Solar Facility Mar-2016 30 263,057 188,193 25,191
Passadumkeag Windpark Jul-2016 42 521,140 373,248 54,365
November 2016 2016D, 2016E $900 Boulder Solar 1 Facility Dec-2016 100 1,038,572 752,562 96,841
Grant Wind Facility Apr-2016 151 1,865,803 1,346,003 174,046
Grant Plains Wind Facility Dec-2016 147 1,992,155 1,442,625 185,725
Wake Wind Energy Center Oct-2016 257 4,291,979 3,108,922 400,213
Southern Power (Total) $3,141 1,573 MW 18,705,796 MWh 13,456,236 mt 1,748,436 Homes
Southern Company (Total) $3,466 1,725 MW 19,597,029 MWh 14,063,664 mt 1,831,600 Homes

1. As of 12/31/2019

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

3. Carbon offset factor = 0.707 based on 2018 methodology per EIA online calculator https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

4. Number of homes factor = 0.091174 based on EIA average 914 kWh per month electricity consumption for 2018 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)

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
Georgia Power Mar-2016 2016A 3.25% $325 $325 Apr-2026 373334KE0
Southern Power $3,141 $2,041
Georgia Power $325 $325
Southern Company (Total) $3,466 $2,366

1. As of 12/31/2019

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)

  • About Us
  • Our Companies
  • Corporate Responsibility
  • Innovation
  • Investors
  • Newsroom
  • Careers
  • Site Map
Southern Company

© 2016 Southern Company. Use constitutes acceptance of General Website Terms and Conditions | Revised Privacy Statement | Contact Us

Connect With Us

  • facebook
  • twitter
  • linked in
  • youtube
  • google plus