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.