Southern's Georgia Power announced today that it has added 53.5 MW of biomass capacity to its generation portfolio through a 20-year purchase power agreement with Rollcast Energy.
The capacity will come exclusively from Rollcast's newly operational Piedmont Green Power plant in Barnesville, Ga., and will provide electricity to power around 35,000 homes.
"We continue to implement a strategy that diversifies our generation portfolio through renewable sources that are cost-effective for our customers," said Georgia Power President and CEO Paul Bowers in a statement today. "Our customers want safe, clean, reliable, and affordable energy, and that's a commitment we will keep."
According to the release, the plant will fuel itself on forestry byproducts from nearby areas. Rollcast expects annual consumption to reach 500,000 tons, and it will retain all renewable-energy credits. Although Rollcast itself is a private corporation, Atlantic Power acquired a 60% equity interest in the company in 2009.
The article Southern Adds 53 MW of Biomass to Renewables Portfolio originally appeared on Fool.com.
Motley Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool recommends Southern. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.