Southern Company subsidiary acquires the Boulder Solar I Facility in Nevada

Southern Company

ATLANTA, GA– November 22, 2016 — Southern Company subsidiary Southern Power and SunPower Corp. today announced that Southern Power has acquired a controlling interest in the 100-megawatt (MW) Boulder Solar I Facility in Nevada from SunPower, which will own the remaining interest in the project.

“Our recent acquisition of the Boulder Solar I Facility underscores Southern Power’s growing success in acquiring and developing utility-scale solar across the United States,” said Southern Power President and CEO Buzz Miller. “This project aligns with our business model as we strategically develop our renewable portfolio.”

The Boulder Solar I Facility is located in Clark County, approximately 20 miles southeast of Las Vegas. Southern Power co-owns two additional solar facilities in Nevada, the 20-MW Apex Solar Facility and the 30-MW Spectrum Solar Facility.

“With over 30 years’ experience and more than 2.6 gigawatts of innovative solar power plants operating around the world, SunPower is a global leader driving the adoption of reliable, cost-effective solar power at utility scale,” said Ty Daul, SunPower Senior Vice President, Americas Power Plants. “We are proud to partner with Southern Power to deliver long-term value to Nevada customers through the Boulder Solar I Facility.”

Construction of Boulder Solar I began in January 2016 and the facility is expected to begin commercial operation in December 2016. SunPower developed, designed and constructed the plant, and will operate and maintain it upon completion. NV Energy will purchase the electricity and associated portfolio energy credits generated by the facility under a 20-year power purchase agreement. Boulder Solar I operates using SunPower® Oasis® Power Plant technology, a fully integrated, modular solar power block that is engineered to rapidly and cost-effectively deploy large solar projects that maximize power generation while optimizing land use.

With the addition of the Boulder Solar I Facility, Southern Power owns more than 2,700 MW of renewable generation from 33 solar, wind and biomass facilities either announced, acquired or under construction. In total, the Southern Company system has added or announced more than 4,000 MW of renewable generation since 2012.

The Boulder Solar I project fits Southern Power’s business strategy of growing its wholesale business through the acquisition and construction of generating assets substantially covered by long-term contracts.

About Southern Power

Southern Power, a subsidiary of Southern Company, is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers. Southern Power and its subsidiaries own or have the rights to 43 facilities operating or under construction in 11 states with more than 12,000 MW of generating capacity in Alabama, California, Florida, Georgia, Maine, Minnesota, Nevada, New Mexico, North Carolina, Oklahoma and Texas.

About SunPower

As one of the world’s most innovative and sustainable energy companies, SunPower (NASDAQ: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower’s more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

About Southern Company

Southern Company (NYSE: SO) is America’s premier energy company, with 44,000 MW of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million electric and gas utility customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric utilities in four states, natural gas distribution utilities in seven states, a competitive generation company serving wholesale customers across America and a nationally recognized provider of customized energy solutions, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are inventing America’s energy future by developing the full portfolio of energy resources, including carbon-free nuclear, 21st century coal, natural gas, renewables and energy efficiency, and creating new products and services for the benefit of customers. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity by DiversityInc, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a Top Employer for Hispanics by Hispanic Network. The company has earned a National Award of Nuclear Science and History from the National Atomic Museum Foundation for its leadership and commitment to nuclear development and is continually ranked among the top utilities in Fortune’s annual Worlds Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.

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