Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1930

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1930
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 2024, Mississippi Power entered into an agreement with FP&L to acquire FP&L's 50% ownership interest in Plant Daniel Units 1 and 2. See Note 2 under "Mississippi Power – Plant Daniel" for additional information.

Southern PowerSouthern Power's acquisition-related costs for the projects discussed under "Asset Acquisitions" and "Construction Projects" were not material for any of the years presented.Asset AcquisitionsDuring 2023, Southern Power acquired the Millers Branch and South Cheyenne projects, as discussed further under "Construction Projects" below, with an aggregate purchase price of $193 million. There were no asset acquisitions during 2024 and 2022.Construction ProjectsDuring 2024, Southern Power completed construction of and placed in service the 150-MW South Cheyenne solar facility. In addition, Southern Power continued construction of the 200-MW first phase and began construction of the 180-MW second phase and the 132-MW third phase of the Millers Branch solar facility. At December 31, 2024, the total cost of construction incurred for the Millers Branch project was $292 million, which is primarily included in CWIP.ProjectFacilityResourceApproximate Nameplate Capacity (MW)LocationActual/Projected CODPPA Contract PeriodProjects Under Construction at December 31, 2024Millers BranchPhase ISolar200Haskell County, TXFourth quarter 202520 yearsPhase IISolar180Haskell County, TXSecond quarter 202615 yearsPhase IIISolar132Haskell County, TXFourth quarter 202615 yearsProjects Completed During 2024South CheyenneSolar150Laramie County, WYApril 202420 yearsProjects Completed During 2022Garland Solar Storage(a)Battery energy storage88Kern County, CASeptember 2021 through February 2022(b)20 yearsTranquillity Solar Storage(a)Battery energy storage72Fresno County, CANovember 2021 throughMarch 2022(c)20 years(a)Southern Power consolidates each project's operating results in its financial statements and the tax equity partner and two other partners each own a noncontrolling interest. See Note 9 under "Lessor" for additional information.(b)The facility has a total capacity of 88 MWs, of which 73 MWs were placed in service in 2021 and 15 MWs were placed in service in 2022.(c)The facility has a total