Alabama Power and Georgia Power Enter Into DOE Loan Guarantee Agreements

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Department of Energy (DOE) and the Federal Financing Bank (FFB) to establish credit facilities for eligible projects. The agreements enable each company to borrow up to specified maximum amounts to finance projects such as new gas generating units, transmission line upgrades, and other eligible infrastructure developments. The credit facilities are subject to conditions and events of default, and the DOE has the right to declare all outstanding amounts due upon certain events. Issuance costs were also incurred by the companies in connection with these agreements.

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About Southern Company

Southern Company is a leading energy company in the United States, primarily focusing on electricity generation, transmission, and distribution. It serves a substantial customer base across the southern region of the U.S., providing reliable electric service through its subsidiaries. The company generates electricity through various energy sources, including natural gas, coal, nuclear, and renewables, reflecting its commitment to a diverse energy portfolio. Southern Company plays a vital role in the utilities sector, significantly impacting the energy infrastructure and economic development of the regions it serves. Its efforts towards sustainability and innovation are noteworthy, aiming to incorporate cleaner energy solutions to reduce carbon emissions. Headquartered in Atlanta, Georgia, Southern Company is a critical entity in the utility industry and is known for its robust service delivery and strategic investments in energy technologies. Its operations encompass traditional utility services, wholesale energy services, and energy infrastructure development, making it a key player in shaping the future of energy in the United States.