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Panasonic & Gulf Power develop 120MW US military PV project in Florida

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01/20/2017 | 09:35am CET

Southern Company-owned Gulf Power has teamed with Coronal Energy, powered by Panasonic, to develop a 120MW PV portfolio at a military base in Florida.

Three separate facilities will be developed and known as the Gulf Coast Solar Centre Portfolio, comprised of:

50MW NAS Pensacolas NOLF Saufley

40MW NAS Whiting Fields NOLF Holley

30MW Eglin Air Force Base

Once complete, the combined facilities will be among the Sunshine States largest solar projects and will include around 1.5 million First Solar modules and generate enough clean electricity to power 18,000 homes annually.

Coronal Energy is constructing the three facilities in Northwest Florida. The projects broke ground in November and all are expected to become operation during summer 2017.

At an inauguration ceremony yesterday, officials from Eglin Air Force Base and the Naval Air Station (NAS) Pensacola joined executives from Gulf Power and Coronal Energy for the installation of the first two PV panels on the projects.

"These projects exemplify our commitment to leveraging strong partnerships and innovative solutions to develop large-scale solar projects that deliver clean energy to a diverse set of customers," said Jonathan Jaffrey, chairman and CEO of Coronal Energy at the ceremony. "The collaborative approach to the development of the Gulf Coast Solar Centre Portfolio represents a smarter approach to pursuing solar energy, and may serve as a model for future public/private sector renewable energy initiatives."

The energy generated by the three projects will serve Gulf Power customers across Northwest Florida.

Jim Doyle, president of Panasonic Enterprise Solutions Company, added: "Solar is the world`s fastest-growing energy source. With these projects, Gulf Power in cooperation with the Air Force and the Navy takes a big step forward adding clean, resilient, domestic renewable energy to its portfolio for the benefit of its customers. They`re showing how going solar translates to smart business and smart government, not just for residents and businesses in Florida but also across the country."

(c) 2017 MediaQuest Corp. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 18 815 M
EBIT 2016 4 984 M
Net income 2016 2 627 M
Debt 2016 38 876 M
Yield 2016 4,53%
P/E ratio 2016 17,27
P/E ratio 2017 16,51
EV / Sales 2016 4,62x
EV / Sales 2017 4,02x
Capitalization 48 079 M
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Southern Co Technical Analysis Chart | SO | US8425871071 | 4-Traders
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Mean consensus HOLD
Number of Analysts 20
Average target price 50,9 $
Spread / Average Target 3,7%
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Thomas A. Fanning Chairman, President & Chief Executive Officer
Kimberly S. Greene Chief Operating Officer & Executive Vice President
Arthur P. Beattie Chief Financial Officer & Executive Vice President
Warren A. Hood Independent Director
Donald M. James Independent Director
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