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Acquisitions and Dispositions | 9 Months Ended
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Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions and Dispositions | ACQUISITIONS AND DISPOSITIONS See Note 15 to the financial statements in Item 8 of the Form 10-K for additional information. Alabama Power On September 30, 2025, Alabama Power completed its acquisition of Tenaska Alabama Partners, L.P., which owned and operated the Lindsay Hill Generating Station. The transaction was accounted for as a business combination. The total purchase price was $635 million, of which $622 million was related to net assets recorded within property, plant, and equipment and the remainder was included in inventory, current receivables, and accounts payable on the balance sheet. The transaction was recorded as a business acquisition within the investing section of the statement of cash flows. Alabama Power assumed an existing power sales agreement under which the full output of the generating facility remains committed to a non-affiliated third party through April 2027. See Note (B) under "Alabama Power – Petition for Certificate of Convenience and Necessity" for additional information. Mississippi Power On July 30, 2025, Mississippi Power completed the acquisition of FP&L's 50% interest in Plant Daniel Units 1 and 2 and, as part of the acquisition, received approximately $36 million from FP&L. See Note (B) under "Mississippi Power – Plant Daniel" for additional information. Southern Power Construction Projects During the nine months ended September 30, 2025, Southern Power continued construction of the three phases of the 512-MW Millers Branch solar facility. At September 30, 2025, the total cost of construction incurred for the Millers Branch project was $661 million, which is primarily included in CWIP. The ultimate outcome of these matters cannot be determined at this time.
Project Facility | Resource | Approximate Nameplate Capacity (MW) | Location | Projected COD | PPA Contract Period
Projects Under Construction at September 30, 2025
Millers Branch |  |  |  |  |
Phase I | Solar | 200 | Haskell County, TX | Fourth quarter 2025 | 20 years
Phase II | Solar | 180 | Haskell County, TX | Second quarter 2026 | 15 years
Phase III | Solar | 132 | Haskell County, TX | Fourth quarter 2026 | 15 years
Wind Repowering Projects During the nine months ended September 30, 2025, Southern Power continued the development project to repower the Kay Wind facility and began development projects to repower the Grant Plains, Grant Wind, and Wake Wind facilities. At September 30, 2025, the total cost of construction incurred related to the projects was $165 million and is included in CWIP. The repowered output of the facilities is contracted under new and amended PPAs. The ultimate outcome of these matters cannot be determined at this time.
Project Facility | Resource | Approximate Nameplate Capacity (MW) | Location | Projected COD
Projects Under Construction at September 30, 2025
Kay Wind(*) | Wind | 200 | Kay County, OK | Third quarter 2026
Grant Plains | Wind | 147 | Grant County, OK | Fourth quarter 2026
Grant Wind | Wind | 152 | Grant County, OK | Fourth quarter 2026
Wake Wind | Wind | 257 | Crosby & Floyd Counties, TX | Second quarter 2027
(*)The facility has a total capacity of 299 MWs, of which 200 MWs is projected to be repowered and is contracted under a PPA.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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