July 17 (Renewables Now) - US utility Georgia Power has received regulatory approval to expand its renewables portfolio with 2,260 MW of wind, solar and biomass capacity and to also own and operate 80 MW of energy storage systems.
The Georgia Public Service Commission (PSC) has given its nod to the utility’s 2019 Integrated Resource Plan (IRP) that will see it boost its installed renewables capacity by 72% and make it account for 22% of its total portfolio by 2024. By that year, Georgia Power’s renewables will grow to 5,390 MW, the company said on Tuesday.
"Through the IRP process, Georgia Power will continue to invest in a diverse energy portfolio including the development of renewable resources in a way that benefits all customers to deliver clean, safe, reliable energy at rates that are well below the national average," said Allen Reaves, Georgia Power's senior vice president and senior production officer.
Under the IRP, Georgia Power will invest in improving its power system and proceed with five hydropower projects. The plan also includes initiatives for enhancing energy efficiency and retiring coal-fired capacity so as to trim the utility’s coal-fired assets by 50% as compared to 2005.
Georgia Power, a unit of energy group Southern Company (NYSE:SO), currently services 2.6 million customers in Georgia.