Southern Company Unit Partners With AMS For Energy Projects
Zacks Investment Research | Jul 02, 2017 10:38PM ET
Backup power firm, PowerSecure, a subsidiary of electric utility The Southern Company (NYSE:SO) recently formed a partnership with energy storage company, Advanced Microgrid Solutions or AMS to develop behind-the-meter distributed energy projects across the US.
PowerSecure, which is famous for creating one of the biggest fleets of microgrid solutions in the country with more than 1.5 gigawatts of distributed energy resources under its management, is expected to contribute to project design, engineering, and innovative technology solutions as part of the partnership.
On the other hand, AMS, one of the early innovators in the field of battery storage users, will provide economic asset management through its Armada software platform, identify revenue streams and look for opportunities for grid services in projects. AMS develops hybrid electric buildings that use batteries for energy storage at times when energy is abundant on the grid. The building shifts its energy source from grid power to the batteries as demand rises, which reduces costs for the clients.
The partnership is in line with PowerSecure’s plan to provide consumers greater control over their energy usage and cost effective service across multiple technologies. The alliance will bring together available skill sets to optimize energy storage for consumers by storing energy for the peak hours, helping clients to access greater market revenues. The partnership will focus on areas where distributed energy resources are economically viable.
About the Company
PowerSecure is a subsidiary of Southern Company and was acquired by the later in Feb 2016 for $431 million.
Atlanta, GA-based Southern Company is one of the largest utilities in the U.S. Following its merger with AGL Resources (NYSE:GAS) on Jul 1, 2016, Southern Company now serves approximately nine million customers through its eleven electric and natural gas distribution units in nine states. It boasts of a generating capacity of 44,000 megawatts, around 200,000 miles of electric transmission and distribution lines and more than 80,000 miles of natural gas pipelines.
Southern Company’s operations include wholesale electricity generation and natural gas services, retail energy services and natural gas storage operations throughout the country. Southern Company's electrical utilities include Alabama Power, Georgia Power, Gulf Power and Mississippi Power, while its natural gas utilities consist of Southern Company Gas (formerly AGL Resources), Atlanta Gas Light, Chattanooga Gas, Elizabethtown Gas, Elkton Gas, Florida City Gas, Nicor Gas and Virginia Natural Gas.
Price Performance
In the past six months, Southern Company’s shares declined 2.3%, while the Zacks categorized Zacks Investment Research
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