SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 31, 2006
Commission File Number | Registrant, State of Incorporation, Address and Telephone Number | I.R.S. Employer Identification No. |
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333-98553 | Southern Power Company (A Delaware Corporation) 30 Ivan Allen Jr. Blvd. N.W. Atlanta, Georgia 30308 (404) 506-5000 | 58-2598670 |
The address of the registrant has not changed since the last report.
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.01 | Completion of Acquisition or Disposition of Assets. |
On May 31, 2006, Southern Power Company (“Southern Power”) acquired all of the outstanding membership interests of DeSoto County Generating Company, LLC (“DeSoto”) from a subsidiary of Progress Energy, Inc. Southern Power’s acquisition of the membership interests in DeSoto was pursuant to a Purchase and Sale Agreement dated May 8, 2006, for an aggregate purchase price of approximately $80 million. DeSoto owns a dual-fueled generating plant near Arcadia, Florida with a nominal installed capacity of 320 megawatts. All of the plant’s capacity and associated energy is sold under power purchase agreements (“PPAs”) with Florida Power & Light Company. The PPAs expire in 2007.
Item 9.01 | Financial Statements and Exhibits. |
2.1*# | Purchase and Sale Agreement by and between Progress Genco Ventures, LLC and Southern Power Company – DeSoto LLC dated May 8, 2006. |
2.2 | Assignment and Assumption Agreement between Southern Power Company – Desoto LLC and Southern Power effective May 24, 2006. |
* | Southern Power has requested confidential treatment for certain portions of this document pursuant to an application for confidential treatment sent to the Securities and Exchange Commission. Southern Power has omitted such portions from this filing and filed them separately with the Securities and Exchange Commission. |
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# | Omits schedules and exhibits. Southern Power agrees to provide supplementally the omitted schedules and exhibits to the Securities and Exchange Commission upon request. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 5, 2006 | SOUTHERN POWER COMPANY |
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| By /s/Wayne Boston Wayne Boston Assistant Secretary |
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