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Projects

Learn about Projects for MEAG Power, including MEAG Power Projects Overview, Project One, and Projects Two, Three and Four – General Resolution Projects.

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MEAG Power Projects Overview

Our Projects

Project One, established and financed under the Power Revenue Bond Resolution, consists of undivided ownership interests in nine generating units, separately owned transmission facilities and working capital.

Projects Two, Three and Four (the General Resolution Projects), established and financed under the General Power Revenue Bond Resolution, consist of additional undivided ownership interests in seven generating units.

The Combined Cycle Project, established and financed under the Combined Cycle Project Bond Resolution, consists of 100% ownership in Wansley Unit 9.

MEAG Power also has an ownership interest, through the Project Entities M , J and P, in two additional nuclear generating units under construction at Plant Vogtle, Units 3 and 4, which are estimated to come online in 2021 and 2022.

Plant Vogtle Units 1 & 2

Project One

Project One (acquired in 1977 and in subsequent transactions) established and financed under the Power Revenue Bond Resolution, consists of 17.7 percent ownership interest in Generation Station Hatch and Generation Station Vogtle (photo, right), each consisting of two nuclear generating units and common facilities, 10.0 percent ownership interest in the two coal-fired generating units and common facilities at Generation Station Wansley, including the Generation Station Wansley Combustion Turbine, 10.0 percent ownership interest in two of the four coal-fired generating units (Generation Station Scherer Unit Nos. 1 and 2), and 5.0 percent ownership interest in the common facilities at Generation Station Scherer, certain transmission system facilities and working capital.

MEAG Power’s ownership interests included in Project One represent a total of 693 MW of nominally rated nuclear capacity, 335 MW of nominally rated coal-fired capacity, and 5 MW of combustion turbine capacity. Georgia Power Company (GPC), Oglethorpe Power Corporation (an Electric Membership Corporation) (OPC) and the City of Dalton, Georgia (Dalton Utilities) are co-owners of the generating units with MEAG Power.  GPC has contracted to operate and maintain these jointly-owned facilities as agent for the respective co-owners.

In addition to these generation facilities, MEAG Power, GPC, and Georgia Transmission Corporation (GTC; formerly OPC transmission division) and Dalton Utilities are joint owners of the Integrated Transmission System (ITS), which provides transmission access to 90 percent of transmission systems in the State of Georgia. The ITS was first formed in l973 and represents an asset for all its owners as it ensures checks and balances on individual new investment expenditures while providing each owner nearly statewide access. Individual transmission lines and substations are owned and maintained by the individual entities but they are planned and operated as one system. GPC has contracted to operate and maintain these jointly-owned facilities as agent for the respective co-owners.

MEAG Power’s ITS facilities and other transmission facilities consist of approximately 1,323 miles of transmission lines, 18 transmission substations, and 194 distribution substations and certain distribution substation investments at certain substations owned by GPC and GTC.  MEAG Power’s aggregate investment in such facilities at year-end 2019 totaled approximately $860.5 million.

Project One is supported by take-or-pay contracts with each of MEAG Power’s 49 Participants in such projects, which are entitled to a percentage, or Entitlement Share. Each Participant is obligated to pay a percentage equal to its Entitlement Share of MEAG Power’s costs with respect to such generation and transmission facilities.  To the extent capital improvements for these project are not paid from revenues, the costs are financed under the Power Revenue Bond Resolution.

Plant Scherer

Projects Two, Three and Four – General Resolution Projects

Project Two (acquired in 1978 and in subsequent transactions), established and financed under the General Power Revenue Bond Resolution, consists of an additional 5.1 percent ownership interest in the two coal-fired generating units and the common facilities at Generation Station Wansley, including the Generation Station Wansley Combustion Turbine, additional 5.1 percent ownership interests in Generation Station Scherer (photo, right) Unit Nos. 1 and 2, and an additional 2.55 percent ownership interest in the common facilities at Generation Station Scherer and working capital.

Project Three (acquired in 1980), established and financed under the General Power Revenue Bond Resolution consists of an additional 15.1 percent ownership interest in Generation Station Scherer Unit Nos. 1 and 2 and an additional 7.55 percent ownership interest in the common facilities at Generation Station Scherer and working capital.

MEAG Power’s fourth project (“Project Four” and, together with Project Two and Project Three, the “Existing General Resolution Projects”) acquired in 1984 and established and financed under the General Power Revenue Bond Resolution, consists of  an additional 5.0 percent ownership interest in the original two nuclear generating units and the common facilities at Generation Station Vogtle and working capital. MEAG Power’s generating interests in the Existing General Resolution Projects represent a total of 115 MW of nominally rated nuclear capacity, 415 MW of nominally rated coal-fired capacity, and 3 MW of combustion turbine capacity.

Project Two, Three, and Four are supported by take-or-pay power sales contracts with 48 out of the 49 MEAG Power Participants in such projects, which are entitled to a percentage, or Entitlement Share.  Each Participant is obligated to pay a percentage equal to its Entitlement Share of MEAG Power’s costs with respect to such generation facilities. To the extent capital improvements for these project are not paid from revenues, the costs are financed under the General Power Revenue Bond Resolution.

Plant Wansley Combined Cycle

The Combined Cycle Project

The Combined Cycle Project (“CC Project”) began commercial operation on June 1, 2004. The CC Project is a separate project from Project One and the General Resolution Projects, as described above. The CC Project is wholly owned by MEAG Power and consists of a natural gas-fired combined-cycle facility (photo, right) that has a nominal summer capacity of 503 MW. The facility, which is also known as Wansley Unit 9, includes two combustion turbines, two supplementary fired heat recovery steam generators, and one steam turbine.

The CC Project is supported by take-or-pay power sales contracts with 37 of MEAG Power’s Participants, which are entitled to a percentage or Entitlement Share. Each Participant is obligated to pay a percentage, equal to its Entitlement Share, of MEAG Power’s costs with respect to such generation facilities. To the extent capital improvements for these project are not paid from revenues, the costs are financed under the Combined Cycle Project Resolution.

Plant Vogtle Unit 4 Containment Vessel Top Head Placement

Projects M, J, and P – the Vogtle Units 3&4 Project

MEAG Power, through the Vogtle Units 3&4 Project Entities, is also a participant, along with GPC, OPC and Dalton, in Vogtle Units 3&4. Vogtle Units 3&4 will consist of two Westinghouse AP1000 reactors, each with a nominally rated generating capacity of 1,102 MW.  MEAG Power’s ownership interest in Vogtle Units 3&4 was 22.7 percent, representing 500.308 MW of nominally rated generating capacity. 

MEAG Power structured its ownership interest in Vogtle Units 3&4 into three separate projects. The first project (“Project M”) comprised approximately 33.871 percent of MEAG Power’s ownership interest, representing 169.458 MW of generating capacity based upon the nominal rating of Vogtle Units 3&4. The second project (“Project J”) comprised approximately 41.175 percent of MEAG Power’s ownership interest, representing 206.000 MW of generating capacity based upon the nominal rating of Vogtle Units 3&4. The third project (“Project P”) comprised approximately 24.955 percent of MEAG Power’s ownership interest, representing 124.850 MW of generating capacity based upon the nominal rating of Vogtle Units 3&4. 

Project M, Project J, and Project P are collectively referred to as the “Vogtle Units 3&4 Projects.” On June 24, 2015, MEAG Power transferred its ownership interest in Vogtle Units 3&4 to the Vogtle Units 3&4 Project Entities. As a result of its entry into the Vogtle Units 3&4 Power Purchase Agreements, MEAG Power is entitled to all of the capacity and output of each Vogtle Units 3&4 Project Entity’s Ownership Interest in Vogtle Units 3&4, and the Vogtle Units 3&4 Projects now include all of MEAG Power’s right, title, and interest in and to the capacity and output of such Ownership Interests.

Project M, Project J, and Project P are supported by take-or-pay power sales contracts with 29, 39 and 39, respectively, of MEAG Power’s Participants, which are entitled to a percentage, or Entitlement Share. In addition, Project J and Project P are supported by take-or-pay purchase power agreements with JEA and PowerSouth Cooperative, respectively, for the first 20 years of operation after the commercial operation date of each unit.

Each Participant, JEA, and PowerSouth are obligated to pay a percentage, equal to its Entitlement Share, of MEAG Power’s costs with respect to such generation facilities. To the extent capital improvements for these projects are not paid from revenues, the costs are financed under the Project M Resolution, Project J Resolution or Project P Resolution, respectively.