Southern Co. Buys California Solar Plant From Canadian Solar

Southern Co. said Monday its subsidiary Southern Power will acquire a controlling interest in a 200-megawatt solar plant in California from Recurrent Energy, a unit of Canadian Solar Inc. The solar plant, called Tranquility, will be the first partnership between the two companies. The plant is going up in Fresno County, central California, and its power is to be sold to Southern California Edison under a 15-year power purchase agreement. The plant is expected to start operating at the end of 2016. Shares of Canadian Solar rose 1% on Monday, while shares of Southern declined 1.5%.