There are a number of activities underway within the California legislature, California PUC, and at the big three power companies to allow solar power farms in the 1-20MWp range. In addition, the California Renewable Energy Transmission Initiative illustrates numerous other projects greater than 100MWp. Commercial Solar Design understands that the required 33% alternative energy generation mandate coming from the Governor of California helps make this type of Solar power Energy plant viable in the short-term and long-term. This article is focused on twenty MW solar power projects using 140 or more acres.
Most solar farm development teams search for the ideal piece of land and offer a solar land lease for the land. Many land owners are not enthusiastic about selling but evaluate leasing. Upon close inspection the landowner learns that the lease option is not so good.
A solar land lease decision ties up your land for 3 years and then if the project is built an additional 25 years at a fixed price. Since many PPAs do not offer an escalator many solar land lease don't offer one either. The solar farm groups desire to increase their profits at the expense of the property owner. After three to four years the property owner tires of the lease but is stuck for the rest of 20 years.
There exists a different program which addresses this challenge in a number of ways as discussed in this article.
The land owner participates directly together with Commercial Solar Design like a co-developer. Owner's participation includes a limited $550-775K to pay for permitting, application expenses and other costs. Most of this cost is a power company down payment of $20K/MW applied for. Ex. 20MWp application involves $400K down payment.
Just about the most important parts of this system is the legal framework as well as specialized work required to compliment the initial development work so a project can be shovel ready. By operating together the property owner keeps cost down but moreover participates in the upside from the project well over and above a simple lease payment.
If the project is close to receiving a power purchase agreement it's offered to investment groups who are positioned to take a position but not operate the solar farm project. Such groups come in and do the heavy-lifting financially by providing the construction funds etc. The key to any project is always to have the permitting to construct and a power purchase agreement.
If the project funds the landowner will get his original capital outlay back 2x. The land lease is negotiated at a competitive rate plus the property owner receives an equity position within the project. The long term equity position is of terrific value but could also be negotiated as a one-time net current value buyout.
Yet another option for 20MWp solar farms involves the scenario where the acreage is held by an individual or investor group who finance the whole project in house. Commercial Solar Design provides complete services from permitting to interconnection and recurring operations and maintenance.
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