Solar land auction nets two sales, more slated - Charlotte Business Journal:

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million, with a third deal potentially in the Buyers of the small parcelss werenot identified, but Kuldip president and CEO of , which sold the said the buyers had interestg in developing the land's solar potential. Vermaland also is lookingv at sellinga 3,600-acre parcel at auction within the next six monthsd in the county’s western reaches. While the first auction focusedr on fivesmaller parcels, a larger, contiguous site such as Vermaland’sw could draw a higher premium, if companiezs believe it has access to water and power “Several large-scale utility companies have expressed interest in the propertuy once the site is developed,” said who added the site has water rights, on-site welld and a low slope.
While the companty was able to sell thetwo parcels, prices were belowe what neighboring land has been selling for. The goal was to spur solart companies to purchase land rathert than simply tieit up, Verma said. The properties sold at Saturday’s auction include d an 80-acre site in the Tonopah area for $340,00 0 and a 320-acre site in Tonopabh for $2.24 million. The company did not identify which of the remaininb three properties might be involved inanother deal.
“The auction brought the properties to the attentio n of some parties that we had never been incontacgt with, as well as reminded otherx we had spoken with in the past of the property, whicuh is highly suitable for solar development,” said Anit a Verma-Lallian, the company’s marketing Vermaland already had sold land to several California-based utilities looking to develop renewable resources to meet that state’ s standards for clean energy. Solar energy developers have been placing applicationsa on state and federal landws in western Arizona for the pastthree years, and privatwe land owners have been negotiating as developerws look for the best parcels.
As companies scout for they also face financing issuezs and none of the proposed projects in Arizona hasbroken Arizona’s main solar corridofr includes Vermaland’s parcels, an area that stretches from Yuma to Phoenis and Tucson seen as a huge growty area for developing utility-scale solar poweer plants.