Boulder City, Nevada grants 40-year lease for the development of 150-MW solar facility

NextLight is a developer of utility-scale solar projects in the western US. It was selected for the lease negotiations by Boulder City, Nevada.

In Boulder City, Nevada, the development of a 150-megawatt solar facility using photovoltaic technology was given a boost after a 40-year lease on the property where the project would be built was approved by the city council last week (June 9). A 1,110-acre municipal property within the city’s Energy Zone was the subject of the lease, with NextLight Renewable Power LLC as lessee.

Under the lease, NextLight will pay $2,200 per acre and may request for an extension of the lease for 10 to 20 years more. Construction of the project is expected to begin next year while full commercial operation is targeted for 2012.

Two of the largest US commercial solar generating facilities are located in the Boulder City Energy Zone. NextLight, through a solicitation conducted by the city last year, was selected for the lease negotiations.

“NextLight is very pleased to enter this lease with the City of Boulder City. Boulder City is the
premiere location in the Western US to site a solar generating facility because of the great solar resource, access to transmission and multiple potential buyers, and the City’s streamlined permitting procedures,” said NextLight’s Vice President of Regulatory and Government Affairs, Jim Woodruff.

NextLight is a developer of utility-scale solar projects in the western US. It was formed by the private equity firm Energy Capital Partners (ECP). A $2.25-billion private equity fund is being managed by ECP for investment into energy projects in North America. NextLight has its headquarters in San Francisco, California.


-  Jen Balboa

Sources:

¹ http://www.nextlight.com/docs/Boulder_City_approves.pdf
² http://www.nextlight.com/