Batavia Solar, LLC recently proposed to provide a $3.5 million community solar investment for a new 1.65-megawatt farm in Batavia, NY. The proposal was received during Thursday’s Genesee County Economic Development Center (GCEDC) board meeting. Batavia broke down the proposal into increments of $5,500 per megawatt. There would be a 2% escalation per year over 15 years contingent on GCEDC approval of incentives requested by the solar company.
The community solar investment proposal from Batavia Solar would increase the revenues of Genesee County municipalities by $3 million for 15 years, or $200,000 each year. From that $3 million, the county is planning on pulling $2 million to go towards the needs of local school districts. The construction and operation of the new solar farm would also generate employment opportunities for Batavia residents and generate funding for the local economic development programming fund.
For its investment, Batavia Solar, LLC is requesting nearly $500,000 in mortgage, property, and sales taxes. Based on current property taxes, when the project goes live, it’s projected to generate a $42.35:$1 rate of return.
According to county regulations, since the proposal is over $100,000, it will need to be brought in front of the public. If there are no objections, Batavia’s requested incentives will then go up for a vote. Should they be approved, the projects will be one step closer to undergoing construction.
If this proposal goes through and the 1.65-megawatt farm is constructed, it would be the 7th solar project approved by the GCEDC. In 2020, the county board also approved 5-megawatt, 3-megawatt, and 4-megawatt community solar farms with Borrego Solar. It also allowed a 4-megawatt project from Bright Oak Solar, constructed in the town of Batavia.
The most recent Batavia Solar project in the town of Batavia reached a project close date of May 22, 2020.