Alligator Creek Solar Project on Its Way
Wheeler County officials have signed a memorandum of understanding with Heelstone Renewal Energy to establish a solar farm on a 600-acre site off U.S. Highway 280 in Wheeler County.
The Alligator Creek Solar project, to be located between Erick Road and Highway 280, involves the design, construction, and equipping of a solar, photovaltaic electrical generating system having an estimated production capacity of approximately 80 MW. The project will include installation and use of photovoltaic panels, racking systems, inverters, breakers, switches, cabling power transformers, an electric substation and generator tie-in, and related equipment.
According to the agreement, “neither the project nor the personal property shall include the continued from page
land upon which the project is installed.” The real property on which the farm is to be located is owned by an LLC.
Wheeler County Attorney Perry Avery said the project is being “sold” by the company to the Development Authority, which shall then lease back the project to the company in a “bond lease” arrangement. With respect to personal property, the company will receive an ad valorem property tax abatement over a 17-year term. In lieu of taxes the company will make an annual payment to the County.
The Wheeler County Development Authority and Wheeler County Commission signed the agreement last week. With the closing of the bond issuance, which will protect the county’s interests, the project is expected to commence on or before December 31, 2025.
Proceeds from the project are expected to earn the county almost $4.5 million in the next 17 years, benefiting both the County and School District coffers.
Heelstone Renewable Energy, LLC is a leading solar and storage independent power producer with expertise in development, construction, and operation. Based in Durham, North Carolina, Heelstone has extensive knowledge of project finance and a proven track record from over a decade in bringing utilityscale solar projects to fruition. Heelstone continues to add to its development pipeline and operating portfolio as it expands its presence in markets across the United States.
