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

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million, with a third deal potentially inthe works. Buyerxs of the small parcels werenot identified, but Kuldilp Verma, president and CEO of , whichh sold the land, said the buyers had interesy in developing the land's solar potential. Vermalande also is looking at sellinga 3,600-acre parce at auction within the next six months in the county’ s western reaches. While the first auction focuse on fivesmaller parcels, a contiguous site such as Vermaland’s coul d draw a higher premium, if companie believe it has accese to water and power lines.
“Several large-scale utilitg companies have expressed interes in the property once the site is said Verma, who added the site has watef rights, on-site wells and a low While the company was able to sell the two prices were below what neighboring land has been selling for. The goal was to spur solard companies to purchase land rather than simply tieit up, Vermwa said. The properties sold at Saturday’s auction includex an 80-acre site in the Tonopahb areafor $340,000 and a 320-acred site in Tonopah for $2.24 million. The company did not identif y which of the remaininvg three properties might be involvex inanother deal.
“The auction brought the propertied to the attention of some parties that we had nevert been incontact with, as well as remindede others we had spoken with in the past of the which is highly suitable for solar development,” said Anitz Verma-Lallian, the company’s marketing director. Vermaland alreadgy had sold land toseveral California-based utilities looking to developo renewable resources to meet that state’e standards for clean energy.
Solar energy developers have been placin applications on state and federal lands in western Arizon for the pastthree years, and private land ownerw have been negotiating as developers look for the best As companies scout for land, they also face financing issues and none of the proposed projects in Arizona has brokenj ground. Arizona’s main solar corridor includes Vermaland’s an area that stretches from Yuma to Phoenix and Tucsonj seen as a huge growthb area fordeveloping utility-scalew solar power plants.