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A representative of San Rafael Energy Park LLC bid $6.9M during a June 25 auction for the lease rights to develop a solar generating facility on 1,060 acres of state-owned land in the Sierra Vista city limits. The company was the lone bidder.
Tracy Clark of the Arizona State Land Department conducted the auction outside the Cochise County Superior Court in Bisbee. With only one qualified bidder the event took less than three minutes.
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A representative of San Rafael Energy Park LLC bid $6.9M during a June 25 auction for the lease rights to develop a solar generating facility on 1,060 acres of state-owned land in the Sierra Vista city limits. The company was the lone bidder.
Tracy Clark of the Arizona State Land Department conducted the auction outside the Cochise County Superior Court in Bisbee. With only one qualified bidder the event took less than three minutes.
QUICK TAKEAWAYS:
San Rafael Energy Park LLC was the sole qualified bidder and secured the lease of state-owned land with a minimum bid of $6.9M.
The auction was postponed for several weeks due to concerns of county supervisors about property tax revenue losses from leasing rather than selling the land.
The 1,060-acre site will strictly be used to develop a photovoltaic solar generating facility with battery energy storage.
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