Annapolis Firm Plans New Solar Project in Chautauqua County

Hodgson Russ is providing legal counsel to New Energy Equity, a Maryland-based solar developer, on a $3.7 million community solar project in the Town of Poland, Chautauqua County.

The developer is seeking a 25-year PILOT agreement from the Chautauqua County IDA, set at $4,000 per megawatt with a 2% annual increase. Due to depreciation, the PILOT may cost more than standard taxation by year 12, totaling an additional $24,000 over the full term.

Henry Zomerfeld emphasized the value of predictability concerning the PILOT sought as compared to the fluctuating taxes for the project:

“We could be going through this every couple of years. Bottom line, this certainty through the PILOT is what the real benefit is, money and dollars aside.”

Brandon Cottrell is assisting the client with the IDA transaction.