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NextEra closes sale/leaseback deal for 120-MW Ga. solar project

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NextEra closes sale/leaseback deal for 120-MW Ga. solar project

NextEra Energy Inc. completed the transfer of ownership of the planned 120-MW Dougherty County Solar Facility in Georgia to Albany-Dougherty Payroll Development Authority.

The local government agency will issue taxable industrial development revenue bonds to acquire and develop the project.

Under a lease agreement and a separate option agreement, the solar project will be leased back to NextEra, which will also have the option to re-acquire it.

The solar plant's output will be sold to Southern Co. subsidiary Georgia Power Co. under a 30-year agreement.

The Federal Energy Regulatory Commission signed off on the transaction Dec. 5. (FERC docket EC20-7)