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)