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FERC allows NextEra to sell, lease back Ga. solar project

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Essential Energy Insights - January 2021


FERC allows NextEra to sell, lease back Ga. solar project

The Federal Energy Regulatory Commission signed off on NextEra Energy Inc.'s application to transfer ownership of the planned 120-MW Dougherty County Solar Facility in Georgia to a local government agency.

The Albany-Dougherty Payroll Development Authority agreed to 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. (FERC docket EC20-7)