Mark Neason of Stags Professional Services department discusses the increasingly popular diversification option of solar panel sites.
There is a definite resurgence of interest in large scale photovoltaic (PV) electrical generation in the South West. Several of our clients have been approached by developers who are putting together big sites capable of producing up to five megawatts of power. This typically requires at least 140 acres of land and will involve more than one farmer in the project.
I am currently acting for several groups of farmers who have been approached by PV developers on the basis that they will rent land for a 30-40 year term for the production and possibly storage of electricity. The rents on offer are much higher than agricultural rents and represent a good opportunity for landowners looking to diversify their income.
My job is to negotiate the best terms for the landowners who will assume the role of landlord. Apart from the rent, I negotiate items such as option fees, additional rent for access arrangements, payments for wayleaves so that the solar farm can connect to the grid and extra rent if battery storage is to be part of the scheme. As with any other form of negotiation, there is always an opportunity to enhance the original terms offered.
Together with Albert Goodman accountants and Stephen Scown solicitors, Mark will be hosting an informative seminar for landowners who may have been approached by PV developers at lunchtime on Wednesday 6 November in Exeter. If you would like to attend this seminar or speak with Mark Neason about any issues relating to solar PV please respond to Stags Professional Services.
