National experience, local representation: Prospect14’s team have a local focus in our projects’ communities and national solar development experience.
We are actively looking to partner with landowners who are interested in realizing income on their land from solar power project development. Read below to learn more about how Prospect14 can work with you, the landowner, to make that happen.
Both. Depending on landowner interest, Prospect14 has the ability and resources to purchase property or enter into a long-term lease.
For either a purchase or lease approach, the process starts with an Option Agreement covering the 2-3 year project development/design/permitting phase and Prospect14’s early capital investment period.
An Option Agreement term (the “Option period”) is typically two years with a one-year extension. This covers the initial project and early stage investment development period. Lease terms are 25 years with two 10-year extensions.
Yes. During the Option period the landowner maintains full control and use of their property, with access granted to Prospect14 for site testing/diligence/survey as required, with notice to owner.
Yes. Prospect14 will work with landowners to define project boundaries, minimize impacts, and preserve residential, commercial or other site areas.
Above-market lease rates. Prospect14 is able to secure long-term leases above current-use market rates, in exchange for an Option Agreement to support the 1-2 year development period.
Significant. During option period Prospect14 will spend up to $300,000 to entitle the site for a solar project, and work to secure power contracts and all local, state, utility, engineering and federal approvals.
Minimal. Prospect14 will manage all project elements in coordination with you. This will require occasional, coordinated access for site development activities. The landowner assumes no project liability.
Restored. Solar construction methods are minimally invasive, allowing sites and sub-surface conditions to be fully restored at end of term. This provides a long-term land preservation/holding vehicle.
Minimal. Solar is an ideal neighbor, with primarily passive technology that does not create emissions or significant noise, or require frequent maintenance. This mitigates potential impact in neighboring properties and is fully compatible with agricultural activities.