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Commission approves industrial revenue bonds for two solar-and-storage projects
Summary
San Juan County approved industrial revenue bond ordinances for four related renewable-energy projects — two solar-generation and two battery-storage facilities — developed by affiliates of DE Shaw Renewable Investments.
The San Juan County Commission approved ordinances authorizing industrial revenue bond (IRB) structures for four related renewable-energy projects — two solar-generation projects and two battery-storage projects — to be developed by affiliates of DE Shaw Renewable Investments.
Attorney Peter Kelton, representing the county for the transactions, explained IRBs are an economic development device that allow exemptions from gross receipts, compensating and property taxes by having the county hold title and lease the project assets back to the developer; the developer pays payments in…
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