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IPL exploring buyout, alternatives for community solar farms after seven-year contract window
Summary
IPL staff told the board they are investigating options to buy the community solar farms that Gardner Capital/MC Power currently owns, but staff said buyout would require mutual agreement, an agreed independent assessor, and careful consideration of bonding capacity given other possible generation investments.
IPL staff reported the city is exploring whether to request a contract buyout for community solar farms that the city currently purchases from a private owner.
Staff said the solar contracts were signed circa 2015 and include a seven-year option that allows the buyer to request a sale if both parties agree; the buyer would pay for an outside assessor to determine value. Staff said they have opened preliminary conversations with Gardner Capital (the owner identified in the packet as MC Power’s owner) and are also vetting…
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