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Maples Road Solar developer asks Lee County to accept letter of credit instead of cash for decommissioning
Summary
Standard Solar requested the county accept an alternative surety (letter of credit or bond) for decommissioning funds for the Maples Road Solar Project; the committee voted to forward the petition asking for alternative financial security to the executive committee.
Representatives for a planned solar project asked Lee County to accept a financial instrument instead of cash escrow to secure decommissioning costs for the Maples Road Solar Project.
Kayla Flood of Standard Solar told the committee the company seeks to provide a surety bond, decommissioning bond or a letter of credit in lieu of a cash escrow equal to 125% of the county-approved cost estimate. “We are either requesting a surety bond, decommissioning…
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