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Council approves 20-year PILOT for 5 MW solar project at Cap Landfill
Summary
Concord approved a payment-in-lieu-of-taxes agreement with Kearsarge Old Turnpike Road LLC to install a roughly 5 MW, ground-mounted solar array on approximately 23.36 acres of the Cap Landfill; the agreement anticipates about $3 million in payments over 20 years plus annual net-metering revenues.
The Concord City Council on Sept. 8 approved a payment-in-lieu-of-taxes agreement with Kearsarge Old Turnpike Road LLC to host a roughly 5-megawatt solar installation on approximately 23.36 acres of the 52.9-acre Cap Landfill at 75 Old Turnpike Drive.
City Manager Tom Walsh described the project scope and financial terms: construction is expected to begin this month and conclude by year-end; the proposal includes approximately $3 million in payments over 20 years (a mix of lease and pilot payments) and additional annual payments tied to net-metering revenues, which will vary with energy production. “The annual payments to the city are proposed to be a flat fee of $98,729 unless adjusted due to changes in the project,” Walsh said.
Walsh noted RSA 72:74 authorizes municipalities to enter into PILOT agreements with renewable generation facilities and that the final payment agreement must be reviewed and approved by the council after negotiation. The council approved the resolution authorizing the city manager to execute the PILOT agreement on the city’s behalf.
