Commission adopts ordinance authorizing IRBs for AC Solar Ranch project
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Summary
The board adopted Ordinance No. 104 to authorize up to $85.2 million in industrial revenue bonds for the AC Solar Ranch; the agreement includes an annual payment‑in‑lieu of taxes of at least $359,240.47 starting by year three.
The Lea County Commission voted Oct. 23 to adopt Ordinance No. 104 authorizing issuance of industrial revenue bonds of up to $85,215,000 to support the AC Solar Ranch Project Series 2025.
Representatives of Lydian Energy and project partners said early mobilization is underway and that major construction contracts (modules, racking, steel) are in place. "It's gonna be about a 100 megawatt project," a company representative said. Company leaders told the commission the active site will cover about 420 acres, and they expect construction to proceed to completion in 2026 once final state permits are obtained.
Under the approved lease and PIL agreement, the county would receive an annual payment in lieu of taxes of no less than $359,240.47 beginning no later than the third year of the IRB. County staff explained the PIL receipts can be shared, by statutory formula, with school districts; the ordinance does not create a direct county obligation for debt service.
The commission moved, seconded and voted to adopt the ordinance during the public hearing following sworn testimony from project representatives. Supporters emphasized local jobs, contractor commitments and energy reliability; no formal opposition was recorded at the hearing.
What happens next: County staff will finalize and sign ordinance documents and the parties will continue to coordinate state permit approvals and project mobilization.
