Crescent Communities, a diversified real estate investment, development and operating company based in Charlotte, N.C., says it has identified ‘significant acreage’ in its 50,000-acre land management portfolio for development as solar energy farms.
‘As a former subsidiary of Duke Energy, our land portfolio includes considerable holdings that were originally acquired by Duke in support of power generation and transmission, including three-phase power, transmission lines and substations,’ explains Will Yeager, a project manager at Crescent.
‘These sites are ideal for solar farms because they are very large land tracts with immediate proximity to the power grid, which helps to reduce costs and increase efficiency,’ he adds.
In addition to identifying potential solar energy sites, Crescent has identified potential solar development partners that would lease or buy the sites from Crescent and build and operate the solar farms. Detailed planning is currently taking place at a number of sites, the company says.