Fotowatio, Air Force Sign Development Deal For Up To 500 MW

The Air Force Real Property Agency and Fotowatio Renewable Ventures (FRV) have partnered to execute a lease agreement that sets the stage for development of a solar photovoltaic development project with an estimated capacity of up to 500 MW.

The agreement grants FRV exclusive access to the proposed development site in order to conduct necessary environmental and transmission studies. It also gives the company the first option to lease the parcel upon successful completion of the studies and associated permitting activities. The agreement covers a 3,288-acre parcel of land.

Lease execution will likely occur in late 2012, with commencement of construction targeted for 2013, according to FRV and The Air Force Real Property Agency.

SOURCE: Fotowatio Renewable Ventures

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