Madison County tax abatement rejection threatens solar farm project

A general view shows solar panels of the biggest photovoltaic power station of France in Toul-Rosieres on November 13, 2012 in Rosieres-en-Haye. This giant plant spreads on 360 acres of a former NATO military base, far from any habitation, with approximately 1.4 million photovoltaic panels. AFP PHOTO / JEAN-CHRISTOPHE VERHAEGEN (Photo credit should read JEAN-CHRISTOPHE VERHAEGEN/AFP/Getty Images)

ANDERSON, Ind. (AP) — Officials in a central Indiana county have rejected a tax abatement for a proposed solar farm, putting the $110 million project in jeopardy.

The Madison County Council voted 4-3 on Tuesday to deny the Lone Oak Solar Energy Center’s request for a traditional 10-year tax abatement.

The proposed solar farm in northern Madison County would generate 120 megawatts of electricity, but officials with developer Invenergy say that not obtaining the tax abatement could make the project financially impossible.

The Herald Bulletin reports that company officials say the tax abatement would have saved the company $5 million in personal property taxes over the 10 years.

Project manager Katya Samoteskul told council members it also would have reduced the cost of the electricity to a potential buyer of the solar farm’s power.

___

Information from: The Herald Bulletin, http://www.theheraldbulletin.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.