The promoter of a solar energy-themed land auction held Saturday said two of the five available raw land parcels south of the Valley sold for a total of $2.6 million.
Phoenix-based land bank Vermaland marketed the properties as being ideal for solar energy production farms, where vast arrays of solar panels are connected to the power grid.
The plots of land are flat, near power and water sources and rate high on the National Renewable Energy Laboratory solar resource map, the company said, which means the sun’s radiation on those areas is particularly strong.
The first property, 80 acres in the Tonopah-Harquahala area south of Phoenix, sold for $340,000, or $4,250 per acre, Vermaland said in a news release.
In addition, a 320-acre parcel in Tonopah sold for $2.24 million, or $7,100 per acre.
Price negotiation on a third property is under way and may be sold, the company said.
Vermaland had placed a total of more than 1,900 acres up for auction, of which 400 acres sold.
The winning bids were far lower than the advertised prices of $15,000 to $20,000 per acre for similar properties on Vermaland’s Web site.
The land bank said it would not disclose buyers’ names until the sales closed escrow, which should happen in the next 30 days. There is no requirement that the land be used for solar energy production.
J. Craig Anderson
The Arizona Republic
Source : http://archive.azcentral.com/realestate/articles/0609biz-solarauction0610.html
Reach the reporter at 602-444-8681 or craig.anderson@arizonarepublic.com.
