NEW CARLISLE, Ind. (AP) — A developer wants to build a 1,100-acre solar farm in northern Indiana that would generate enough electricity to power 25,000 homes.
Lightsource BP, a multinational developer of solar projects, has proposed the $165 million project, which would equip a site near the St. Joseph County town of New Carlisle with 407,000 solar panels.
The solar farm would produce about 150 megawatts of electricity per year, or enough to power more than 25,000 homes, the South Bend Tribune reported.
Lightsource officials told members of the St. Joseph County Council on March 22 that the project would lease land from nine property owners, and that Lightsource has 30-year lease agreements and options to extend those an additional 20 years.
The county council must approve needed agreements in the coming months to get the project going toward a late 2023 or early 2024 completion.
To make the project economically feasible, the county plans to create a tax increment financing district, or TIF, that would allow it to provide financial incentives to the developers. The project is also expected to generate tens of millions in new tax dollars for the area.
Chris Brown, an economic development specialist for the county, said April 12 is the soonest the county council could vote on a development agreement with Lightsource BP. He said it could then act on creation of the TIF in June.