A 450-acre plot in Maricopa County, Ariz., will be the site of a 68 MW solar power project, said Vasari Energy, Inc.
Vasari signed a contract Thursday to purchase the land, which is expected to cost about $13.6 million.
The solar project will be developed through its subsidiary Sonoran Solar Development Partners LLC with construction expected to start in October 2019. The project could be delivering power by October of 2020, Vasari said.
The Vasari subsidiary will develop the project and either sell it or construct and operate the project as an economic investment.
“Our development team consists of some of the best environmental experts, transmission engineers, and permitting specialists in the industry to allow us to obtain all approvals as quickly as possible,” said Sam Lipman, vice president of Vasari. “This project will allow Vasari Energy to get closer to its object of $500 million of solar projects under development in 2017.”
The company’s current pipeline of solar energy projects has an estimated power potential of 200 MW in California, Arizona, Nevada, and Texas. The build-out value is about $280 million. Vasari said it hopes to reach an operating capacity of 700 MW by the end of 2020.
Vasari is headquartered in Irvine, Calif.
