As the renewable energy industry grows so do the creative ways in which developers partner with landowners of all types. One such partnership is with local governments across the country who has leased capped landfills to solar project developers. These so called “brownfields” are ideal when repurposed for solar farms. The cities of Beverly (MA), Derry (NH), and Urbana (IL) are just a few of the examples of municipalities that have developed ambitious clean energy projects by capping and grassing over, their retired landfills, subsequently leasing the property to solar energy companies. These solar leases then put long term rent payments into the city coffers. There is one more shrewd move that local leaders can make once these solar leases are finalized and that is to partner with Madison Street Energy to further unlock the value of their solar projects and long-term lease payments.
MSE works with city officials who have entered long term leases for renewable energy projects, in consideration for an agreed upon lease compensation. MSE provides these governmental entities with the option to convert these streams of smaller installment payments into one large upfront cash payment. These funds can them be redeployed for operating costs, or to fund large long term capital improvements, or allocated for other uses with greater value than the expected scheduled lease payments to come in future years. This program ensures good stewardship as there is no change in control or ownership of the real estate and MSE assumes all risk if solar developer defaults on any payments in the future.