The CDC owns 11 acres of land that it intended to use to build an affordable subdivision until the housing market crashed. Brick Capital plans to lease the land to Community Energy to develop a $7 million solar farm that would generate 2 megawatts of clean energy – more than is generated by 200 rooftop solar arrays.
The lease agreement would generate revenue for Brick Capital for 25 years, which could be used to support its community economic development efforts and increase the organization’s sustainability.
“It’s an exciting thing to bring to Lee County,” said Kate Rumely, executive director of Brick Capital. “There aren’t many counties [in North Carolina] that have solar farms. There aren’t many community development corporations that do.”
If the project is successful, Rumely believes there is potential for it to be replicated in other parts of the state where CDCs own vacant property that could be leased to Community Energy for solar farms.
The clean electricity generated by the solar farm would be sold into the Progress Energy electrical grid for distribution. Brick Capital hopes to partner with Central Carolina Community College, which offers courses in green technology, to find local workers for the installation of the solar farm.
For more information on the project, contact Rumely at (919) 775-2300.