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FALL RIVER – The Fall River Redevelopment Authority has voted to sell two parcels of land to a renewable energy developer for a 4-megawatt solar energy farm.
The five-member authority voted unanimously Wednesday, with one member absent, to sell the 12- and 4-acre parcels for $3.2 million, said Michele Paul, project developer for the Fall River Office of Economic Development.
“It just made sense,” she said. “The land is less marketable than most land in the area because it’s next to a landfill and because of the configuration.”
Newton, Mass.-based SunGen Mark Andover LLC works with real estate developers in North America to design, construct and underwrite renewable energy projects.
The company approached the authority in June about the area, Paul said. The negotiations center around the final configuration of the land, which will contain 3-foot-by-5-foot panels.
The vote doesn’t mean the deal is done, it just means the authority will move forward with continuing the negotiations, Paul said.
The only downside as of now is that the project would not create many, if any new jobs, she said. But the city would save money off the deal, she said. National Grid would purchase the electricity and the city would use it for school and government buildings at significant savings.
The hope is to have the deal finalized by the end of the year, Paul said.