Kutak Rock is Special Counsel on Coronal Energy Lease TransactionsNews | August 25, 2017
Kutak Rock attorneys Hans Ipson, Jeremy Johnson, Seth Kirshenberg and Neo Tran served as special counsel on three lease transactions for Coronal Energy™, developer on the 120 MWac Gulf Coast Solar Center project in northwest Florida.
Coronal Energy, Panasonic, Gulf Power, and the U.S. Navy and Air Force combined on the project, which comprises utility-scale solar photovoltaic systems at three Navy and Air Force sites and represents the largest combined portfolio of solar facilities on Department of Defense property to date.
Combined, the three facilities have the potential to reduce carbon dioxide emissions by more than 3.5 million tons over 25 years. This figure equates to removing nearly 670,700 cars from the road for one year.
“Considering the scale of the Gulf Coast Solar Center portfolio, collaboration between our team and the like-minded teams at the U.S. Air Force, U.S. Navy, and Gulf Power has been an essential element of our success in developing these projects,” said Jonathan Jaffrey, chairman and CEO of Coronal Energy.
The solar facility at NAS Pensacola’s NOLF Saufley features nearly 600,000 solar photovoltaic modules that will generate enough energy to power approximately 7,400 homes in northwest Florida annually. The portfolio also includes 40 MWac and 30 MWac facilities at NAS Whiting Field’s NOLF Holley and the Eglin Air Force Base Reservation spanning 336 and 240 acres, respectively. In total the nearly 1.5 million solar panels generate enough energy to power more than 18,000 local homes each year across Escambia, Santa Rosa, and Okaloosa counties in Florida.