02 December 2016
Solar farms: the pitfalls that landowners need to be aware of
An increasing number of landowners are seeking to maximise the profitability of their sites by lending them to solar developers.
But what can be a lucrative option can also bring risks and difficulties if not managed properly.
Dawn Carlisle, partner and member of the Shulmans commercial property team, which is one of the strongest in the UK, explains the pitfalls they need to be aware of in an article published by Farmers Guardian.
In a nutshell, Dawn stresses the following points:
- The solar market changes frequently, so it is important to get expert advice from a specialist land agent on the best deal possible, an accountant on the tax issues, and a solicitor on the legal and costs implications of the transaction;
- Landowners need to retain control when signing an option agreement with a solar developer, so that they can be kept informed and/or terminate the option if they wish;
- It is crucial to establish a good partnership with a trustworthy solar developer – again, a specialist adviser will be able to assist in that regard;
- Landowners need to ensure that they obtain the financial security they might need to guarantee the removal of the solar equipment when necessary.
If you are a landowner seeking to maximise the revenue of your site, and need further information about your options, please contact Dawn Carlisle on 0113 297 8957 or at email@example.com.