Payments made through 2027 are considered to be prepayments for solar project, with payments after said to be around $1.7 million annually for the county.
Mammoth Solar recently announced it would be initiating $375,200 to Pulaski County for economic development payments this year. An additional payment of $60,200 will be distributed to the county in the following months, with another $315,000 before the end of 2024. Payments are being made in advance of any tax revenue from the project, ensuring early benefits for Pulaski County.
Pulaski County Community Development Commission Executive Director Nathan Origer said the payments are a small fee compared to what is owed to the county. Origer said all payments made by Mammoth Solar until 2027 are considered to be prepayments for the solar project that will be a part of the largest solar farm in the U.S. After 2027, annual payments are said to be around $1.7 million annually for the county.
Origer said county officials remain cautiously hopeful for the future about the solar projects. He believes the solar project represents a great step forward in economic diversification for the small community to grow in the long run.
“We've worked so hard to get where we are, and Pulaski County is in a better place financially than it has been for the past 15 years,“ Origer said.
Mammoth Solar's project is set to be one of the largest solar farms in the U.S. The company stated the project is designed to not only generate clean energy, but also bring long-term economic benefits to the region.
A press release by Mammoth Solar stated the company underscores its commitment to bolstering the local economy and supporting critical public services and community programs. The company said the financial commitment is intended to provide immediate benefits to the county, ensuring positive impacts to the community are felt even before the first solar panel is installed.
“We are committed to maintaining a strong and lasting partnership with Pulaski County throughout the lifecycle of the Mammoth Solar project. This includes ongoing collaboration with local leaders to ensure that the project continues to meet the needs and expectations of the community,” said Ed Baptista, vice president of Development and Agrivoltaics at Doral Renewables, the company behind the project.
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