Did you know Halderman Farm Management has experience with renewable energy leases such as solar and wind? We manage numerous farms in multiple states that have wind turbines in operation on them and are in the process of working with newer solar development. As a result we are familiar with the more common lease terms and lease agreements as well as the option prices, damage clauses and lease termination remediation.
Wind energy and solar power are not new developments, but their extension into the rural areas where we manage farms is still relatively new. You are approached by a renewable energy company from out of state. It seems as though their offer is reasonable and appealing. How can you confirm that their option price is fair, that the damage payments will provide enough compensation for you and your farm tenant and is your share of the royalties, if production occurs, within the fair market range? Maybe your farm is adjacent to one with a wind turbine. Are there any payments for you? Some firms compensate landowners in the overall development area, even if they don’t have a turbine. Finally what happens to the end of the lease term and how is your farm returned to its current state is a very important term of the lease.
Working with someone like Halderman who works with multiple leases and renewable companies will offer many benefits. We can at least confirm or deny the offer as being reasonable and fair as well as potentially provide feedback on the company itself. We represent your interests and have access to legal expertise familiar with renewable energy agreements. Give us a call to learn more about what we can offer.
If you are interested in having us help you with your farmland investment, please contact your local Halderman representative to learn more or call us at 800-424-2324. We will connect you with the most appropriate representative.