Embarking on Solar, Wind or hydro power developments can be a long term lucrative opportunity and one which, with the reduction in government grant funding for farm subsidies, may offer an often substantial, alternative annual income stream to keep your farm, farming.
In 2019 alone, we negotiated the fundamentals for Option Agreements and Lease agreements for over 600acres in Dorset and Somerset. We consider it is important to present a client with more than one choice of Developer to undertake the renewables project, to ensure that the parties can trust each other and work towards a mutually beneficial goal. Afterall, this is a long-term relationship which needs to be given careful consideration as to how it will affect your ongoing farming operations; what the tax implications are in respect of income - as well as inheritance tax, the planning considerations, and identification of the suitable land.
If you are considering turning some land over to a renewables project, Symonds & Sampson would be pleased to meet with you and review the potential of your property.