Project Profile: Honeysuckle Solar Project, St. Joseph County, Indiana

Olive Township, St. Joseph County, Indiana

St. Joseph County, Indiana & Lightsource BP

Asset Recycling, Right-of-Way Use Agreements, Solar Energy Use,
Tax Increment Financing District

Energy-Solar Farm

The $164 million solar farm nicknamed “Project Honeysuckle” is on a 1,900-acre plot of farmland near U.S. 20 and Spruce, Tamarack and Darden roads, just east of New Carlisle. The Lightsource BP, a multinational developer of solar projects, has proposed the $165 million project, which would equip a site near the St. Joseph County town of New Carlisle with 407,000 solar panels. The solar farm would produce about 150 megawatts of electricity per year, or enough to power more than 25,000 homes.

The project would lease land from nine property owners, and that Lightsource has 30-year lease agreements and options to extend those an additional 20 years. Lightsource BP will finance, build, own, operate and maintain the solar projects with private capital. The project is not being funded by Indiana residents.

To make the project economically feasible, the county plans to create a tax increment financing district, or TIF, that would allow it to provide financial incentives to the developers. The project is also expected to generate tens of millions in new tax dollars for the area.

During the operational life of the project, Lightsource BP will have an annual operations budget to maintain the facility and the land. As a long-term owner and operator of the project, Lightsource BP has a significant financial interest to maintain maximum energy production, which involves keeping the vegetation tidy to keep it from interfering with the trackers or shading the panels. It also includes an agreement to use the land in between solar panels for pollinator gardens which help bees.

$165 million

• $165 million - privately funded approximately $165 million

Build, Own, and Operate

• Lightsource BP Finance, Build, Own, Operate, and Maintain the Honey Suckle Solar Farm
• South Bend-based Inovateus Solar will serve as general contractor on the project.

N/A

TBD

• Site Selection & Preliminary Design
• Stakeholder Outreach
• Environmental Studies

The project is expected to take between 12 and 18 months to complete.

Private Funds

• Help strengthen rural economies by creating local jobs, contributing significant annual revenue for local governments, providing dependable revenue to landowners in order to supplement farm income, and bringing multimillion dollar annual operations budgets that are primarily spent in the region.
• Produce clean energy, creates jobs and generates taxes. Positive Short-Term Economic Impact from construction jobs and Long-Term Economic Impact from property tax revenue. Longer life of Economic Development Authority (25 Years) helps to create more certainty in financial models.
• Allow for soil regeneration of farmlands without permanent impact. Promotes biodiversity through pollinator friendly plantings.
• Reduce water use from farming while increasing water permeability that helps replenish aquifer
• Increase revenue stream for property owners due to lease structure
• Provide educational benefits with local school systems and universities including research opportunities related to sustainability
• EDA/TIF Creation satisfies the “But For” test for project. Attracted a very large taxpayer in the area that doesn't require public resources like new roads, or new water, sewer or any type of extra police or fire protection.

• St. Joseph County
• Lightsource BP
• Frequent Ask Questions,
• Project Honeysuckle
• Project Honeysuckle Planning Calendar

Bill Schalliol, Economic Development Executive Director
St Joseph County
bschalliol@sjcindiana.com
(574) 235-9812

Chris Brown, Economic Development Specialist
St Joseph County
cmbrown@sjcindiana.com
(574) 235-7840

Darrin Jacobs, development manager for Lightsource BP.