Preparation of bankable land agreements
EMP has developed a full set of investment-grade, plain-English land agreements, variants of which have already been used in funded projects. These include pro formas for (as necessary):
- solar / wind option
- solar / wind lease
- access (including over-sail) licenses
- set-back waiver
EMP has years of experience of preparing these to a bankable standard for banked, operational renewable projects, in Ireland and elsewhere. There is no requirement for an initial term sheet / heads of terms – the main points of the lease will be annexed to the option. While it is possible to prepare a ‘one-stop’ document which converts to a lease automatically on the occurrence of relevant events, EMP’s experience is that Irish landowners are more comfortable with an initial option and subsequent lease.