A new economic development project is set to take flight in Chester County.
On Monday, Chester County Council approved third and final reading for a fee-in-lieu-of-tax agreement for the company behind the code name “Project Sparrow.”
“Since this is third reading, can we reveal the company now?” asked County Councilman Alex Oliphant.
The company was prepared to announce its arrival, but not in person. Plans to be present for Monday’s meeting for a formal introduction were scuttled by concerns over travel related to the coronavirus pandemic, but a letter was read from representatives of NARENCO (which stands for “National Renewable Energy Corporation”) to the council.
The company, founded in 2009, is “focused on developing, building and operating utility-scale solar installations” according to its website.
“Our position as the top solar company in the region is a result of our fiscal discipline and consistent revenue growth…we’ve been able to generate enough power to serve over 45,000 homes,” the company site says.
The planned site in Chester County will come with an estimated $2.8 million investment, with plans to build just outside the Fort Lawn town limits. The letter read to the council indicates the company has built 30 solar farms and maintains 20 others. The company focuses on “giving back through volunteer work” and other philanthropic undertakings. There was not an estimate on jobs expected to be created aside from noting that there would obviously be construction jobs associated with building the solar facility. It was also noted that the plot of land on which they will build currently produces $78-a-year in property taxes, a number that will increase to $7,400 annually.
Third reading on the fee-in-lieu-of-tax agreement passed unanimously.
By Travis Jenkins, Staff Reporter with The News & Reporter
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