Land banking and development company Vermaland has leased more than 4,500 acres of land to solar developers in recent months. The activity illustrates a recent surge in demand for solar land in Arizona. In eventual land purchases, these leases could total $40 million.

“There are a lot of factors driving demand for solar right now. There is a huge push for utilities to be obtain energy from renewable sources and solar is a great source,” Kuldip Verma, founder and CEO of Vermaland, tells “California has mandated that 50% of their electricity come from renewable sources by 2025 and Arizona has mandated that 15% come from renewable sources by 2025. The location of our properties serve both the California and Arizona market, so solar developers have several viable options to sell the energy they generate to. Furthermore, the prices of producing solar energy have come down significantly over the years making it a low cost alternative for energy.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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