AVEK Enters Purchase Option Agreement

9/10/2012

AVEK ENTERS PURCHASE OPTION AGREEMENT PALMDALE – The Antelope Valley-East Kern Water Agency announced today the sale of a purchase option on approximately 1,400 acres to SunPower Corporation of Richmond California. The property is located in Kern County near 90th and Gaskell and was originally purchased by the Agency to supplement its water banking efforts in the Antelope Valley. The land is considered prime habitat for the Swainson’s Hawk, an endangered species that is active in that area. The purchase option gives SunPower a year to decide if it will buy the property. If the option is exercised the Agency has agreed to sell all but 20 acres for more than the Agency paid in 2007. At this point it is SunPower’s intention to use the property as mitigation for a large solar project proposed for the western Antelope Valley.

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