Staunton River Regional Industrial Facility Authority Agenda December 2025
Authority approves $7.48M Pivot Energy solar lease buyout
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Description
The Staunton River Regional Industrial Facility Authority approved Resolution 2025-12-08-5A to enter into settlement agreements with Pivot Energy for early termination of three solar leases in the Town of Hurt. The Authority will pay Pivot Energy a total of $7,477,520.92, funded from existing park development budget lines, to clear the parcels for further development.
Contract Details
Contract Amount
$7,477,520.92
Vendor
PIVOT ENERGY
Agency
Pittsylvania County, VA
Contract Type
FACILITIES
Document Date
December 23, 2025
Contract Term
Settlement must be paid by February 27, 2026; agreements effective December 2025
Renewal Date
2026-02-27
Renewal Info
One-time early termination and settlement of three solar lease agreements; no renewal options described. Payment must be completed by February 27, 2026 or it is a breach under individual agreements.
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