As I have written before, the ESB acquired a site from my father and built a transformer station on it. Because of its location, and the fact that it has spare capacity, I have been approached by 11 separate companies wishing to link the transformer station with a solar development on the land. I had the various offers analysed by an accountancy firm with a lot of experience in the area, and while the exact terms are governed by a confidentiality agreement, the annual rental income is well ahead of any likely return from conventional farming. On that basis, I signed a form entitling my prospective customer to apply for a grid connection to supply solar-generated electricity to “my” transformer station.
Last week, I went in to my tax adviser before signing an option agreement which I was quite prepared to accept was a legally binding step on the way to signing a full lease.