Site Lease Option Agreement for a Renewable Energy System
A Site Lease Option Agreement provides the right but not the obligation for a third party investor (e.g., an installer, developer or financier) to lease property to build a solar, solar plus storage, wind or other renewable energy generating system on a property for a set amount of time. This Site Lease Option Agreement provides for exclusivity during the option period, rights of access during the preliminary design phase before the option is exercised and certain other terms standard to these types of arrangements. Each party to the agreement provides covenants, representations and warranties related to their business and the property, which are designed to protect both parties while the project is being developed.
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