Samsung asks for tax breaks on Texas solar proposal

 Austin American-Statesman:

Technology giant Samsung is considering spending $673 million to build solar energy farms in Central Texas, according to documents filed with the state.

Samsung C&T, a subsidiary of Samsung Group, has negotiated tax breaks for the potential projects in Milam County, north of the Austin metro area.

Samsung C&T is one of a number of subsidiaries of Samsung Electronics, which already has a large Central Texas presence. Samsung C&T is focused primarily on construction, engineering, trade, investment, fashion and resort projects.

Plans for the project call for three solar farms that could generate as much as 700 megawatts of electricity.

The filings show three separate projects on more than 6,800 acres of land in Milam County, which is east of Williamson County and about an hour and a half from Austin. Samsung is leasing the land long-term, the filings show. Once in operation, the projects would last 25 years or longer, according to filings with the state.

More:Shutdown of Austin fab during freeze cost Samsung at least $268 million

More:Samsung wants $1 billion tax incentive for new Austin plant that would create 1,800 jobs

The Milam County sites are competing with sites in California, Georgia, Michigan, Illinois, Virginia, Tennessee, Minnesota, Arkansas and Mississippi, as well as several sites in other countries, according to documents filed with the Texas comptroller's office.

Three Milam County school districts — Rosebud-Lott, Cameron and Buckholts — combined to approve four Chapter 313 agreements earlier this month for the project, under the names Ben Milam Solar 1, 2 and 3.

Chapter 313 incentive agreements refer to Chapter 313 of the Texas Tax Code, which allows school districts to grant an up to ten-year property tax break for economic development projects.

The districts each approved separate 10-year deals with Samsung C&T beginning in the 2024-25 school year. Buckholts school district has an agreement that limits the taxable value to $17 million, Cameron school district limits it to $20 million and with Rosebud-Lott school district, two agreements limit taxable value to $40 million.
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There is more.

It is not clear how the political subdivision break even on a deal like this.  During the Texas deep freeze, Texas solar production was minimal because of snow covering their panels.  I am not a big fan of wind or solar energy production.  They are just too unreliable especially when they are needed the most.  States that depend on them also have to spend extra to have backup energy when the alternative energy sites are not productive.

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