Development involving real estate can sometimes be exceptionally complex, and, in some cases, cross state and regional lines in a single project. Take, for example, a new project currently being attempted by a billionaire investor to provide wind-generated energy to California while keeping clear of the Golden State’s zealous conservationists. California often exists in a perplexing quantum state when it comes to projects like this one — on the one hand, the population is generally enthusiastic about green energy development, but special interest groups also make it very difficult to build many kinds of structures that may obscure or crowd natural landscapes.
To overcome this complex conflict of various interests, investors and developers are working across state lines to bring desired wind energy to California without cluttering the states open areas, where wind turbines would be erected. Currently, the plan entails running transmission lines to carry the energy generated from wind farms in Wyoming all the way to California — a process that has taken nearly 8 years to clear though several states, at a cost of nearly $100 million.
This project could be a sign of things to come, with a number of other investors watching from the sidelines to see how the monumental undertaking plays out. If the investment is a win for enough of the investors and recipients of the end product, it could pave the way for a number of further development projects in the same vein.
Real estate development can sometimes stretch well beyond just building shopping centers, business parks and housing complexes. Whatever your real estate development plans may be, you will benefit from experienced legal guidance to help you navigate the constantly evolving terrain of local and regional development.
Source: Fortune, “How Billionaire Philip Anschutz Is Cashing In on California’s Thirst for Wind Power,” Feb. 15, 2017