UPDATED, 11:45 a.m., June 11: Florida Power & Light Co. just purchased nearly 1,300 acres in western Palm Beach County for $19.3 million to use as a solar farm.
SVN Florida Commercial Real Estate Advisors coordinated the sale of the 1,287-acre tract in an area known as The Acreage/Loxahatchee Groves, according to a release. Ashley Barrett Bloom, SVN’s national land & development services product council chairman, represented the sellers.
The property is bordered on three sides by a planned, large-scale housing project by GL Homes, one of the most active homebuilders in Palm Beach County.
FPL is set to close on nearly 400 acres in the city of Westlake, which is Palm Beach County’s newest city. The combined projects will create 1,700 acres of solar farm.
FPL did not immediately respond to a comment.
Across Florida, FPL has installed more than 3.5 million new solar panels in less than two years. By 2023, FPL expects to increase this to more than 10 million solar panels. FPL is the third-largest electric utility in the United States, serving about 5 million customer accounts or more than 10 million people across nearly half of the state of Florida.
An earlier version of this story incorrectly stated that FPL acquired nearly 400 acres in Westlake. That deal has not yet closed.