JONESBORO, AR (KAIT) - A Houston-based company announced this week that it will make more than 2 million dollars in ad valorem payments, or payments based on the assessed value of personal property or real estate, to 5 counties in Region 8.
The company also announced the intent to pay more than $800,000 in infrastructure payments to Cross, Jackson, Mississippi, Poinsett and White Counties.
Clean Line Energy, which is seeking approval from the U.S. Department of Energy to construct the Plains & Eastern Clean Line project, is "developing a series of transmission projects to move renewable energy to market."
According to a news release, the payments would continue each year.
"The Plains & Eastern Clean Line will facilitate an approximately half-billion dollar investment in Arkansas and will deliver 500 megawatts of low-cost, wind power to Arkansas, doubling the amount of low-cost wind energy the Natural State currently purchases," the release stated. "The Plains & Eastern Clean Line includes a converter station located in central Arkansas, which will provide Arkansas with access to affordable, domestic power for years to come."
Clean Line also said the project will serve approximately 160,000 homes per year.
Michael Skelly, President of Clean Line, said the company will pay more than $30-million to landowners in Arkansas to compensate the project.
Revenues for each county in Region 8 (according to Clean Line):
- $300,000 in ad valorem payments to Cross County, $120,750 in infrastructure payments
- $600,000 in ad valorem payments to Jackson County, $242,750 in infrastructure payments
- $300,000 in ad valorem payments to Mississippi County, $122,250 in infrastructure payments
- $600,000 in ad valorem payments to Poinsett County, $236,250 in infrastructure payments
- $300,000 in ad valorem payments to White County, $129,000 in infrastructure payments
Click here to read about the project.