UNIVERSITY PARK, Pa. – Don’t be too quick to sign off on any deal to lease wind or any other resource on your farm, advises an energy expert in Penn State’s College of Agricultural Sciences, who points out that if the deal sounds too good to be true, it probably is.
Don’t feel pressured. “If you are contacted by a developer wanting to lease the wind (or any other energy resource) from your farm, don’t feel pressured if they tell you ‘It’s now or never,'” said Dennis Buffington, professor of agricultural engineering.
“Of course, you don’t want to drag your feet too long, or you may loose an opportunity for an attractive cash stream coming your way each year for the next 15 or 20 years.”
Buffington urges farmers to seek qualified legal advice before signing any contract they are offered.
“There are numerous issues that they and their legal counsel must understand and they must make sure that certain issues are adequately considered before signing any legal documents,” he said.
Questions to consider. Buffington contends that farmers should know the answer to each of the following questions:
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