The Sullivan Strip is a 300+/- acre flat tract that in the past has been earmarked for a variety of potential leases ranging from large scale industrial park to commercial farming. .
Mid-2021, the Beaver office was contacted by John France of Bear Peak Power, LLC. John is a West Virginia native who has over 13 years of experience in business development, asset evaluation, project management, operations, and strategy in the energy industry. John’s partner, Ryan Scott, has 14 years of experience in the real estate and energy fields. John and Ryan currently have several 55 MW solar projects in New York under their partnership with SMT Energy, LLC and are actively working on acquiring land through lease or purchase in the states of Pennsylvania and West Virginia for additional solar projects. After a couple of negotiations, Mr. France and Mr. Scott signed a three year option agreement with Beaver Coal Company for $60,000 and was later amended to include two additional years. If Bear Peak exercises their lease option, it will result in a 25 year lease with two additional five year extension options at a rate of $1,000 per usable acre, which is estimated to be around 225 acres. John, Ryan, and their team are currently in the process of completing the due diligence studies and obtaining the necessary permits to move their project forward.