A solar energy project in the desert north of Las Vegas is back on track after resolution of a land-purchase dispute.
Spanish company Fotowatio Renewable Ventures filed suit last week in Clark County District Court charging more than $45 million in financing and some 250 construction jobs were in jeopardy because defendant Kapex LLC had failed to sell, as agreed, 154 acres needed for the project in the Apex area.
The lawsuit was dropped Thursday after the parties resolved the dispute and the land was purchased, said Las Vegas attorney William Coulthard.
The lawsuit appeared to have been driven by a dispute over the price for the land.
Coulthard, of the firm Kemp, Jones & Coulthard LLP, said the deal included some "additional consideration."
Fotowatio had initially agreed to pay $4.446 million, court records show.
"The project is on track and they’re happy to have the lawsuit behind them," Coulthard said Friday.
The Apex plant in the Mountain View Industrial Park – one of two Fotowatio is developing in the area – will provide enough electricity to the NV Energy grid to serve some 5,000 homes.