The State Land Board approved a 120-megawatt solar farm on 1,140 acres of trust land in Pueblo County, pushing the total megawatts of renewable energy approved for public school lands past the goal of 800 megawatts Colorado had set for next June.
The board, whose revenue goes to the Public School Trust for building schools and supporting the School Finance Act, has now permitted 806 megawatts of renewable energy generation.
The lease for the Mirasol Solar farm could bring more than $26.3 million in leasing fees to the school trust over the course of the agreement. The development on state land is part of a 200-megawatt solar project that also involves adjacent private land holdings. Mirasol will connect to Xcel Energy/Public Service new transmission lines, with construction beginning next year and linking to the grid expected in winter 2028, state officials said.
The project involves a $540 million capital investment by the developers, the state release said. The developers’ representatives did not return requests for additional comment Thursday.
The land board has a combined mandate to maximize revenue for schools while also stewarding the land for future generations. The push into renewables joins a number of existing leases on Land Board property, for oil and gas and other mineral development, recreational facilities, agriculture and other uses.
State trust land now leases for renewable projects including solar, wind, transmission, battery storage and more.
“By putting our state trust lands to work generating solar power, we’re saving Coloradans money, reducing pollution, protecting our environment, better funding our schools, and achieving our clean energy goals. This is what building a stronger, more sustainable Colorado for all looks like,” Gov. Jared Polis said in a statement.
Land board leasing requirements will balance the industrial energy development with land stewardship on the site that includes minimal disturbance, restoring native plants after construction, and full reclamation when the energy plant is decommissioned. The board will also work with nearby farmers to mitigate any impacts.