Pacific Blue updates on acquisition of Gila Bend Property

Pacific Blue Energy (PBEC), a developer of renewable energy projects, has said that an option for the purchase of 100 acres in the town of Gila Bend in Maricopa County, Arizona, has been extended to 10 December 2010 from the original closing date of 10 September 2010.

In order to secure the extension on the purchase of the 100 acres, PBEC had to cancel the option on the 707 acres adjacent to that property.

However, the company’s intention remains to purchase and develop all 807 acres.

When the sale is final, PBEC plans to take advantage of the town’s favorable support for renewable energy by building a utility-scale solar energy project.

That support, which was previously expressed by members of the Gila Bend Town Council, will hopefully provide an opportunity for PBEC to fast-track the permitting process, the company said.