Vidler Water Resources (VWTR) Stock News, May 6, 2021

Vidler Water Resources announced a lease agreement to rent up to 1,926 acres in Arizona to a major wind and solar energy producer. The five-year option features a lease rate of $500 per acre annually, increasing by 2% each year, extending for up to 26 years. Additionally, Vidler will reserve 2,000 Long-Term Storage Credits for $1,630 each to aid construction. The CEO highlighted the collaboration's potential amid a mega-drought driving water supply demand. Ongoing negotiations for the Ten West Link Transmission Project may further attract energy projects.