A French energy company has eyes on a new site location in Osceola County

OSCEOLA COUNTY, Fla. — Panacea, Global Inc., Formally known as CMG Clean Tech, has put eyes on a new site location in Osceola County.

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The French-based company makes solar panels, roof tiles, mobile green hydrogen units, solar-assisted heat pumps, lithium batteries, and EV charging systems.

Recently, the company withdrew plans on the 309-acre Mac Overstreet property that would have sat back-to-back with residential housing.

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In late August, the company bid on the 63-acre Poinciana SunRail Station Property along with three other companies and was the most responsive applicant to Osceola County’s request for interest in the purchase and development of up to 63 gross acres of county-owned land adjacent to the Poinciana SunRail Station.

The new plant location will now sit next to a developing K-8 school and undeveloped housing units that homeowners may not know will be there.

George Almodovar, a Licensed Real Estate Broker, said buyers who have already begun the process of buying the homes behind the plants are stuck with their future purchase even if they didn’t know the plant was in the county’s plans.

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“Honestly, you can’t do much because it’s not material fact, not purchased details regarding the property itself or within the community. Its outside the community, so pretty much people are stuck”, said Almodovar.

Almodovar said people who planned to buy homes in that location would have had to do their research and not depend on the realtor to tell them the community’s future.

Even though the proposal for the plant was not at the location originally planned, unfortunately for home buyers, once the contracts for the new homes are signed, buyers can not cancel or claim a defect on the contract because of the unknown.

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The county said it plans to streamline the process of the property since it’s zoned for industrial use.

“We expect the process to finalize the agreement with Panacea will be streamlined. It is our intent to negotiate an Acquisition and Development Agreement for this site with Panacea, which will be presented to the Board for their consideration at a public meeting. Board approval will bring us one step closer to bringing 1,200 high-wage jobs to Osceola County.”

-Osceola County

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