Financial Assurance For Renewable Energy

This bill, called the "Renewable Energy Financial Assurance Act," requires owners of renewable energy facilities in New Mexico to provide financial assurance to cover the costs of removing equipment and cleaning up the site when the facility is no longer in use. It creates a "Renewable Energy Decommissioning Fund" to manage these funds and ensures the state can oversee the decommissioning process. This affects companies operating solar, wind, geothermal, and other renewable energy facilities by requiring them to plan and pay for future site cleanup.

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