FINANCIAL ASSURANCE FOR SOLAR & WIND

Summary

The bill forces owners of solar and wind energy facilities in New Mexico to provide an irrevocable financial guarantee—such as a letter of credit, bond or insurance policy—before the plant can operate, ensuring money is available to remove equipment and remediate the site when the plant is retired. The Energy Conservation and Management Division will set the rules, and any forfeited guarantees are collected by the Attorney General and placed in a new Solar and Wind Decommissioning Fund. The measure is intended to protect the state and taxpayers from future cleanup costs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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