{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-160.15","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-160.15","heading":"Required filing - Evidence of financial security","body":"A. The owner of a wind energy facility shall submit to the\n\nCorporation Commission evidence of financial security to cover the\n\nanticipated costs of decommissioning the wind energy facility. For\n\na wind energy facility or portion thereof which reaches the\n\ncommercial generation date prior to December 31, 2016, the evidence\n\nof financial security shall be submitted after the fifteenth year of\n\noperation of the facility. For a wind energy facility or portion\n\nthereof which reaches the commercial generation date on or after\n\nDecember 31, 2016, the evidence of financial security shall be\n\nsubmitted by the fifth year of operation of the facility. Evidence\n\nof financial security may be in the form of a surety bond,\n\ncollateral bond, parent guaranty, cash, cashier's check, certificate\n\nof deposit, bank joint custody receipt or other approved negotiable\n\ninstrument as established in rules promulgated by the Commission.\n\nB. 1. For a wind energy facility which reaches the commercial\n\ngeneration date prior to December 31, 2016, the evidence of\n\nfinancial security shall be accompanied by an estimate of the total\n\ncost of decommissioning, minus the salvage value of the equipment,\n\nprepared by a professional engineer licensed in this state. The\n\namount of the evidence of financial security shall be either:\n\na. the estimate of the total cost of decommissioning\n\nminus the salvage value of the equipment which shall\n\nbe submitted to the Commission in the fifteenth year\n\nof the project and every tenth year thereafter for the\n\nlife of the wind energy facility, or\n\nb. one hundred twenty-five percent (125%) of the estimate\n\nof the total cost of decommissioning which shall be\n\nsubmitted to the Commission in the fifteenth year of\n\nthe project.\n\n2. For a wind energy facility which reaches the commercial\n\ngeneration date on or after December 31, 2016, the evidence of\n\nfinancial security shall be accompanied by an estimate of the total\n\ncost of decommissioning and an estimate of the salvage value of the\n\nequipment prepared by a professional engineer licensed in this\n\nstate. The amount of the evidence of financial security shall be\n\none hundred twenty-five percent (125%) of the estimate of the total\n\ncost of decommissioning, minus the salvage value of the equipment,\n\nwhich shall be submitted to the Commission by the fifth year after\n\nreaching the commercial generation date and thereafter upon request\n\nby the Commission.\n\nC. If the owner of a wind energy facility fails to submit the\n\ninformation with the Commission as is required by this section, the\n\nowner shall be subject to an administrative penalty not to exceed\n\nOne Thousand Five Hundred Dollars ($1,500.00) per day.\n\nD. In the event of a transfer of ownership of a wind energy\n\nfacility, the evidence of financial security posted by the\n\ntransferor shall remain in place and shall not be released until\n\nsuch time as evidence of financial security meeting the requirements\n\nof this section is posted by the new owner of the wind energy\n\nfacility and deemed acceptable by the Commission.\n\nE. The provisions of this section shall apply to any wind\n\nenergy facility or portion thereof entering into or renewing a power\n\npurchase agreement (PPA) for the energy generated by the wind energy\n\nfacility on or after January 1, 2011. If a wind energy facility\n\ndoes not sell its energy under a power purchase agreement, the\n\nprovisions of this section shall apply to the wind energy facility\n\nor portion thereof which construction commences on or after January\n\n1, 2011.","path":["OK Code","Title 17"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os17.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5496e926b6bc596beee5f170c32a804f14c092997fd491aa5f8cf00e41e3cc35","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-160.14a","next":"us-ok/okla.-stat.-tit.-17-17-160.16"},"notice":"GroundRules: Original legal text. Not legal advice."}