Energy; Oklahoma Wind Energy Development Act; modifying property restoration requirements; modifying allowable financial assurance instruments. Effective date.
What changed between versions
Wind energy decommissioning requirements now allow lease agreements to include provisions that are either more or less restrictive than the statutory minimum, whereas previously only more restrictive provisions were allowed.
Property restoration requirements for wind energy facilities were updated to clarify that disturbed earth must be restored to substantially the same physical condition as before construction, with exceptions for roads unless specifically requested by the landowner.
New provisions were added for solar power facilities requiring grantees to provide financial assurance for facility removal, establishing a parallel framework to the existing wind energy requirements.
Financial assurance options for wind energy facilities were modified to allow cash as a standalone option alongside surety bonds and other instruments, simplifying the available methods for posting financial security.
Financial security submission timelines for wind energy facilities remain unchanged, requiring submission within the fifth year of operation for facilities reaching commercial generation on or after December 31, 2016.
Administrative penalty amounts for failing to submit required financial security information remain at $1,500 per day, with no changes to enforcement mechanisms.
