(a)Subject to subsection (b), and except as
otherwise allowed by IC 36-7-4-1109, a project owner may not install
or locate a wind power device in a unit unless the project owner
submits to the permit authority a decommissioning and site restoration
plan, and posts a surety bond, or an equivalent means of security
acceptable to the permit authority, including a parent company
guarantee or an irrevocable letter of credit, but excluding cash, in an
amount equal to the estimated cost of decommissioning the wind power
device, as calculated by a third party licensed or registered engineer, or
by another person with suitable experience in the decommissioning of
wind power devices, as agreed upon by the project owner and the
permit authority. The required bond or other security shall be posted in
Free access — add to your briefcase to read the full text and ask questions with AI
(a) Subject to subsection (b), and except as
otherwise allowed by IC 36-7-4-1109, a project owner may not install
or locate a wind power device in a unit unless the project owner
submits to the permit authority a decommissioning and site restoration
plan, and posts a surety bond, or an equivalent means of security
acceptable to the permit authority, including a parent company
guarantee or an irrevocable letter of credit, but excluding cash, in an
amount equal to the estimated cost of decommissioning the wind power
device, as calculated by a third party licensed or registered engineer, or
by another person with suitable experience in the decommissioning of
wind power devices, as agreed upon by the project owner and the
permit authority. The required bond or other security shall be posted in
increments such that the total amount of the bond or security posted is
as follows:
(1) An amount equal to twenty-five percent (25%) of the total
estimated decommissioning costs not later than the start date of
the wind power device's full commercial operation. For purposes
of this subdivision, the total estimated decommissioning costs
shall be reevaluated by a third party licensed or registered
engineer (or by another person with suitable experience in the
decommissioning of wind power devices, as agreed upon by the
project owner and the permit authority) in connection with the:
(A) fifth anniversary; and
(B) tenth anniversary;
of the start date of the wind power device's full commercial
operation, and the total amount of the bond or security posted
under this subdivision shall be adjusted as necessary after each
reevaluation.
(2) An amount equal to fifty percent (50%) of the total estimated
decommissioning costs not later than the fifteenth anniversary of
the start date of the wind power device's full commercial
operation. For purposes of this subdivision, the total estimated
decommissioning costs shall be reevaluated by a third party
licensed or registered engineer (or by another person with suitable
experience in the decommissioning of wind power devices, as
agreed upon by the project owner and the permit authority) in
connection with the fifteenth anniversary of the start date of the
wind power device's full commercial operation, and the total
amount of the bond or security posted under this subdivision shall
be adjusted as necessary after the reevaluation.
(3) An amount equal to one hundred percent (100%) of the total
estimated decommissioning costs not later than the twentieth
anniversary of the start date of the wind power device's full
commercial operation. For purposes of this subdivision, the total
estimated decommissioning costs shall be reevaluated by a third
party licensed or registered engineer (or by another person with
suitable experience in the decommissioning of wind power
devices, as agreed upon by the project owner and the permit
authority):
(A) in connection with the twentieth anniversary of the start
date of the wind power device's full commercial operation; and
(B) at least once every succeeding five (5) year period after the
twentieth anniversary of the start date of the wind power
device's full commercial operation;
and the total amount of the bond or security posted under this
subdivision shall be adjusted as necessary after each reevaluation.
(b) For purposes of this section, the estimated cost of
decommissioning a wind power device, as calculated by a licensed or
registered professional engineer (or by another person with suitable
experience in the decommissioning of wind power devices, as agreed
upon by the project owner and the permit authority), shall be net of any
estimated salvage value attributable to the wind power device at the
time of decommissioning, unless the unit and the project owner agree
to include any such value in the estimated cost.