There are often concerns about what happens to a solar farm once it stops producing energy or if the owner goes out of business. As part of the permitting process, Apex must provide a complete detailed decommissioning plan that is funded by an irrevocable form of financial security to cover decommissioning costs. This ensures that money is always available to remove the solar farm if or when it is no longer operable.
Swiftwater’s lease agreement requires that the lessee decommission the project at the end of its operational life and restore the land to its pre-facility state at the project’s expense and at no cost to local landowners or taxpayers. The lease further requires that the project post financial security on or before the project’s twelfth year of operation to ensure funds are in place for decommissioning and restoration.