NAC704.9067. “Financial commitment” defined.

     1. “Financial commitment” means a financial obligation of the developer of a proposed renewable energy project within a renewable energy zone that evidences and supports the developer’s commitment and fitness to complete the construction of the renewable energy project, including, without limitation:

     (a) An executed contract for the sale of energy from the project;

     (b) An executed contract for the construction of the project;

     (c) A land use application and permit submitted to and approved by the United States Bureau of Land Management or other appropriate government agency;

     (d) The possession of ownership or leasehold rights in land or mineral rights necessary for the construction and operation of the project;

     (e) A generator interconnection request;

     (f) An executed transmission service agreement;

     (g) An executed interconnection agreement; and

     (h) A related cash deposit or letter of credit that secures:

          (1) Contracts for the sale of energy from the project;

          (2) Contracts for the construction of the project; or

          (3) The construction of any required transmission facilities or transmission service to deliver the project’s output to its purchaser.

     2. If any portion of the output of the developer’s proposed renewable energy project is expected to be sold to a purchaser other than the utility proposing construction of the transmission facilities, the term also means a financial obligation of the developer that evidences and supports the developer’s commitment and fitness to pay for the cost of the transmission required to deliver that portion of the project’s output to the purchaser other than the utility proposing the construction. The developer’s commitment and fitness to pay for the cost of the transmission may be demonstrated by including, without limitation, a commitment from another entity to pay for such costs.

     (Added to NAC by Pub. Utilities Comm’n by R088-10, eff. 12-16-2010)