11-13-301. Project entity and generation output requirements.
(1) Each project entity: shall: except for construction of facilities providing replacement project capacity, before undertaking the construction of a project and before undertaking the construction of facilities to provide additional project capacity, offer to sell or make available at least 50% of the generation output of or electric energy produced by the project or additional project capacity, respectively; establish rules and procedures for an offer under Subsectionthat provide at least 60 days for a prospective power purchaser to accept the offer before the offer is considered rejected; and (1)(a)(i) make each offer under Subsection: (1)(a)(i) under a long-term arrangement that may be an undivided ownership interest, a participation interest, a power sales agreement, or otherwise; and to one or more power purchasers in the state that supply electric energy at wholesale or retail; and may undertake construction of facilities providing replacement project capacity for its project.
(2) The generation output or electric energy production available to power purchasers in the state from a project shall be at least 5% of the total generation output or electric energy production of the project. Subject to Subsection, at least a majority of the generation capacity, generation output, or electric energy production facilities providing additional project capacity shall be: (2)(b)(ii)(B) made available as needed to meet the estimated electric requirements of entities or consumers within the state; and owned, purchased, or consumed by entities or consumers within the state. As used in this Subsection, "default provision" means a provision authorizing a nondefaulting party to succeed to or require the disposition of the rights and interests of a defaulting party. (2)(b)(ii) The requirements of Subsectiondo not apply to the extent that those requirements are not met due to the operation of a default provision in an agreement providing for ownership or other interests in facilities providing additional project capacity. (2)(b)(i)