R362-1-3. Conditions

(1) In order to qualify for a tax credit, an alternative energy entity must meet those requirements outlined in Subsection 63M-4-503(1)(b), and must be prepared to:

(a) follow the procedures and expectations outlined in Sections 59-7-614.7, 59-10-1029, and 63M-4-504; and

(b) bear any costs associated with meeting the requirements outlined below in Subsection R362-1-4(2)(b)(ii)(A).

(2) In addition, the alternative energy entity must demonstrate the viability of its alternative energy project by submitting evidence it has secured:

(a) one or more land leases or other form of site control; and

(b) one or more of the following:

(i) permits from a local, state or federal regulatory agency, not to include conditional use permits;

(ii) financing sufficient to initiate project development activities, as may be:

(A) assessed, at the office's request, by third party financial review; or

(B) affirmed by the existence of one or more:

(I) power purchase agreements; or

(II) off-take agreements.

(iii) a position in the generation interconnection queue that has advanced beyond the Feasibility Study phase.