This bill mandates the transfer of spent nuclear fuel from the Prairie Island nuclear generating plant to a newly authorized storage facility at the Monticello nuclear generating plant. It allows the public utility to withhold funds from the renewable development account to cover the transportation costs associated with this transfer. Key amendments include the requirement for the construction of the spent fuel storage facility and the stipulation regarding the withholding of funds for transportation. Additionally, the bill repeals certain sections of the Minnesota Statutes related to renewable energy production incentives, aiming to streamline the funding process for renewable development while addressing the management of spent nuclear fuel in Minnesota.

Furthermore, the bill outlines the eligibility and payment structure for incentive payments related to renewable energy facilities, specifically targeting qualified on-farm biogas recovery facilities, hydropower facilities, and wind energy conversion facilities. It defines a "qualified on-farm biogas recovery facility" and establishes payment rates based on electricity generation, with a ten-year payment period for qualified facilities. The bill also includes provisions for ownership and financing, allowing subsequent owners to continue receiving incentives if they meet eligibility criteria, and details the application process for obtaining these incentives. Overall, the bill aims to promote renewable energy generation through financial incentives while ensuring compliance with ownership and operational requirements.

Statutes affected:
Introduction: 116C.771, 116C.777, 116C.779