Louisiana Revised Statutes 30:1161 – A “renewable energy lease” is a lease of immovable property that is entered for the primary purpose of the lessee’s engaging in the production of wind, solar, or hydroelectric energy
Current as of: 2023 | Check for updates
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Terms Used In Louisiana Revised Statutes 30:1161
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
A “renewable energy lease” is a lease of immovable property that is entered for the primary purpose of the lessee’s engaging in the production of wind, solar, or hydroelectric energy using the leased immovable and any other lease pursuant to which the lessee’s primary activity on the leased immovable is the production of wind, solar, or hydroelectric energy. A renewable energy lease is not a mineral lease. The lessee’s rights in a renewable energy lease and his rights in the buildings, improvements, and other constructions on the leased immovable are susceptible of mortgage.
Acts 2023, No. 455, §1, eff. June 28, 2023.