Entergy, the operator of the Vermont Yankee nuclear power plant, made its first payment to the state Thursday as part of a settlement agreement reached with the state last year in exchange for a state license to operate until the end of the year when the plant is slated to close, officials said.

Entergy paid $5.3 million to the state’s Clean Energy Development Fund to support renewable energy projects. Half of the money will go to projects in Windham County, where the plant is located.

The company also put $10 million into a site restoration fund to return the plant’s site back to green fields. This is the first payment into the newly created Site Restoration Trust to total $25 million plus an additional parent company guarantee.

“We are pleased that with these deposits Entergy VY has completed its financial commitments for this year, all in accordance with the terms of the Agreements,” Public Service Department Commissioner Chris Recchia said in a statement.

“The Public Service Board’s decision last week to uphold its earlier endorsement of the Agreement made moving forward with these payments possible,” Recchia said, referencing the board’s decision to deny a motion to reconsidered the conditions placed on the plant’s certificate of public good.

Entergy will also pay the state $10 million for economic development in Windham County, payable at $2 million per year for five years, as part of the agreement reached with the state.

Entergy, the Louisiana-based company that operates Vermont Yankee, announced in August it would close the 42-year-old Vernon plant in 2014 for financial reasons.