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Emery County CRA approves estoppel certificate for Green River Energy Center financing
Summary
The Emery County CRA approved an estoppel certificate for the Green River (Moore) energy project, confirming the agency's understanding that the 2022 participation agreements remain valid and that no defaults are known, enabling the project's financing to proceed.
The Emery County Community Reinvestment Agency approved an estoppel certificate for the Green River Energy Center's Phase One financing, a procedural acknowledgement lenders requested to complete the project's financing.
"Basically the agency is saying to the lender that you believe that all of the legal requirements under those participation agreements are valid and in order," UAC's Sherry Darden told commissioners while explaining that the estoppel confirms there are no agency-identified defaults on the 2022 participation agreements. Commissioners moved, seconded and approved the estoppel certificate.
Commissioners clarified that some boundary adjustments had occurred since the original 2022 agreements but that the participation agreements themselves remained in effect. The certificate serves as a lender assurance and does not change the substance of earlier negotiated terms; commissioners approved the item by voice vote and Chair announced the motion passed.
