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Agency approves estoppel certificate to finish Green River Energy Center financing
Summary
The Emery County CRA approved an estoppel certificate confirming existing 2022 participation agreements for the Green River Energy Center’s final financing phase, with staff saying the certificate confirms no known defaults and is needed to close the lender’s financing.
The Emery County Community Reinvestment Agency approved an estoppel certificate for the Green River Energy Center financing, a procedural document lenders often require to confirm the validity of prior participation agreements. Sherry Durden, representing the Utah association team, told the board this certificate relates to agreements negotiated in 2022 and should be executed so the project can complete its final financing phase.
"Basically, the agency is saying to the lender that you believe that all of the participation agreements are valid and in order," Durden said, summarizing the estoppel language. Commissioners confirmed there had been no substantive changes to the participation agreements that would alter the agency’s position and moved to approve the certificate. The motion carried on a voice vote.
The board’s action authorizes staff to sign the estoppel and send confirmation to the lender so the Green River center’s final phase of funding can proceed.
