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DeWitt County Board Debates Financial Form for Decommissioning Agreement With Enel

The DeWitt County Board last Thursday night debated the decommissioning form for the letter of credit from Enel.

 

The international renewable energy company wants to use an overseas bank with one branch in New York. Board member Terry Ferguson questioned the longevity of the overseas bank.

 

 

Enel has to make its first deposit into the account on the first anniversary of the Alta Farms II wind farm going live. Ferguson reminds the County has to sign off on the bank used by Enel and Buck Carter wondered if this was a negotiable part of the agreement.

 

 

For more clarity, the Board turned to the agreement for the exact language and then wondered what would happen next if they said no.

 

 

Board Chair Dan Matthews suggested the Board vote down the recommendation and ask Enel to create an escrow account. The Board decided to table it and send the matter to the County treasurer to explore more about the option of an escrow account.

 

 

In other news related to Enel from the Thursday Board meeting, it was revealed to the Board that Enel representatives would be making efforts to get in front of the Board later this summer to discuss its curtailment issues. 

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