Proof of financing is all that stands in the way of Alpine Energy Group acquiring a lease for a waste-to-energy facility on St. Croix from the V.I. Port Authority.
Without concrete financial information, the authority was reluctant to approve a lease and went into executive session to discuss the issue.
The board ultimately voted to give Alpine an option to lease property on St. Croix for the facility, provided they meet certain criteria including appropriate proof of financing, according to VIPA’s Legal Counsel Don C. Mills.
The option essentially holds the property for Alpine until the energy company can work out lease negotiations with VIPA.
According to Mills, the land is raw, or unimproved, property, near the Gordon A. Finch Molasses Pier.
Alpine’s lease of government property for its facility on St. Thomas recently cleared the Senate’s Budget and Appropriations Committee and will soon go before the full body for final approval. Senate approval is not required for VIPA-owned land.
Once Alpine responds to the decision, the issue will be revisited by VIPA’s property committee before being forwarded on to the board.
