
Adam Prestidge
92:10 - 92:39
"If you're looking at the life of the 30-year loan, any lender or investor is going to look at the economics of that— of the project on that 30-year forecast and can the project handle its debt service payment— its debt payments over that period of time. And so having the tax reduction apply for that time, that equal amount of time to the loan is very critical in— for the economic viability of of the project."
“If you're looking at the life of the 30-year loan, any lender or investor is going to look at the economics of that— of the project on that 30-year forecast and can the project handle its debt service payment— its debt payments over that period of time. And so having the tax reduction apply for that time, that equal amount of time to the loan is very critical in— for the economic viability of of the project.”
That's why we've ended up with a 30-year loan. [SPEAKING SPANISH] If you're looking at the life of the 30-year loan, any lender or investor is going to look at the economics of that— of the project on that 30-year forecast and can the project handle its debt service payment— its debt payments over that period of time. And so having the tax reduction apply for that time, that equal amount of time to the loan is very critical in— for the economic viability of of the project.
Glenfarne's Adam Prestidge told the Alaska Senate Finance Committee on Tuesday that the 2060 sunset in HB 381 is non-negotiable because lenders underwriting 30-year project debt will assume the worst-case tax scenario for the full loan term if any shorter abatement is written into law.

Glenfarne president Adam Prestidge told the Alaska State Senate Finance Committee on Tuesday that the company bears all development costs and has no right to reimbursement from the state if the Alaska LNG project collapses before reaching a final investment decision.
