By Editors of Power Engineering
Just months after the coal-fired Brayton Point Power Station closed for good, a real estate company entered into a contract to purchase and redevelop the facility.
Commercial Development Company Inc. announced plans to purchase the 307-acre site from Dynegy. The sale is expected to close in December, though the purchase price was not revealed.
CDC plans to develop a market-ready plan to “transform the former energy asset for post-coal utilization,” but did not specify how the plant would be used. The release noted the site could be used to support offshore wind energy by becoming an industrial wind port.
“Multiple factors attracted us to this site, of greatest interest was the potential for renewable energy development. Today the site is non-operational, however we are confident that once the site is repositioned, the unique attributes will attract investors from multiple sectors,” said Randall Jostes, CEO of CDC.
Some restoration activity will include asbestos abatement, environmental remediation and restoration, and demolition of most of the coal-related infrastructure on site.
“Dynegy went to great lengths to choose a buyer who would not only provide fair market value for the real estate assets, but also have the vision and expertise to repurpose the site for new development activity,” Jostes said. “We commend Dynegy for their proactive approach to ensure that the site would not sit idle and become a source of local blight and economic decay.”
CDC has purchased multiple retired coal energy assets from companies including American Electric Power, DTE Energy, Indiana & Michigan Power and others.
The 1,600-MW Brayton Point was originally commissioned in 1963 and was officially decommissioned in May 2017.