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CDC Acquires Coal-Fired Power Plant, ELT Assumes Environmental Liabilities
Commercial Development Company, Inc. (CDC) is pleased to announce the acquisition of a 70-acre retired coal-fired power plant in central Missouri from Associated Electric Cooperative, Inc. (AECI). This marks CDC's fourth coal power plant purchase since 2014.
The "Chamois Power Plant" delivered electricity to central Missouri for over 60 years. Located along the Missouri River, the plant retired from operations in 2013 due to energy market factors and expected cost issues associated with future environmental regulations.
AECI sought proposals from more than 50 firms for decommissioning the facility and employed a third-party engineering firm to review those proposals.
"AECI conducted an extensive national search, and selected CDC & ELT due to their 25 years of experience and success in remediation and transformation of industrial sites. CDC has decommissioned a number of coal plants and has a solid record of environmental responsibility."
-- Brian Prestwood, VP and Chief Compliance Officer at AECI
EnviroAnalytics Group (EAG) will now commence a series of environmental remediation and demolition projects at the retired power plant. The expected timeline for completion is 3 years, at which point the site will be marketed for potential reutilization.
"We will now work to restore the beauty of this prime location along the Missouri River in preparation for new ownership and possible development activity," said
Tim Smith Senior Vice President at ELT.
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In this Newsletter:
ELT Assumes Environmental Liabilities at Missouri Coal-Fired Power Plant
Fixed-Price Remediation & Decommissioning Program
Brownfield Progress: Retired AEP Power Plant Update
Upcoming Conferences
Currently Seeking to
Acquire
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Fixed-Price Environmental Remediation & Decommissioning
This ELT program is designed for energy companies and other potentially responsible parties seeking a cost-controlled solution for managing the retirement and decommissioning of facilities in the energy and industrial sectors.
The reality of power plant retirement is that budget forecasts seldom align with actual costs - this can be due to a variety of factors including: higher than expected concentrations of contamination, changes to regulatory requirements, fluctuating interest rates, contractor disputes, and so on.
ELT will underwrite the environmental liabilities and other site retirement costs and provide a value proposition to contractually assume the liabilities and obligations in perpetuity. ELT will also purchase real estate assets as part of the transaction.
To learn more about ELT's power plant program, please
contact us
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This ELT program is designed to provide:
Cost-Controlled Power Plant Decommissioning
Zero Exposure to Environmental Liabilities
Transfer of All Regulatory Compliance Obligations
Maximum Value for Retired Assets
Corporate Indemnification
Protection against Over-Billing and Budget Overruns
Protection from Future Environmental Litigation
Human Health & Safety Benefits
Pathway to Sustainable Redevelopment
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Brownfield Progress Update: Environmental Cleanup & Demolition Underway at Retired AEP Power Plant
Columbus Business Journal / Photos: demolition, rehab underway at defunct riverfront AEP plant
In 2015, ELT assumed the environmental liabilities at the retired AEP Picway Power Plant outside Columbus, Ohio. CDC purchased associated real estate assets (468 acres). This transaction sparked an environmental cleanup that is transforming this distressed site for new utilization.
Today environmental remediatio
n and site demolition are in the final stages of completion. Last month the plant's 288-foot smoke stack was demolished (watch video) as well as the 60,000 sq/ft boiler room and other structures on site.
CDC is working with our network and local stakeholders to find an appropriate end-user to take advantage of the site's attractive attributes. For more information about this property contact us.
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Upcoming Conferences & Industry Events
Our teams will be attending the following conferences & events this year. If you will be attending any of these events, please let us know so we can connect!
July 19-21, 2017
Chicago, IL
ABA Section of Environment, Energy, and Resources Fall Conference
October 18-21, 2017
Baltimore, MD
October 23-25, 2017
Denver, CO
November 1-3, 2017
Philadelphia, PA
December 5-7, 2017
Pittsburgh, PA
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Comprehensive & Sustainable Transfer of Environmental Liabilities
If environmental liabilities are impacting your operations, transactions, or balance sheet, please contact us. ELT can assume the liability (with or without real estate purchase) and provide robust indemnification from all environmental obligations in perpetuity.
Additionally, our group can leaseback real estate, acquire under-performing assets, and execute environmental cleanup at a guaranteed fixed price
- Real Estate Purchase
- Environmental Liability Transfers
- Liability Transfers + Real Estate Purchase
- Sale Leaseback Options Available
- Guaranteed Fixed Price Solution
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About Our Group
Commercial Development Company, Inc. (CDC), Environmental Liability Transfer, Inc. (ELT), and EnviroAnalytics Group LLC (EAG) comprise one of North America's fastest growing brownfield redevelopment and environmental remediation and consulting firms. Our focus is finding win-win solutions to environmentally-impacted real estate and helping clients navigate the complexities of environmental liabilities within the areas of: real estate development, environmental liability transfers, sustainable redevelopment planning, risk management, and environmental remediation.
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Acquire & Develop Real Estate
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Transfer Environmental Liabilities
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Environmental Remediation
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Contact Us
For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities, please contact us.
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