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ELT Announces Purchase of Retired Fox Lake Generating Station
ELT has announced the
purchase of the retired Fox Lake Generating Station from Alliant Energy's Iowa energy company. The transaction included the purchase of real estate assets, machinery & equipment, and the assumption of legacy environmental liabilities associated with the site. ELT will now manage the decommissioning and demolition process as well as environmental remediation obligations going forward.
The Fox Lake Generating Station represents ELT's sixth power plant acquisition since 2014. ELT's power plant portfolio now includes over 3300-MW of retired generation capacity from energy companies such as Dynegy, AEP, DTE Energy, Indiana Michigan Power, and others.
Redevelopment planning and marketing of the Fox Lake site will be managed by Commercial Development Company, Inc (CDC). Throughout the process, CDC will be meeting with local leaders and economic development agencies to find potential users who could benefit from the site's attractive development features, which includes 44 acres of lake front property and immediate access to substations and the power grid.
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October 2019
New Brownfield
Acquisition
ELT Acquires Assets & Liabilities at Retired Coal-Fired Power Plant
Brownfield Redevelopment VIDEO
Brayton Point Receives First Non-Coal Shipment to Reclaimed Port
Download ELT's New White Paper
Effective Brownfield Strategies to Reposition Retired Power Plants
ELT Acquisition Criteria
Seeking Environmental Liabilities & RE Assets in All Sectors
PREVIOUS ELT
NEWSLETTERS
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VIDEO: Brayton Point Receives First Cargo Shipment to New Marine Commerce Terminal
The historic transformation of Brayton Point reached another milestone recently with the first cargo shipment into the site's newly-redeveloped marine commerce terminal. This represents the first non-coal shipment to the site since its historic use as the largest coal-fired power plant in New England.
Today the marine terminal at Brayton Point Commerce Center is being repurposed to handle bulk cargo, heavy lift cargoes, and building materials for multiple sectors, including offshore wind. The first cargo shipment took place on September 25, 2019 and contained 30,000 MTs of de-icing salt, imported from the Atacama Desert region of Chile.
This was also the first international vessel call under the new developer Commercial Development Company, Inc. (CDC), following the acquisition of the 306 acre site in January 2018.
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New ELT White Paper: Effective Redevelopment Strategies
Last month, ELT's Randall Jostes (CEO) and Colleen Kokas (EVP) delivered a deep-dive analysis for the American Bar Association's Section of Environment, Energy, and Resources Fall Conference. The topic of the presentation and corresponding white paper below. This paper is now available publicly and we hope you find it beneficial.
The Answer is Blowing in the Wind -- How Effective Brownfield Redevelopment Strategies Repositioned a Retired Coal-Fired Power Plant for Renewable Energy
The remediation and redevelopment of contaminated sites come with a wide range of risks that can be mitigated with various strategies and tools. Experienced brownfield redevelopers routinely undertake complicated brownfield sites with the understanding of the best path is to complete the remediation and reposition the site for reuse. Although there is not a single "best path" to take, the assumption of environmental liabilities has proven successful at many brownfield redevelopment projects. This is demonstrated through the former Brayton Point Power Station redevelopment project, a former coal-fired power plant site that is now providing support for the offshore wind projects underway off the coast of southeastern Massachusetts.
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ACQUISITION CRITERIA
Seeking Environmental Liabilities and/or Retired Real Estate Assets
If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a confidential discussion.
ELT's core offering includes:
- Environmental Liability Transfers
- Brownfield Real Estate Purchase
- Liability Transfer + RE Purchase
- Guaranteed Cost Certainty
- Corporate Indemnification
- Maximum Value for Retired Assets
- Transfer of Regulatory Obligations
- Transfer of Post-Closure Obligations
- Sustainable Redevelopment Planning
- Sale / Leaseback Options
- Preservation of Legacy & Brand
Phone: 314-835-2813
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About Our Group
Environmental Liability Transfer, Inc. (ELT), along with four distinct affiliate companies under common ownership, have become one of the most impactful brownfield redevelopment and environmental remediation and consulting firms in North America.
By leveraging the core competencies of its affiliate partners, ELT now has the ability to consolidate multiple elements of brownfield redevelopment into ONE comprehensive value proposition - Real Estate Purchase, Environmental Liability Assumption, Fixed Price Environmental Remediation, Demolition, and Liquidation Services.
For more information on ELT or our affiliates, please visit our websites (right) or download ELT's
Brownfields Brochure.
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Contact Us
For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities or brownfield properties, please contact us.
John Kowalik
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