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CDC Buys Brayton Point Power Station,
ELT Assumes Environmental Liabilities
Environmental Liability Transfer, Inc. (ELT) announces the assumption of environmental liabilities at the retired Brayton Point Power Station - a retired 1600 MW coal-fired power plant on the south coast of Massachusetts. Real estate and assets have been purchased by
Commercial Development Company, Inc. (CDC), by affiliate Brayton Point LLC.
CDC will now invest significant resources to dramatically transform the waterfront property and prepare it for post-coal utilization. Pre-development activity will include asbestos abatement, environmental remediation, 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," said Randall Jostes, CEO of ELT. "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."
Potential for Offshore Wind Energy Port Development
The 307-acre site at Brayton Point could represent a unique opportunity to advance the offshore wind energy sector due to its pre-existing access to the regional transmission grid. Additionally, the site boasts close proximity to proposed offshore wind tracts, deep water port potential, and access to a highly skilled workforce in the New England area.
Throughout the remediation process, CDC will be engaged in a global marketing campaign to find appropriate end users for this location.
About the Power Plant
Built in 1957 and commissioned in 1963, the Brayton Point Power Station was the largest coal-fired generating station in New England, and the last coal-fired power station in Massachusetts to provide power to the regional grid. At its peak, Brayton Point had a capacity of 1,600 MW and employed over 250 full time staff. The plant boasted four generation units providing electricity to 1.5 million homes using coal, natural gas, and oil over the course of its operations.
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In this Newsletter
ELT Assumes Liabilities at Retired 1600 MW Coal Power Plant
Fixed-Price Environmental Remediation & Demolition
Spring 2018 Conference Calendar
Seeking to Assume Environmental Liabilities
and/or Purchase Brownfield Real Estate
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Currently Seeking to Purchase Retired Assets & Assume Environmental Liabilities in All Sectors
If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a no-cost site assessment.
ELT will consider purchasing real estate assets and assuming environmental liabilities at all price points.
Phone: 314-835-2813
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Fixed-Price Environmental Remediation and Demolition
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 created a program 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.
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.
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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 and Safety Benefits
Pathway to Sustainable Redevelopment
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2018 Conference & Meeting Calendar
Our teams will be participating at multiple industry conferences in 2018. Our spring calendar is listed below. If you are attending any of these events, we would love to hear from you and find a time for introductions.
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March 19-22, 2018
Pittsburgh, PA
April 10-12, 2018
Palm Springs, CA
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April 11-12, 2018
Chicago, IL
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Commercial Development Company, Inc. (CDC), Environmental Liability Transfer, Inc. (ELT), and EnviroAnalytics Group LLC (EAG) comprise one of North America's most impactful 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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Purchase & Develop Real Estate
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Assume 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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