A privately-held real estate investor based in Missouri believes that the waterfront site of a former coal-fired thermal power station (TPP) in Massachusetts could be redeveloped to become an offshore wind port.
Commercial Development Company Inc (CDC) said in a statement this week that it has a contract to buy the retired 1.6-GW Brayton Point Power Station from Dynegy Inc (NYSE:DYN). CDC has agreed to assume responsibility for legacy environmental liabilities associated with the site. The company said it intends to invest significant resources to reposition the facility and come up with a market-ready plan to transform the 307-acre (124 ha) site for post-coal utilisation.
According to CDC, the site at Brayton Point could be “a unique opportunity” for the offshore wind sector. Advantages include the fact that it already has access to the regional transmission grid and that it is located in close proximity to proposed offshore wind tracts.
The Massachusetts Clean Energy Center has recently identified Brayton Point as a potential site for the development of an industrial port that would serve the wind industry, CDC noted, adding that it will start a global marketing campaign to find appropriate end users.
“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.
The transaction between Dynegy and CDC is expected to be completed by mid-December. After this is done, the buyer will commence the repositioning process, which would include asbestos abatement, environmental remediation and restoration, and demolition of most of the existing coal-related infrastructure.
The Brayton Point Power Station was commissioned in 1963 and operated up until May 2017, when it was decommissioned. Its four units have been using coal, natural gas and oil to produce energy over the course of its operations.
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