Commercial Liability Partners (CLP) purchased the the Monticello Power Plant and the Big Brown Power Plant, two retired coal-fired power plants in Titus County and Freestone County, Texas
CLP purchased the plants from Luminant and with the acquisition complete, will begin the process of demolishing and remediating the existing infrastructure with a goal of preparing the sites for future redevelopment. Financial terms of the transaction are not being disclosed.
“We are excited to announce the acquisition of the two retired coal facilities in Mt. Pleasant and Fairfield and pleased to continue our partnership with Luminant. Today’s announcement is the first step in a multiyear process that will ultimately focus on redevelopment of the sites and the two communities. “Ron Froh, CEO and President of CLP
As they begin demolition, CLP said they will work closely with state and local officials, as well as community stakeholders, to begin to develop plans for potential long-term use at the sites.
CLP will address the environmental needs at the sites, including remediation, groundwater monitoring, abatement, decommissioning and demolition of the facilities.
The Monticello site, completed in 1978, was a three-unit power plant located in Titus County. The two-unit Big Brown Power Plant opened in 1971 northeast of Fairfield. Both sites were retired in early 2018.
Commercial Liability Partners, is the industry leader in redeveloping underused, challenged and unique properties. We have a strong track record of working effectively with local and regional economic development professionals to transform closed power plants into useful and productive sites. Over the past five years it has managed cleanup of more than 10 similar properties in Ohio, Pennsylvania and West Virginia and has similar projects underway in Michigan.