Commercial Liability Partners (CLP), announced the purchase of Dynegy’s retired coal-fired power plant located in East Alton, Illinois.
CLP purchased the facility and property from Dynegy Midwest Generation, LLC, and with the sale of the power station now complete, CLP will focus on executing plans for demolition and environmental remediation at the site with the goal of repurposing the site for future redevelopment.
The Wood River Power Plant included two coal-fueled units that began operations in 1954 and 1964, respectively. The closure of the site was announced in November 2015 and the power station officially ceased operations in mid-2016.
CLP will address the environmental needs of the site, including remediation, groundwater monitoring, abatement, decommissioning and demolition of the facility and surrounding coal ash ponds.
“We are very pleased to announce the purchase of the site to take the appropriate steps to remediate the site and redevelop its potential for the community. We look forward to working with local officials and the Illinois EPA to discuss plans and timelines for environmental remediation, and ultimately the redevelopment potential at the site.Ron Froh, CEO and president of CLP
Commercial Liability Partners is an 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 like Wood River into useful and productive sites. Over the past five years, we have managed cleanup of more than 10 similar properties in Ohio, Pennsylvania, Illinois and West Virginia and similar projects currently underway in Michigan.
Financial terms of the transaction are not being disclosed.