Case Study – 35 MW Coal-Fired Power Plants – Lumberton, NC
- A New York private equity fund acquired a portfolio of coal plants from the Enron bankruptcy.
- The Lumberton site was not put back into use.
- Forsite acquired the plant and provided the seller with a comprehensive environmental liability risk transfer solution.
- This included a NC Brownfield agreement and an environmental insurance policy covering known and unknown conditions including off-site generator liability.
- All other interested parties viewed the site as strictly a demolition play. Forsite was able to identify a biomass developer and subsequently sold the facility which is currently undergoing a $40mm renovation and will be fueled with 100% biomass.
March 14th, 2016
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