Commercial Development Company, Inc. (CDC) | PRESS RELEASE
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PRESS RELEASE

PRESS RELEASE

08:59 20 November in Press Release
 

NOVEMBER 20, 2019

 

CDC & ELT Announce Purchase of Meredosia Power Station, Plans Demolition and Environmental Remediation

 

 

Meredosia, IL – Environmental Liability Transfer, Inc. (ELT) today announced the acquisition of the retired Meredosia Power Station from Ameren Energy Medina Valley Cogen, LLC, a wholly-owned subsidiary of Ameren Corporation.

The transaction included the acquisition of real estate assets and the assumption of legacy environmental liabilities associated with the site. ELT will now oversee the plant’s decommissioning, demolition, environmental remediation, and site redevelopment going forward.

The retired Meredosia Power Station is located in Meredosia, Illinois along the east bank of the Illinois River. The plant began operations in the 1940’s and operated four turbine units that generated 354 megawatts of electricity to over 300,000 homes and businesses in Morgan County and surrounding areas. The power plant was shut down in 2011.

ELT affiliate EnviroAnalytics Group LLC (EAG) is currently working with the Illinois Environmental Protection Agency (IEPA) to properly manage and resolve environmental impact and reposition the 75-acre site for post-coal utilization. Initial activity is expected to include permitting, asbestos abatement, removal of universal waste, environmental remediation and restoration, liquidation of surplus machinery & equipment, and demolition of most of the infrastructure on site. The substation and access to the power grid will remain intact and available for use by future occupants. The expected timeline for completion is 2 years, at which point the site will be marketed for reuse.

Redevelopment planning and marketing of the site will be managed by Commercial Development Company, Inc (CDC), a corporate affiliate of ELT. Throughout the remediation & demolition process, CDC will be evaluating the market and meeting with local economic development leaders to find end users who could benefit from the site’s attractive features, which include 800 feet of mooring cells and an offloading facility with conveyor on the Illinois River, a Norfolk Southern rail spur, and access to high-voltage, bulk electrical power from Ameren Illinois. Additionally, the site location accommodates truck access to Interstate 55 (north-south) and IL Route 67 and Interstate 72 (east-west).

 

Surplus Equipment Liquidation

Industrial Asset Recovery Group (IARG), a corporate affiliate of ELT, will be liquidating the remaining equipment and machinery at the former power plant. Surplus equipment remaining includes transformers, electric motors, pumps, rolling stock, turbine generators, valves, and other plant support equipment. Interested parties can contact Stuart Millner at 314-835-2813 or smillner@industrial-recovery.com.

 

Experience in Coal Power Plant Retirement

Since 2014, ELT has purchased retired power plants from energy companies such as Dynegy, AEP, DTE Energy, Alliant Energy, Indiana Michigan Power, and others. With the addition of the Meredosia Power Station, ELT’s accumulative power plant portfolio represents over 3600-MW of retired generation capacity. ELT’s power plant retirement program is designed for energy companies and other potentially responsible parties seeking fair market value for retired energy assets and a cost-controlled solution for managing environmental and decommissioning liabilities.

 

About Environmental Liability Transfer, Inc.

Environmental Liability Transfer, Inc., (ELT), an affiliate company of Commercial Development Company, Inc., is a comprehensive, environmental liability assumption company providing its clients complete and final environmental liability transference services.  ELT has successfully assumed and abated nearly $2 billion in corporate environmental liability throughout North America. For more information, visit www.eltransfer.com.

 

About Commercial Development Company, Inc.

Commercial Development Company, Inc. (CDC) is a privately-held, diversified real estate acquisition and development firm whose principal competency lies within the acquisition, repositioning, and redevelopment of underutilized, distressed or environmentally-challenged properties. CDC has purchased and developed over 50-million-square feet under roof located on over 300 sites throughout the United States and Canada. For more information, visit www.cdcco.com.

 

Media Contacts:

If you would like more information about this project or Commercial Development Company, Inc., please contact John Kowalik (314) 835-2813; jkowalik@cdcco.com.

 

 

Media Relations

 

John Kowalik
Director of Marketing
314-835-2813
jkowalik@cdcco.com