Final Chimney Imploded at Retired Coal-Fired Power Plant Brayton Point
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Demolition at Brayton Point continued last month with the implosion of the power plant's last remaining chimney. As one the largest demolition projects in the Northeast US, the implosion represents the last remaining significant visual reference to the old power plant landscape.
It also signifies the beginning of new operations at Brayton Point Commerce Center’s marine commerce terminal, which is now operational as part of the Mount Hope Bay Designated Port Area (DPA). Outside the greater Boston area, Brayton Point represents the only deep-water, dry bulk & large project port with a significant laydown area in Massachusetts.
In January 2018, ELT assumed environmental liabilities and decommissioning obligations at this 1600-MW retired power plant - our involvement jumpstarted remediation, demolition, and extensive redevelopment planning. Today ELT and affiliate CDC are transforming the site into a large-scale industrial development and logistical port to support a multiple sectors including offshore wind energy.
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Brownfield Update
Former Brayton Point Power Station, Somerset, MA
ELT Commentary
A Not So New Path for Superfund Sites
ELT Spring Conference Calendar
ELT Acquisition Criteria
Seeking Environmental Liabilities & RE Assets in All Sectors
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Robust Indemnification and Environmental Guarantees Found Nowhere Else in the Market
ELT has successfully assumed nearly $2 billion USD in corporate environmental liabilities for clients - and has never defaulted on an obligation or given a site back to the seller/PRP. Additionally, over 90% of ELT’s assumed liabilities have achieved final environmental milestones or are in the last stages of regulatory closure. This experience is critical when choosing a partner for environmental liability management.
If you have an industrial asset or environmental liability you would like considered by ELT, please contact us today for a confidential and no-cost value proposition.
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ELT Commentary -- A Not So New Path for Superfund Sites
by Colleen Kokas, Exec VP at ELT.
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In late February, EPA Administrator Andrew Wheeler provided testimony in a congressional subcommittee hearing on EPA’s 2021 draft budget. Administrator Wheeler reported that EPA was relying on its enforcement authorities to supplement the funds dedicated to remediating Superfund sites. The public reaction from some was that this was a new tact that EPA was taking as a result of the Administration proposing a smaller 2021 budget of $1.056B (down from $1.185B in 2020). However, strong enforcement against polluting parties in not new in the Superfund program.
EPA has had a long history of the “Polluter Pays.” That strategy has made sense due to the limited public resources to address contaminated sites -- focusing those resources on sites without viable Potential Responsible Parties. Those funds could be committed to EPA through a PRP entering into a Settlement Agreement, an Administrative Order on Consent or through a successful cost recovery action. All of which are effective in reducing the burden on tapping into federal funds.
The polluter pays concept is replicated in a good environmental liability transfer deal. ELT works with PRPs regularly to have them establish remediation trust funds that will cover the cost of the remediation—allowing Superfund and other federal and state funds to be obligated for orphaned sites.
For more information on how ELT can purchase Superfund Sites and indemnify Superfund PRPs, or to learn more about this topic, please contact Colleen Kokas at 215-630-0482 /
ckokas@ELTransfer.com.
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Colleen Kokas
Executive Vice President
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Spring 2020 Conference Calendar
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ELT will be attending the following conferences this spring - presenting ELT strategies and how to create win-win scenarios for environmentally-impacted real estate. If you will be attending these events, please let us know ahead of time so we can connect!
State College, PA
March 9-11, 2020
Washington, DC
April 1-2, 2020
Scottsdale, AZ
April 19-22, 2020
San Diego, CA
April 20-21, 2020
Chicago, IL
April 22-24, 2020
Trenton, NJ
May 5, 2020
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ACQUISITION CRITERIA
Seeking
Industrial Real Estate Assets and/or
Environmental Liabilities
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If distressed real estate is impacting your operations, transactions, or balance sheet, please contact us for a confidential discussion. ELT's core offering includes:
- Environmental Liability Transfers
- Brownfield Real Estate Purchase
- Liability Transfer + RE Purchase
- Guaranteed Cost Certainty
- Corporate Indemnification
- Maximum Value for Retired Assets
- Transfer of Regulatory Obligations
- Transfer of Post-Closure Obligations
- Sustainable Redevelopment Planning
- Sale / Leaseback Options
- Preservation of Legacy & Brand
Phone: 314-835-2813
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Environmental Liability Transfer, Inc. (ELT), along with four distinct affiliate companies under common ownership, have become one of the most impactful brownfield redevelopment and environmental remediation and consulting firms in North America.
By leveraging the core competencies of its affiliate partners, ELT now has the ability to consolidate multiple elements of brownfield redevelopment into ONE comprehensive value proposition - Real Estate Purchase, Environmental Liability Assumption, Fixed Price Environmental Remediation, Demolition, and Liquidation Services.
For more information on ELT or our affiliates, please visit our websites (right) or download ELT's
Brownfields Brochure
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For more information about anything in this newsletter or to schedule a confidential discussion regarding your environmental liabilities or brownfield properties, please contact us.
John Kowalik
Phone: (314) 835-2813
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