Wednesday, April 5, 2017

FirstEnergy Sells Part Of Former Hatfield Power Plant To Natural Gas Power Developer

FirstEnergy Corp. Wednesday announced its Allegheny Energy Supply Company, LLC subsidiary has entered into an agreement for sale of a portion of the former Hatfield's Ferry Power Station in Masontown, Fayette County to APV Renaissance Partners Opco, LLC, of Bernardsville, New Jersey, a natural gas power developer.
Hatfield Station is a formerly coal-fired power plant.
APV has started engineering and permitting activities related to the proposed construction of a new, 1,000-megawatt combined cycle natural gas facility on 33 acres at the former plant site.  
If the project proceeds, APV would acquire the project site, including the plant's two cooling towers, for approximately $40 million.  
Allegheny Energy Supply will continue to own the remaining Hatfield plant facilities, including approximately 200 acres of land and the other former plant structures.  The sale is expected to close in third quarter 2018, subject to various closing conditions.
"FirstEnergy supports new development opportunities at our former plant sites," said James H. Lash, executive vice president and president of FirstEnergy Generation. "The project at Hatfield has the potential to bring jobs and economic growth to Greene County by capitalizing on a strategic location and existing infrastructure."
"APV is excited to undertake a project to support the reliability of the region's electricity supply, redevelop an existing industrial site and contribute to economic growth in southwestern Pennsylvania," said John Seker, president of APV.  "The existing infrastructure available at Hatfield's Ferry and abundant fuel supply in the region make this an ideal location for the construction of a natural gas power plant."
FirstEnergy Sells Part Of Former Hatfield Power Plant To Gas Developer

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