DTE Energy completed its sale of the historic Marysville Power Plant to Commercial Development Co., a firm specializing in industrial brownfield work.
The Marysville Power Plant operated from 1922 until 2001, employing as many 250 people at its peak. It was released for decommissioning in 2011. The plant, which sits on a 20-acre site along the St. Clair River, generated about 167 MW of electricity when operations ceased.
DTE announced the preliminary agreement with Commercial Development Co. in December; the deal was finalized Friday.
Financial terms of the deal were not disclosed.
St. Louis, Mo.-based Commercial Development Co. has completed its due diligence and is ready to begin the first phase of the cleanup, starting on the inside of the buildings. The company expects the site will be ready for development in about 18 months.