FirstEnergy to sell portion of former Hatfield's Ferry power plant
The sale is expected to close in third quarter 2018, subject to various closing conditions.
FirstEnergy Corp. said its Allegheny Energy Supply Co. unit has entered into an agreement for sale of a portion of the real property and certain assets at the former Hatfield's Ferry Power Station in Masontown, Pa. to APV Renaissance Partners Opco, LLC, of Bernardsville, New Jersey.
APV has commenced engineering and permitting activities related to the proposed construction of a new, 1,000 MW 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 about $40 million.
Allegheny Energy Supply will continue to own the remaining Hatfield plant facilities, including about 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."