Environmental Risk Transfer Services Leader to Demolish Existing Power Plants, Close Ash Landfills, Remediate Sites and Redevelop Property in Sustainable Manner
Charah Solutions’ Increasing Environmental Risk Transfer Portfolio proves to be Beneficial for Utility Partners, Shareholders and Local Communities as well as the Environment
LOUISVILLE KY / ACCESSWIRE / April 6, 2020 / Charah Solutions, Inc.(NYSE:CHRA), a leader in environmental services and byproduct recycling for the power generation industry, today announced the completion of the full acquisition of Cheswick Generating Station and Lefever Ash Landfill. GenOnWe will immediately begin environmental remediation, sustainable redevelopment and rehabilitation of the Pennsylvania properties. GenOn signed the asset acquisition agreement in December 2021. The transfer was completed today (April 6, 2022). The electrical generation operations at Cheswick Generating Station ended on March 31, 2022.
Charah Solutions, via three companies connected to its subsidiary, Charah Environmental Redevelopment Group, LLC, has acquired properties from GenOn Holdings, LLC. These properties include:
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The Cheswick Generating Station, a 565-MW coal-fired power plant that was previously operated by GenOn, is located in Springdale, PA. It is just outside of Pittsburgh and near the Allegheny River. The 56-acre site of the primary generating station, which also includes a 27-acre parcel, is composed of an operating rail line and a coal yard. It also has bottom ash emergency and recycle and waste ponds, a waste pond and a coal pile runoff. A coal delivery equipment parcel and an ash handling parcel are also included. CERG will perform all environmental remediation and rehabilitation work at the site, including the decommissioning and remediation the two ash-ponds. The Cheswick Generating Station shutting down will result in a reduction of more that 1.0 million tonnes of CO2 per annum from entering the atmosphere to reduce greenhouse gasses.
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The Lefever Ash Landfill can be found three miles northwest from the Cheswick Generating Station. The 182-acre site (including the 50-acre facility for landfilling) is currently in operation and allows disposal of coal combustion residues (CCR), and residual waste from Cheswick Generating Station. This site is subject to an active solid waste permit. CERG will manage the closure design, remediation work, and monitoring after closure of the landfill.
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The Monarch Wastewater Treatment Facility is located on seven acres in Allegheny County’s Township of Springdale, PA. CERG will manage the facility and ensure compliance with all environmental regulations.
CERG has retained Avison Young as a brokerage, developer, and real estate advisor to manage the redevelopment of this property and future sales. CERG plans on redeveloping the properties in an eco-conscious manner that will boost economic activity and benefit the surrounding areas through job creation, promotion and support for industry and tax base. This will allow the site to be the best use possible for the community moving ahead, while also sustainable remediating the site. The existing power plant will also be demolished. Potential redevelopment uses of the properties include renewable energy, battery storage options that utilize existing transmission systems, re-use the switchyard, transport and logistics that utilize river shipping resources, and other industrial uses.
The Company’s fifth major Environmental Risk Transfer project (ERT) is the acquisition of the Cheswick Generating station, the Lefever Ash Landfill, and the Monarch Wastewater treatment Facility. It is also the second major project with GenOn. The Company announced the acquisition by GenOn of GenOn’s Avon Lake Generating Station, and adjacent property, in June 2021. This acquisition was completed on April 4, 20,22.
Charah Solutions, a leader in environmental remediation services and risk transfer services to power generation industries, offers a proven model for ERT services that delivers exceptional value to utility partners, shareholders and local communities. The Company announced in March 2022 that it had sold 100% of the real estate acreage at the former Gibbons Creek Steam Electric Station (and Reservoir) in Texas. Charah Solutions is currently working on another ERT project at former Consumers Energy B.C. The Cobb Generating Facility’s Ash Ponds are located near Muskegon Lake in Muskegon (MI), which was acquired in April 2020 by the Company. This ERT project includes the complete remediation of the existing Ash Ponds and further advancement of the wetlands along Lake Michigan’s eastern shore. It also includes the beneficial recycling and sustainable repurposing 650,000 cubic yards of ash materials.
Charah Solutions is uniquely positioned to take advantage of its innovative ERT services model to partner other utilities to complete the decommissioning, remediation, and redevelopment for these plant properties over the next 10-15 years.
“This is the end for Cheswick and the retirement this facility reflects changes occurring in our country,” says David Freysinger (GenOn CEO). “We are thrilled that we reached an agreement to work with Charah Solutions. Charah Solutions’ expertise will be brought to bear on the redevelopment of the property for the benefit the community.
Charah Solutions has been a leader in sustainability in utility services for more than 30 years. We are committed to conserving natural resources in an eco-conscious manner through environmental remediation, redevelopment projects like this. Charah Solutions’ core value is sustainability. Charah Solutions focuses on innovative solutions to complex environmental issues in order to improve the planet, the communities where it operates, its customers, as well as its investors. Charah Solutions’ sustainability services reduce greenhouse gas emission, decrease landfill disposal and remediate land for community or business use, conserve natural resource and protect waterways. To learn more about Charah Solutions commitment to sustainable practices, download the 2020 Environmental, Social and Governance report (ESG Report) charah.com/sustainability.
Scott Sewell is Charah Solutions President, CEO and CEO. “Our Environmental Risk Transfer services were designed by Charah Solutions in order to meet the changing and increasingly complex needs our utility partners to lower costs and meet environmental commitments to reduce their carbon footprints.” Charah Solutions provides a unique approach to these complex projects, while also redeveloping properties in an environmentally responsible way that creates economic and environmental benefits for the community.
Charah Solutions, Inc.
Charah Solutions, Inc., a leader in environmental services and byproduct recycle, has more than 30 year’s experience. Charah Solutions, based in Louisville, Kentucky, assists utilities and independent power producers in all aspects of managing and recycling ash byproducts from the combustion of coal for the production of electricity. Charah Solutions provides solutions for ash management and closure, landfill constructions, structural fill projects and power plant remediation. Charah Solutions can solve the most difficult environmental challenges for customers. Charah Solutions also has a reputation for safety and compliance. Charah Solutions is committed in reducing greenhouse gases emissions for a cleaner future. Visit www.charahsolutions.com for more information. https://charah.com/Download our 2020 Environmental, Social and Governance Report (ESG Report) at charah.com/sustainability.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Section 27A of Securities Act of 1933 and Section 21E of Securities Exchange Act of 1934. Forward-looking statements are any statements that, except statements of historical facts and statements about activities, events or developments Charah Solutions anticipates, believes or anticipates will happen in the future. These forward-looking statements can be identified by the use of terms and phrases like “may”, “expect,” estimate,” project,” plan,” believe,” intend,” achieve,” anticipate,” will,” continue,” potential,” could,” should,” and similar terms. These statements are based upon certain assumptions made by Charah Solutions, based on management’s experience and perceptions of historical trends, current circumstances, anticipated future developments, and other factors considered appropriate. These statements are subject to a variety of assumptions, risks, and uncertainties. Many of these factors are beyond Charah Solutions’ control. Actual results may differ materially from those implied by forward-looking statements. For further information about risk factors, please see Charah Solutions Form 10-K for fiscal year ended December 31, 2021 and all periodic reports filed with Securities and Exchange Commission.
Forward-looking statements are made only as of the date they were made. Charah Solutions does not assume any obligation to correct or update any forward looking statement, regardless of whether it is due to new information or future events, except as required under applicable law.
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SOURCE:Charah Solutions, Inc.
