Duke Energy and two other owners of a former power plant have sold the property to a developer with plans to repurpose the site.
Commercial Liability Partners has purchased the retired Walter C. Beckjord coal-fired power plant in Clermont County from Duke, American Electric Power and Dayton Power & Light.
CLP plans to redevelop the site after taking environmental precautions including groundwater monitoring, abatement, decommissioning and demolition of the power plant and more in cooperation with the Ohio Environmental Protection Agency.
Financial terms of the transaction weren’t disclosed.
“Today’s announcement is an important milestone in the ongoing process to decommission the retired units at the Beckjord site and the ultimate removal of the power plant’s footprint to ground level,” Ron Froh, CEO and president of CLP, said in a statement.
“This is an important step in bringing new life and economic development potential to the site and the region. We look forward to working under the direction of the OEPA, and in partnership with local officials, to determine final environmental plans for the site.”
The Beckjord plant was retired in 2014 after more than 60 years of service due to the significant cost of upgrades required to comply with environmental regulations.
“Beckjord Station powered our region and played a vital role in the county’s economy for countless families and businesses,” Duke Energy Ohio and Kentucky president Jim Henning said in a statement. “We’ve pursued an outcome that will advance the county’s priorities with regard to safeguarding the environment and revitalizing the property and we’re pleased that this historic property is poised for a second act as an integral part of our community.”
Duke Energy will continue to own and operate the transmission substation and switchyard near the former plant, while Duke Energy Renewables will own and operate two battery storage units on site.
Duke Energy also plans to donate $750,000 over the next three years to Connect Clermont, a nonprofit organization designed to implement countywide priorities, to help facilitate future economic development opportunities in the area.