PSEG Power sells retired coal sites to Hilco Redevelopment Partners
PSEG Power, a subsidiary of Public Service Enterprise Group (PSEG), announced Wednesday that it has sold two retired coal plant sites to Hilco Redevelopment Partners (HRP), an operating company within Hilco Global.
PSEG sold its retired Hudson Generating Station in Jersey City and its Secaucus and Mercer Generating Station in Hamilton Township. Both plants were built in the 1960s and retired in June 2017.
PSEG chose HRP after reviewing more than two dozen proposals based on the company’s environmental track record and experience with complex redevelopment projects, including retired coal plant sites. HRP plans to redevelop the sites as warehouse distribution hubs.
“We hope these sites will continue to be productive assets for the communities that hosted the plants for decades,” John Paul Cowan, senior vice president of operations for PSEG Fossil, said. “That’s why we sought out a buyer that understands the strategic value of both locations and will leverage the great labor pool in the surrounding areas. Hilco Redevelopment Partners has a track record of success taking on both the remediation of these types of industrial facilities and, most importantly, redeveloping them into economic engines for the people who live in and around the sites.”
