Commercial Liability Partners Purchases Two Retired Coal-Fired Power Plants in Northeast Texas

 Commercial Liability Partners (CLP) announced the purchase of the Monticello Power Plant and the Big Brown Power Plant, two retired coal-fired power plants in Titus County and Freestone County, Texas. CLP purchased the plants from Luminant and with the acquisition complete, will begin the process of demolishing and remediating the existing infrastructure with a goal of preparing the sites for future redevelopment.

“We are excited to announce the acquisition of the two retired coal facilities in Mt. Pleasant and Fairfield and pleased to continue our partnership with Luminant,” said Ron Froh, CEO and president of CLP. “Today’s announcement is the first step in a multiyear process that will focus on remediation of the sites. As we begin demolition, we will work closely with state and local officials, as well as community stakeholders, to begin to develop plans for potential long-term use at the sites.”

CLP will address the environmental needs at the sites, including remediation, groundwater monitoring, abatement, decommissioning and demolition of the facilities.

The Monticello site, completed in 1978, was a three-unit power plant located in Titus County. The two-unit Big Brown Power Plant opened in 1971 northeast of Fairfield. Both sites were retired in early 2018.

Commercial Liability Partners, headquartered in St. Louis, is the industry leader in redeveloping underused, challenged and unique properties. They have a strong track record of working effectively with local and regional economic development professionals to transform closed power plants into useful and productive sites. Over the past five years, the company has managed cleanup of more than 10 similar properties in Ohio, Pennsylvania, Illinois and West Virginia and has similar projects underway in Michigan.

Financial terms of the transaction are not being disclosed.