PSEG Power, a subsidiary of Public Service Enterprise Group (PSEG), announced the sale of the sites of its retired Hudson Generating Station in Jersey City/Secaucus and Mercer Generating Station in Hamilton Township to Hilco Redevelopment Partners (HRP), an operating company within Hilco Global. Both coal-burning power plants were built in the 1960s and retired in June 2017. Last year, the company set the goal of eliminating 13 million metric tons of CO2 equivalent emissions by 2030 from 2005 levels.
After reviewing more than two dozen proposals, PSEG selected Chicago-headquartered HRP based on their strong environmental track record and demonstrated success in managing complex redevelopment projects, including retired coal plants.
HRP also recently acquired retired coal power facilities from Exelon in Boston and NRG in Chicago. HRP has several current transactions and on-going development projects underway, including the following:
HRP purchased the 3,100-acre former home of Bethlehem Steel in Baltimore. Beginning in 2012, HRP demolished and continues to remediate the site while redeveloping it into the largest tri-modal logistics hub on the eastern seaboard of the U.S.
HRP purchased the former Boston Power Generating Station owned by Exelon Corp. HRP is in the process of permitting the site into a multi-phase dynamic mixed-use redevelopment, including residential, hotel, office and retail components.
In 2017, HRP purchased the decommissioned Crawford Generating Station in Chicago from NRG with a vision to redevelop it into a 1 million square foot state-of-the-art warehouse and distribution center. Vacant since 2012, the site was rebranded in 2018 as âExchange 55.â? The project is scheduled to be complete in early 2020.