February 10, 2012 at 5:59 pm #1945
Rockland Affiliate to Acquire Eagle Point Power Generation From Sunoco
Rockland announces acquisition of 225 MW natural gas-fired power facility
Houston, TX (PRWEB) Sun., February 05, 2012 Rockland Capital (“Rockland”) announced today that an affiliate company is acquiring the Eagle Point power generation facility (“Eagle Point”) from Sunoco, Inc. Financial terms of the transaction were not disclosed.
Eagle Point, a nameplate 225 MW natural gas-fired power facility located in Westville, New Jersey, began commercial operation in 1991 as a cogeneration facility providing steam to the adjacent Eagle Point refinery. The plant has operated principally in a combined cycle mode since October 2009 when the refinery ceased operations, and currently sells capacity and energy into the PJM market.
“Eagle Point presents an opportunity for Rockland to implement an ambitious commercial agenda at a clean, natural gas-fired facility located in the highly favorable EMAAC region of PJM,” said Jim Maiz, Partner of Rockland Capital. “Rockland’s expertise in realizing operational improvements and navigating energy markets will allow us to unlock the full value of the asset.”
Eagle Point is an investment of Rockland Power Partners, the private equity fund currently being invested by Rockland.
About Rockland Capital
Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners and Rockland Capital Energy Investments and has offices in Houston and New York.
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February 10, 2012 at 5:59 pm #4713
Here is update on Sunoco Eagle Point 225MW Nat Gas Power/Steram facility that has now been acquired by Rockland. One domino’s of East Coast Refinery closures – looks be good buy for Rockland (especially with Refinery down since 2009) ….. or anyone wanting gather up brownfield power assets with potential link future revamped/purchased refinery asset and merchant power for power company not in area to trade off.
March 11, 2012 at 6:39 pm #4696
Sunoco Eagle Point Refinery Begins Asbestos Removal & Dismantling
By Gina Bittner, Glouchester County Times February 26, 2012
WEST DEPTFORD TWP. Asbestos removal has begun at the Sunoco Eagle Point Refinery, signaling the beginning of an $11.5 million partial dismantling process.
In two phases, Sunoco will remove 22 pieces of processing equipment from the Crown Point Road site within the next 18 to 30 months.
Eagle Point may not be a working refinery any longer, but its still an important part of our business, Sunoco Communications Specialist Joe McGinn said. Its an operating and growing fuel terminal that we continue to invest money in. Right now, there are nearly 200 people (employees and contractors) working to upgrade the infrastructure so it can be a world-class terminal where we can store and supply fuel to the East Coast. Were installing new pipes, expanding docks, upgrading our ability to unload rail cars, and expanding storage for refined products.
In order to complete the process, Sunoco had to apply for two permits: asbestos removal and demolition.
According to township Administrator Eric Campo and Public Works Director Phil Zimm, no buildings will be removed from the property. Additionally, the dismantling will not disturb any ground or foundation.
Its just the processing equipment used in the refining operation, Campo said. While that is a large operation, there will still be all of the tanks and foundations and other buildings that are on that property.
NCM a Westville based demolition and remediation firm has been contracted by Sunoco to dismantle and salvage the processing equipment, a matter which required township approval. McGinn said it also required state approval; however, a New Jersey Department of Environmental Protection (NJDEP) spokesman said Sunoco required no permits from them to dismantle equipment.
They have been and will continue to work with DEP on contamination cleanup-related issues, Lawrence Hajna said.
First, NCM will remove all asbestos-containing thermal system insulation (TSI) from horizontal tanks and vessels, and from vertical towers and tanks up to 30 feet above ground level. Also, any asbestos-containing TSI from all areas and up to about 30 feet above ground on all towers, all transite panels from buildings, and other asbestos that may be found. Zimm said a licensed New Jersey certified asbestos contractor would be present at all times during this phase.
The next phase will begin only after all asbestos-contaminated material is gone.
The project is ongoing, and NCM expects to complete the work by April 2014, said McGinn. Dismantling the equipment potentially paves the way for future remediation and reuse of the former processing area of the site.
Before Sunoco filed the permits, Zimm and township police Chief Craig Mangano sat down with NCM.
We need to have answers for the people, Zimm said of his desire to discuss exactly what was happening at the site.
Additionally, NCM sent a letter to all adjoining properties surrounding Eagle Point, notifying them of the construction.
As far as activity on the site, Zimm said the worst case scenario would be 10 trucks per day on the site, but that wont always be the case.
Following completion of both phases, Zimm will be asked to inspect and approve the project.
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