FirstEnergy Corp. has agreed to sell a portion of property and certain assets in the former Hatfield's Ferry power station to APV Renaissance Partners Opco LLC.
APV Renaissance Partners has started engineering and permitting activities related to the construction of a new 1,000-MW combined-cycle natural gas facility on 33 acres of land at the former plant site in Masontown, Pa., according to an April 5 news release.
If the project proceeds, APV Renaissance Partners would acquire the site, including the plant's two cooling towers, for approximately $40 million. FirstEnergy subsidiary Allegheny Energy Supply Co. LLC will continue to own the remaining Hatfield plant facilities which include approximately 200 acres of land and the other former projects.
"FirstEnergy supports new development opportunities at our former plant sites," said James Lash, executive vice president and president of FirstEnergy Generation. "The project at Hatfield has the potential to bring jobs and economic growth to Greene County by capitalizing on a strategic location and existing infrastructure."
Subject to certain closing conditions, the transaction is expected to be closed in the third quarter of 2018.
APV Renaissance Partners is a subsidiary of American Power Ventures LLC.