Charah Solutions Aquires Avon Lake Generating Station from GenOn
This acquisition is for sustainable environmental remediation and redevelopment of the property, which will include Environmental Risk Transfer (ERT) services to demolish the existing power plant, remediate the site, and redevelop the property in a sustainable manner. The transaction was signed in May 2021, and the full transfer will take place in early April 2022 after the plant ceases generation operation. As part of this agreement, Charah Solutions, Inc.'s subsidiary, Avon Lake Environmental Redevelopment Group, LLC (ALERG"), will acquire the 40-acre area located on Lake Erie as well as the interconnection agreement. Working with the City of Avon Lake, ALERG will position the property to expand economic activity and benefit the surrounding communities through job creation and enable this site to provide the best potential use for the community and City of Avon Lake moving forward. For more details, please see the press release by clicking HERE.