CAPEXEL Completes Completes Acquisition of Seven GenOn Retired Coal Properties

CAPEXEL announced a newly formed entity and affiliate (Trogon Development LLC) has completed a seven-property divestiture with GenOn Holdings, Inc. ("GenOn").

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The transaction gives CAPEXEL ownership of two retired coal generating facilities in Pennsylvania (Elrama and Warren), one in Ohio (Niles) and one in New Jersey (Sayreville), as well as three closed ash landfills in Pennsylvania (Bangor, Beagle and Fern Valley). 

CAPEXEL's founder and CEO, Ron Froh said, "This is a significant portfolio acquisition for CAPEXEL, and we look forward to further developing our relationship with GenOn."

The proceeds will be paid to an escrow account from which funds will be released to CAPEXEL upon the completion of certain milestones including the remediation, abatement and demolition of the former coal generating facilities. The transaction includes pollution liability and insurance policies, as well as indemnities, releases and other contractual protections for CAPEXEL to abide by. 

CAPEXEL has a long history of addressing complex property acquisitions – with a particular focus on brownfield sites and former power plants – and focusing on the development of reuse plans that help create jobs and new tax base for local communities.

Keyos .