Piney Creek coal-fired power plant to be liquidated

Source:Stuart B. Millner & Associates

Asset management company Stuart B. Millner & Associates to liquidate the assets from the 32 MW, waste coal-and-biomass fueled Piney Creek Power Plant in Clarion, PA.

Stuart B. Millner & Associates (SBMA)--an asset management company--recently signed a contract with Piney Creek Limited Partnership to liquidate the assets from the waste coal-and-biomass fueled Piney Creek Power Plant in Clarion, PA. The facility originally cost approximately $182 million to build in 1991, and has undergone numerous expensive renovations since.

The Piney Creek Power Plant--a 32 MW (net) generating plant that utilized waste bituminous coal as its primary fuel source--shut down in 2013. According to SBMA officials, the assets are "state of the art," and could prove to be a great opportunity for buyers in need of meeting mandatory percentages of renewable energy. Indeed, many of the assets are very new. For example, the biomass system was just installed in 2012.

How the Assets Will Be Sold

The assets will be sold through multiple auction events. The first will be hosted online at Bidspotter, an international online auction platform. This auction will include the new biomass system, as well as a valuable boiler, a coal crusher and three transformers. Bidding is scheduled to close on January 22. More auction events for the power plant will follow.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs