Nov 25 2008
Biofuels Power Corporation (OTCBB:BFLS) announced today that it has agreed to purchase the site, infrastructure and equipment of the decommissioned H.O. Clarke Electric Generating Station in central Houston. The purchase includes 79 acres of land at the intersection of Main St. and Hiram Clarke Road, together with all infrastructure, equipment, buildings and other improvements. The terms of the transaction are undisclosed pending the closing which is anticipated before year-end.
The H.O. Clarke Generating Station was built by Reliant Power in the 1940s and provided a generating capacity of 288 MW before the steam units were decommissioned in the mid-‘80s and replaced by natural gas fired turbines with a combined capacity of 78 MW. The gas-fired turbines were removed in 2004 and the station was decommissioned. The company is presently seeking proposals from salvage buyers for non-essential buildings and other infrastructure located on the site.
The operational infrastructure on the H.O. Clarke site includes 65,000 barrels of above ground storage tanks and a high-pressure natural gas pipeline that is connected to the distribution system. The H.O. Clarke property is adjacent to a 500 MW switchyard operated by Centerpoint and has ready access to the ERCOT grid through a 12 kV transmission line.
“Our long-term goal is to redevelop the H.O. Clarke site as a clean energy industrial park that will use biofuels, biomass, natural gas, biogas and solar energy to provide green electricity and combined heat, power and refrigeration services for industrial and commercial tenants that need ready access to central Houston, the Houston Ship Channel and the Interstate Highway system,” said Fred O’Connor, President and CEO of Biofuels Power.
“While our planning is still in the preliminary stages, we believe the location and infrastructure of the H.O. Clarke facility give us a unique opportunity for large-scale industrial redevelopment in a world-class Houston location,” Mr. O’Connor continued. “We already have two plants in nearby Montgomery County that run on 100% biodiesel and generate 15 MW of green electricity that we sell to ERCOT and Entergy. We believe our planned Houston Clean Energy Park will become a model for clean industrial redevelopment nationwide,” Mr. O’Connor concluded.