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Port Agreement inked for Brayton Point

The Commercial Development Company, Inc. (CDC) on behalf of its affiliate Brayton Point LLC, the owner/developer of the Brayton Point Commerce Center, has signed a port operations and lease agreement with Patriot Stevedoring + Logistics LLC (Patriot). CDC is in the process of transforming the former coal-fired power plant site into a logistics port, manufacturing hub and support centre for the offshore wind energy sector.

With this agreement, Patriot will now manage operations of the marine commerce terminal and create a regional logistics port with global distribution capabilities. The company is a joint venture between Carver Stevedoring Services, Inc. and Pangaea Logistics Solutions Ltd for the purposes of managing the port operations at Brayton Point Terminal. It offers a 34-ft deep water port which was once used to import coal. It will now be used for bulk cargo, heavy lift cargoes, and building materials for the offshore wind energy sector.

Brayton Point LLC purchased the 308-acre property in January 2018, with the aim to reposition as a hub for offshore wind. CDC is a privately-held, diversified real estate acquisition and development firm whose principal competency lies within the acquisition, repositioning, and redevelopment of underutilised, distressed or environmentally challenged properties. Brayton Point was the largest coal-fired generating station in New England, and was the last coal-fired power station in Massachusetts to provide power to the regional grid. Construction of the cooling towers began in 2009 and the plant ceased power generation on 1st June 2017.

Stephen Collins, Executive Vice President at CDC commented: “This port operations agreement is another step in the transition of Brayton Point into one of the premier marine commerce terminals in the Northeast – the site is well positioned to support offshore wind, but the possibilities for other sectors are available as well.”

CDC claim that site’s close proximity to offshore wind energy tracts in the Atlantic Ocean (37 nautical miles), means it its is uniquely suited to serve the offshore wind energy sector. Although offshore wind in Massachusetts won’t go online until 2023, the Brayton Point Commerce Center is expected to be operations-ready in 2020. Demolition works kicked off in September 2018 and, with the controlled implosion of the cooling towers completed, site grading and preparation works for new development will follow in the summer.

Neil McLaughlin and Stephen Kelly, Co-Vice President of Patriot Stevedoring and Logistics, LLC cpmmented: "Jointly, the goal of Carver and Pangaea here at the Brayton Point Commerce Center, through Patriot Stevedoring + Logistics, is to link Pangaea’s international ocean freight network with Carver’s proven shore-side port logistics. In doing so, we will bring the shippers, receivers, and project groups, from around the world, here to the doorstep of New England through the port of Brayton Point. We are extremely excited about this opportunity and the opportunity to generate economic growth here in Somerset, Massachusetts and beyond.”

CDC recently signed an agreement with Anbaric to launch the Anbaric Renewable Energy Center at the CDCs Brayton Point Commerce Center in Somerset, Massachusetts. The site is to host a 1,200-megawatt (MW) high-voltage direct current (HVDC) converter – an investment estimated at $250 million which aims to serve the offshore wind industry. In addition, Anbaric will commence development of 400 MW of battery storage on site, which would bring an additional $400 million in investment.  

For more information on offshore wind developments in the US, click here. You can also view projects worldwide, using 4C Offshores interactive map.

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