New Deal Signals prospects for Philadelphia Renewables Plant

The future is rapidly shifting towards renewables. While the world plans a massive shift away from fossil fuels, a renewable energy plant in Philadelphia is receiving a second opportunity to reopen. The window comes after a prolonged court battle that rendered the plant bankrupt. In a recent court proceeding concerning the plant, the judge provided a deal paving the way for the founders to reopen the plant
Renewables producing company Hilco will be in negotiations with Point Breeze Renewable Energy over its 23acre site that has become the bone of contention for the two firms. According to Point Breeze, the land in question is part of a contracted lease to build a biogas plant. The biogas plant was an estimated $120million project that would open new ventures for the Philadelphia based energy company. However, during a court ruling, the judge hearing the case proposed the two parties to chart out an agreement for the site in question. The ruling provides Hilco redevelopment Partners grounds to finish the acquisition of the 23acre piece of land that was initially Philadelphia energy solutions. Read More