pes refinery philadelphia
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pes refinery philadelphia

pes refinery philadelphia


“Liquidation of the refinery facility would have potential negative consequences both under bankruptcy law and under other environmental laws,” the agency said.

Ethanol producers, who sell the renewable credits, had objected in the first bankruptcy that allowing PES off the hook would undermine the Renewable Fuel Standard, which is aimed at bolstering the biofuels industry. “But we’re demanding that Hilco is 1000% invested with us in this process.”. Sign up for our weekly newsletter. Develop green infrastructure on the portions of the site that are in the floodplain. PES selected Hilco as the winner with a $240 million bid, and the sale was approved by U.S. Bankruptcy Judge Kevin Gross on Feb. 13. © 2020 The Philadelphia Inquirer, LLC Terms of Use/Privacy Policy, The U.S. Bankruptcy Court has approved a settlement allowing Philadelphia Energy Solutions to pay only a small portion of its renewable fuel obligations.

A rebroadcast of the morning show. A thought provoking, engaging and timely show that tackles wide ranging issues of concern to listeners in the Delaware Valley, the nation and beyond. PlanPhilly will create 18,000 jobs in the next 10 years, released more than 5,000 pounds of one of the most dangerous industrial chemicals in use, approved by U.S. Bankruptcy Judge Kevin Gross, WHYY thanks our sponsors — become a WHYY sponsor. Our goal is to jump start a robust public conversation about how Philadelphia can best integrate the site into the city over the next century”.

Pete DeCarlo, an air-quality expert and former Drexel professor now with Johns Hopkins University, said the sale of the refinery will finally begin a long process of undoing 150 years of environmental damage caused in South Philadelphia by oil refining activities.

“We’ve been waiting for this for a long time,” Philly Thrive’s Jendaiya Hill said of the refinery’s sale to Hilco.

So the $10 million that PES is obligated to pay under the settlement is a steep discount to the cost it could have faced. Having a new owner who takes a long view on improvements to the site and on the possibilities for many potential reuses lets us be a city of what’s next rather of what was,” said Mark Allan Hughes, director of the University of Pennsylvania’s Kleinman Center for Energy Policy and head of the city Refinery Advisory Group’s environmental committee.
Hilco’s redevelopment plans call for a new logistics warehousing hub to be built on the site, though few specifics have been released publicly. Drexel University’s
Location: Location: Philadelphia, PA. Campbell had a well-paying union job he thought he was going to do until he retired. Philadelphia Energy Solutions refinery in South Philadelphia. Here’s what we know about the developer buying it. “Cleanup and responsible stewardship of the refinery facility by a reorganized debtor would have been lost, which would have had threatened negative consequences for the environment and surrounding community.”.

The U.S. Bankruptcy Court on Wednesday approved a settlement allowing Philadelphia Energy Solutions to pay a small portion of the millions of dollars it owes in unpaid renewable energy obligations, clearing a major obstacle facing the bankrupt South Philadelphia refinery’s reorganization. Under the refinery’s reorganization plan, the 1,300-acre property will be sold for $252 million to Hilco Redevelopment Partners of Chicago. City Council approved a bill extending those taxes on Thursday, with just one dissenting vote. The closing of that sale, originally scheduled to occur by May 31, has been delayed in part because of logistical challenges caused by the pandemic, according to sources.

If PES were forced to liquidate rather than go through an orderly reorganization and sale, cleanup plans for the site could be imperiled, it said. Under a previous agreement, the EPA had capped its claim at $35 million. I look forward to working with community stakeholders for a bright new future for the property,”  City Councilmember Kenyatta Johnson, whose district includes the property, said in a statement. Preliminary results show elevated levels of the so-called “forever chemicals” PFOS and PFOA near the installation in Delaware. The EPA, in a court filing Monday, said it agreed to the settlement rather than insisting on full payment in order to avoid scuttling the refinery’s reorganization. Business news and analysis sent straight to your inbox every Tuesday morning. PES Refinery Philadelphia Energy Solutions, the largest and oldest oil refinery on the East Coast, announced it would shut down after a fire in June 2019. Here’s what we know about the developer buying it. Lindy Institute for Urban Innovation and  In the interview with WHYY, Hilco’s Perez committed again to working with the community and hiring local workforce to redevelop the site. RNG in August entered into a “mutual cooperation agreement” with Philadelphia Energy Industries, a company formed by former refinery chief executive Philip Rinaldi to bid on the bankrupt refinery. Sale of the refinery complex ends an important piece of the lengthy and complicated restructuring process that started last July 21, when PES filed for Chapter 11 bankruptcy for the second time in two years.

The decision represents an estimated $2.2 billion investment for the central Delaware waterfront and overtook a Sixers arena proposal.

$(document).ready(function () { For a better experience, click the icon above to turn off Compatibility Mode, which is only for viewing older websites. Retail gasoline typically contains about 10% ethanol. The 1,400 acre PES refinery site on Philadelphia’s Lower Schuylkill River was purchased by Hilco Redevelopment Partners earlier this year after a fire and explosion in the summer of 2019 caused PES to declare bankruptcy. .

“The action creates jobs, ensures the future commercial viability of the site, and decreases the former refinery’s environmental impact,” Kenney said in a statement. Chicago-based Hilco Redevelopment Partners is now officially the owner of the former Philadelphia Energy Solutions refinery complex in Southwest Philadelphia. On June 21, 2019, part of the Philadelphia Energy Solutions refinery, the largest oil refinery on the East Coast of the United States, blew up.

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“We feel very lucky, we feel honored,” Roberto Perez, chief executive officer of the real estate development company, said in a phone interview with WHYY. Two more wells show possible PFAS contamination near Dover Air Force Base. “I am hopeful that Hilco’s vision for the refinery site will be consistent with the values and priorities we heard throughout the Refinery Advisory Group process last year.”, According to Hilco executives, the site’s redevelopment will create 18,000 jobs in the next 10 years — 8,000 union construction jobs and 10,000 permanent jobs — and “rely heavily on local unions and local trades.”.

Implement, at the minimum, the city’s required 50-foot setback from the river’s edge for public waterfront access. On Monday, June 22, as Black Lives Matter protests continued nationwide, members of Philly Thrive, a local grassroots group, arrived outside the

“The former PES refinery on the Lower Schuylkill represents the single most important development site in the city,” said Harris Steinberg, executive director of the Lindy Institute for Urban Innovation at Drexel University.

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