PLEASANT RIDGE and GINGER HILL
Bentleyville, PA &
Palmer affiliates entered into agreements with Maple Creek Mining, Inc. (ranked as the 55th largest U.S. coal producer) and the Ohio Valley Coal Company (ranked as the 35th largest U.S. coal producer) to purchase waste coal fines recovered from their slurry ponds.
Two large financial service institutions agreed to equally finance the construction and acquisition of facilities at these two sites. Originally production was projected to average 325,000 tons per year from each facility, in 2007 the facilities produced a total of 2.2 million tons of synthetic coal and generated almost $71 million in pre-phase out tax credits for the investors.
These projects illustrate the depth and range of Palmer Capital and its affiliates skills including developing the projects, finding investors, structuring the transaction, negotiating agreements, overseeing facility construction and managing on-going operations.
LOCATION: Bentleyville, PA and Alledonia, OH
TYPE: Synthetic Coal
PALMER’S ROLE: Developer, Financing Finder, General Partner