West Virginia

Palmer acquired two waste coal facilities in Irvine, Kentucky. Due to feedstock supply and operational concerns at the original site, Palmer, as the general partner, worked to make sure that an appropriate new site was chosen — one which would help maximize investor benefits as well as minimize project risks.

After expending considerable effort, Palmer was able to have the facilities moved to a site in Marmet, West Virginia, where the host, an affiliate of Progress Energy, had an optimum transloading facility and an excellent operating and marketing history.

Palmer negotiated documents with incentives which worked to the benefit of all parties. The facilities operated successfully for several years producing approximately 1.7 million tons of a coal-based product per year.

DATE: 1999
TYPE: Waste Coal
PALMER’S ROLE: General Partner, Sponsor in Credit Monetization Program
AMOUNT: $358,592,000

KenPen Marmet WV