MARCH 31, 2020

Brayton Point Redevelopment Project Moves Closer to Viability as Manufacturing & Logistics Hub for Offshore Wind

Somerset, MA – Over the past 18 months, the transformation of Brayton Point has achieved significant milestones as the landscape shifted from its historic use as a coal-fired power plant to an international marine terminal. The brownfield redevelopment investment envisioned by Commercial Development Company, Inc. (CDC) is becoming reality as the site evolves towards becoming a sustainable logistics and manufacturing center, a renewable energy hub and an international seaport.

Russ Becker, President of EnviroAnalytics Group, reports “Demolition at Brayton Point has progressed to its final stages across most of the site. Grading activities will commence this spring to prepare laydown and manufacturing areas for future tenants. The grading plan is designed in accordance with the offshore wind industry requirements for a marshalling port and manufacturing of offshore wind components.”

“Our crews have safely deconstructed and removed 1.5 million square feet of former power plant infrastructure. We now have a blank canvas to create a platform for new development as the site matures into Brayton Point Commerce Center” said Becker.

Throughout the reclamation process CDC has been engaged in extensive discussions with major offshore wind industry companies. Prospective tenants include manufacturing, logistics, cable interconnections, maintenance, and other bulk materials.

“The goal with our investment is to utilize attributes that made Brayton Point successful in the past, while supporting future energy needs, the local tax base and local employment,” said Stephen Collins, Executive Vice President at CDC. “We have seen significant interest from prospective tenants wishing to use the port for offshore wind operations. These discussions take time as the investments are sizable.”

Of particular interest to the offshore wind sector are Brayton Point’s now proven abilities to conduct efficient heavy lift port operations and receive deep-draft ocean-going vessels at the site’s newly redeveloped marine commerce terminal. As of today Brayton Point Commerce Center has received a total of nine (9) vessel calls. These ships have included offshore wind research vessels, yacht transporters, bulk carriers and tug and barge units. Seeing the port working efficiently instills confidence in other groups looking at the site.

Above: Brayton Point Commerce Center receives first cargo shipment to new marine commerce terminal (October 2019)

“Brayton Point is in competition with other ports and states up and down the east coast vying to serve the offshore wind industry. Our goal is to demonstrate that Brayton Point is a functional asset worthy of serious consideration. It is important we operate with   support and cooperation of the community in order to attract wind industry investors,” said Neil McLaughlin, Co-Managing Director of Patriot Stevedoring + Logistics, LLC, the stevedoring company operating the site’s marine terminal.

Above: Preliminary route plan for monopile transport and laydown at Brayton Point

In May 2019, Anbaric announced an agreement with CDC to establish a 1200- Megawatt (MW) high voltage direct current converter and 400-MW of battery storage at Brayton Point to support the offshore wind industry. CDC continues to work with Anbaric, aiming to bring this plan to fruition.

Above: Rendering of Anbaric’s renewable energy plans, including proposed 1200-MW HVDC converter, 400-MW of battery storage

“Ultimately, the development of wind energy projects at Brayton Point is subject to market factors outside of our control. These include state and federal permit timelines and developer contracts.  However, we are preparing the site for wind uses and remain optimistic offshore wind will play a major role in Brayton Point’s future. Throughout southeastern Massachusetts from government officials to university and technical school leadership and business leaders interested in utilizing Brayton Point, there is a tremendous support and recognition as to what has been accomplished and where we are going. ‘Build it, and they will come,’” said Collins.

Other Notable News Items

• Brayton Point Commerce Center and Patriot are working with the Somerset Fire and Police Departments to collectively provide the best training possible based on the growing activities and port operations. More recently, in light of the growing COVID-19 pandemic, Brayton Point Commerce Center has donated emergency supplies to these departments. Patriot will secure personal protective equipment and facemasks for first responders, via their international maritime safety suppliers.

• Last year, CDC redirected $150,000 to the Brayton Point traffic planning committee. These state funds were originally allocated to Brayton Point LLC for land planning. CDC recognized that traffic management is a strong community concern. We wish to support the Town of Somerset in its efforts to evaluate and improve traffic flow.

• Brayton Point Commerce Center has implemented active Co-Op / internship programs with several regional educational institutions including: Massachusetts Maritime Academy, Bristol Community College, Bryant University, the University of Rhode Island and is in discussions with several more.

• Patriot and Brayton Point Commerce Center have partnered with Clean Ocean Access to install a next generation trash skimmer at Brayton Point. This will benefit the Taunton River and Mt. Hope Bay areas. Clean Ocean Access is a not-for-profit organization along the eastern seaboard coastline with headquarters on Narragansett Bay. Clean Ocean Access’ vision is for healthy oceans that are free of marine debris with water that is safe for all ocean activities and a shoreline that is accessible to the public.

About Brayton Point Commerce Center

For 50 years, Brayton Point was home to New England’s largest coal-fired power plant that generated 1600 MW of electricity to local homes and businesses and was a source of good paying jobs and tax revenue. CDC purchased the retired power plant in early 2018 and has invested significant resources to redevelop the site. Brayton Point Commerce Center will return the former power plant site to a state of productivity and growth by using the same attributes that made it successful in the past – 300 acres of industrial waterfront property, a 34-ft deep water port capable of berthing large trans-Atlantic ships, access to major highway transportation, access to a strong local talent pool and public support for energy diversification. For these reasons, we believe Brayton Point Commerce Center will be transformed into a logistics, manufacturing and support center for offshore wind. For more information please visit www.braytonpointcommercecenter.com.

About Commercial Development Company, Inc.

Commercial Development Company, Inc. (CDC) is a privately held, diversified real estate acquisition and development firm whose principal competency lies with the acquisition, repositioning, and redevelopment of underutilized, distressed, or environmentally-challenged properties. CDC has purchased and redeveloped over 65-million-square feet under roof located on 300 sites throughout the United States and Canada. For more information, visit www.cdcco.com.

About Patriot Stevedoring + Logistics LLC

Patriot Stevedoring + Logistics LLC represents a joint venture between Carver Stevedoring Services, Inc. and Pangaea Logistics Solutions Ltd. (Nasdaq: PANL) for the purposes of managing the port operations at Brayton Point Terminal. Carver’s port operations and maritime experience includes several deepwater ports along the eastern seaboard including Port of Coeymans, New York; Port Manatee, Florida; and Pier J Charleston, South Carolina.  Pangaea Logistics Solutions Ltd. maintains an international ocean freight network of shippers and receivers many of which are interested in utilizing the Brayton Point Commerce Center.

For more information, visit www.carvercompanies.com/carver-stevedoring.

Media Contacts:

If you would like more information about Commercial Development Company, Inc., please contact John Kowalik (314) 835-2813 / jkowalik@cdcco.com.