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Gibbons Creek Acquires Steam Electric Station and Reservoir

A subsidiary of Louisville, KY-based Charah Solutions recently acquired the 6,166-acre Gibbons Creek steam electric station and reservoir located in Grimes County, TX. The property was acquired by subsidiary, Gibbons Creek Environmental Redevelopment Group LLC (GCERG).

“GCERG plans to redevelop the property in an environmentally conscientious manner that will expand economic activity and benefit the surrounding communities through job creation, promotion of industry, support of the tax base as well as restoring the property to a state that will enable it to be put to its best potential use,” said Scott Reschly, vice president of operations for Charah Solutions.

Potential redevelopment uses for the property include solar, battery and energy storage options which utilize the existing transmission system, maximize the reservoir’s potential, reuse of the vast rail system and create other industrial uses. GCERG will also work with Texas Commission on Environmental Quality to complete all environmental remediation required for the property.

An Avison Young engagement team was led by Richard Shields with support from Richard Hanson and Marissa Rose, who are all based in the firm’s Chicago office and Tommy LeBlanc of the Houston office.

“We will work as an integral member of the team that will oversee the environmental redevelopment and risk transfer agreement to shut-down, decommission and demolish the existing coal-fired power plant, remediate the ash ponds and landfills, and redevelop and market the property,” added Shields.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Acquisition
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