New Jersey company buys former AES plant
DRESDEN—The former AES Greenidge coal-powered facility in Dresden was purchased last month by GMMM Holdings I, LLC, located in Linden, N.J.
The plant was closed in March of 2011 and put up for sale. At the time, AES representatives explained the cost to keep it open was more than the revenue being generated. The plant was operated by AES Eastern Energy, a subsidiary of AES. Greenidge has been in operation since the 1950s.
GMMM bought Greenidge on Dec. 28, 2012. Anthony Frassetti Jr., one of the purchasers, explained GMMM is owned by the parent company DSA Services Inc., also located in Linden. Vinnie Alison, another representative, said DSA is a salvage company. He added GMMM plans to either resell the plant to another company looking to reopen the facility, or tear it down.
“We’d love to keep it open,” said Alison.
However, both Alison and Frassetti said they were unsure of their plans at this point. Alison explained they already have a company interested in the Greenidge plant. He added the resale is dependent on the new company getting permits and no opposition from local or state government. If the plant could not be sold again, he said they would demolish it.
Frassetti added they have never resold a property like this, but mainly deal with salvage. In addition to the Greenidge plant, GMMM also purchased the former AES Westover, Jennison, and Hickling plants. Alison explained Hickling and Jennison cannot be reopened and Westover is “halfway dead.”
Finger Lakes Economic Development Center Executive Director Steve Griffin said he heard the plant was purchased, but added he had not talked with the new owners yet. He said the FLEDC would work with the owners and help sell the property if the plant was demolished.