Eastlake, Lake County, Ohio

IDA Power, through a wholly owned subsidiary, acquired the Eastlake Power Plant pursuant to a liability assumption agreement with Energy Harbor Generation LLC (EHG). The acquisition transaction required IDA to take over the ownership and responsibility for the property while assuming all environmental liabilities associated with the facility. The Eastlake Power Plant is situated on a 120.3-acre lake-front parcel. It was previously operated as a coal fired power plant and is currently operated as a Synchronous Condenser used to adjust conditions on the electric power transmission grid. The American Transmission System, Inc. (ATSI) currently owns the buildings and equipment that support this operation and leases a portion of the property for its operations. Outside of the property constrained by leases and easements, approximately 65-acres of the southern portion of the property are available for redevelopment. A portion of the area may be further constrained by wetlands, topography, and zoning. Redevelopment is expected to include regrading to modify onsite stormwater management and the demolition of several buildings and other onsite structures.

The property’s northern side is the shoreline of Lake Erie. The surrounding area consists of a marina, residential and park uses to the east as well as residential uses south. A CSX Transportation, Inc. spur enters the southeast corner of the property and connects to the onsite rail yard. IDA is currently evaluating potential redevelopment uses for the property. Included among the possible solutions are commercial/industrial uses such as rail related logistics opportunities, ground-mounted solar facilities, battery energy storage facilities, and telecom or data centers.