TRC Completes Environmental Permitting for One of Nation's Largest Coal-to-Natural Gas Power Conversion Projects
LOWELL, MA--(Marketwired - Jan 7, 2016) - TRC Companies, Inc. (NYSE: TRR) today announced that it was responsible for providing air and water permitting services for Panda Hummel Station, one of the largest coal-to-natural gas power conversion projects in the United States. Located in Shamokin Dam in Snyder County, Pennsylvania, Hummel Station will be an efficient, natural gas combined cycle generating facility. It will replace the 65-year-old retired Sunbury coal-fired steam electric generating plant, which was permanently shut down in 2014. Hummel Station was developed by Panda Power Funds and Sunbury Generation LP, in a joint venture. The project was financed at the end of October 2015.
"TRC is proud to support the development of this clean energy project," said Chris Vincze, TRC Chairman and CEO. "We are committed to providing high-quality services that not only satisfy our clients' needs to provide more reliable, cost effective and clean energy, but also promote a more sustainable environment for the entire community."
When Hummel Station comes online in early 2018, the plant will supply major power markets, including Philadelphia and New York. The project is expected to create hundreds of jobs, power approximately 1 million homes, decrease emissions of SO2 and NOx by more than 90 percent, and use 97 percent less cooling water than the retired, coal-fired power plant.
Siemens Energy will provide the power island package and Bechtel Power Corp. will serve as the Engineering, Procurement, Construction (EPC) contractor for the 1,100+ MW Hummel Station. The generating station will interconnect to pipelines with access to the Marcellus Shale gas formation.
TRC has been providing environmental consulting services to Sunbury Generation LP since 2006, having secured permits and approvals for a voluntary pollution control project at its now-retired, coal-fired power plant. In 2011, TRC began providing air and water permitting services in support of the coal-to-natural gas power conversion project. TRC secured one of the most critical pre-construction permits, the necessary air Plan Approval, by preparing the air emissions calculations and air permit application and participating in regulatory outreach with the Pennsylvania Department of Environmental Protection.
A leader in providing multimedia licensing and environmental services for the power generation sector, TRC has provided environmental and air quality permitting services for tens of thousands of megawatts of natural gas-fired power generation projects developed by independent power producers and utilities.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the energy, environmental, infrastructure and pipeline services markets. TRC serves a broad range of commercial, industrial and government clients, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow TRC on Twitter at @TRC_Companies and on LinkedIn.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2015, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.
Source: Marketwired (Canada)
(January 7, 2016 - 9:00 AM EST)
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