Carlyle philadelphia energy solutions

The real culprit? Throughout and , a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. The deal in effect guaranteed lucrative payouts to Carlyle regardless of whether the refinery benefitted from the arrangement.

When oil market conditions made the rail shipments unprofitable later that year, the refinery took heavy losses while its investors continued to collect large distributions for two more years. This is transaction in Pennsylvania. Sell -. Company About Contact LinkedIn. Legal Terms Privacy. The Carlyle Group. Their angst was short lived. It is a situation that more communities around the country are sure to encounter due to refining overcapacity and soft demand growth for transportation fuels, as the U.

Energy Information Administration forecasts. That decision rests with Hilco and its future partners in developing the site. Yet the city will have a say in future use of the site, and its experience may be instructive for other cities facing the closure of local fossil fuel businesses. Yet Hilco can't get paid for it. And because they can't get paid for it, they can't raise money for it. But the real value of that site is hundreds and hundreds of millions of dollars more.

Bipartisan proposals that would do just that have been raised in Congress. Green bond initiatives, such as those in California and New York , raise capital for projects that turn a brownfield site like the refinery to green.

In the future, proposals for clean development might access low-cost green financing, providing them an advantage over other suitors in auctions like the one that just consumed the attention of Philadelphians. All eyes will be on Philadelphia to see how its transition plays out. I am an independent consultant on policy and communications issues with energy sector advisory firms. Formerly, I ran an executive meeting series on energy investment in.

Formerly, I ran an executive meeting series on energy investment in New York, worked on corporate planning issues at electricity market operator PJM Interconnection, and was a senior energy reporter on the staff of Forbes Magazine. This is a BETA experience.