Press Release: FERC greenlights sale of deadly Gavin coal plant to Energy Capital Partners, puts communities across the eastern U.S. at risk of adverse health outcomes   

After several months of consideration, the Federal Energy Regulatory Commission (FERC) approved the sale of four midwest power plants, including the highly polluting and deadly General James M. Gavin coal plant, to Energy Capital Partners (ECP), a private equity firm and a subsidiary of London-based Bridgepoint. Private Equity Stakeholder Project (PESP), Public Citizen, and Sierra Club have raised concerns about the deadly consequences of keeping Gavin running. 

“It is irresponsible for FERC to approve the sale of the Gavin coal plant to yet another private equity firm, ECP, with so few conditions, knowing that pollution from the plant causes adverse health outcomes across the eastern U.S.”, said Ryan Leitner, Senior Research & Campaign Coordinator for Climate at PESP. “It is now incumbent upon ECP and its parent company, Bridgepoint, to commit to responsibly transitioning Gavin away from coal while maintaining reliability.” 

“Gavin consistently ranks as one of the worst and deadliest coal plants in the country. Continuing to operate it with no plan for transition to clean energy is irresponsible. ECP should commit to a plan to end coal burning operations at the Gavin plant,” said Neil Waggoner, Midwest Campaign Manager, Sierra Club Beyond Coal Campaign.

Gavin is a 50-year-old coal-fired power plant located in southeast Ohio. Analysis by Sierra Club and the Private Equity Climate Risks consortium, which PESP is part of, have estimated that pollution from Gavin is responsible for at least 200 premature deaths annually across the eastern seaboard. 

Investors with ECP and its parent company, Bridgepoint, should be concerned about the hypocrisy of this purchase. ECP and Bridgepoint tout their sustainability and investments in the energy transition, yet ECP will soon be the owner of one of the highest emitting power plants in the U.S. 

PESP, Public Citizen, and Sierra Club filed multiple joint protests in this FERC proceeding. The protests raised concerns about opportunities for exercising increased market pressure, vertical integration, potential data center collaboration, and the possible lack of full transparency from ECP in its plans for the potential near-future sale of Gavin to a consortium of buyers, while the coal plant continues to pollute and kill throughout multiple states. Despite FERC now approving ECP and Bridgepoint’s purchase of Gavin, these concerns remain.