About Colmac Clarion Inc.
Colmac Clarion, Inc. (CCI) is a Delaware investment holding company,
which directly and indirectly owns Piney Creek Limited Partnership (PCLP).
PCLP is a 33 megawatt waste fuel fired facility located in Piney Township,
Clarion County, Pa. CCI utilized subordinated debt from a large pension
fund to acquire PCLP.
Award for Environmental Excellence
About
the Plant
Construction of the Piney Creek power plant began in 1990, with operations commencing on December 17, 1992. A circulating fluidized bed boiler, designed by Tampella Power, is used to produce steam that drives an Asea Brown Boveri 33 MW VAX dual turbine generator set. All power produced is sold and transmitted via the Penelec substation at Piney Creek Dam.
Operation
Daily fuel for the power plant consists of approximately 625 tons of waste product from the surrounding bituminous coal producers, and approximately 150 tons of limestone from local quarries, which is used to control sulfur emissions. Additionally, the plant consumes about 500,000 gallons of water per day for the cooling tower and other services.
Stack emissions are continuously monitored, as are all water discharges, and regulated under state and federal permits by the Pennsylvania Department of Environmental Protection. Nitrogen Oxides are controlled by combustion temperature control and by ammonia injection into the gas stream. Under the 2003 NOx transport rules, the plant has been able to market its NOx emission offsets to its ultra low NOx emission characteristics. About 320 tons of ash per day are produced from the combustion of waste coal, which is back hauled to the fuel sources for neutralization of acidic mining areas that are subject to remediation processes. Investigation of other uses for combustion ash is ongoing in the areas of cement component/road manufacture and agricultural lime, all of which are proving both feasible and safe.
Pennsylvania's 2001 Governor's Award for
Environmental Excellence
This award is given to organizations and companies in Pennsylvania that
have demonstrated a commitment to environmental excellence through leadership
in pollution prevention, energy efficiency and sustainable development
initiatives. Piney Creek Limited Partnership displayed the highest standard
of environmental excellence with its innovative approach to environmental
preservation, which truly reflects it's conscious concern for our planet's
welfare.
Investment Grade Rating
PCLP’s tax exempt bonds were rated investment grade “BBB-“ by Standard and Poor’s and “Baa3” by Moody’s in the Spring of 2005. These ratings allowed PCLP’s tax exempt bonds to be wrapped by the Financial Guaranty Insurance Company and now carry a “AAA” rating.
Additional Information
Thirty-two personnel are employed directly by the power plant with additional indirect employment of truck drivers, miners and contracted vendors for fuel, limestone, ash and support services. Piney Creek has produced electricity at a capacity factor of 94.7%, 94.3 and 91.4% for the last three fiscal years ending April 30, 2005 with a forecast capacity factor of 94% for the year ended April 30, 2006.
