Bridgeport Station Development LLC was introduced Tuesday by the administration of Gov. Ned Lamont as the new owner of Bridgeport Harbor Station Unit 3, which was the last of Connecticut’s coal-fired generators of electricity when PSEG closed it in 2021. The Community Investment Fund, a competitive grant program overseen by lawmakers and the Department of Economic and Community Development, already has committed $22.5 million for the demolition of the plant, essentially making the state a broker in the deal. While the grant offsets the costs of demolition, the $1 purchase price indicates that PSEG is selling the liability for any required environmental remediation along with the potential for waterfront development. The state’s financial commitment is limited to the demolition grant. Bridgeport Station Development is responsible for any other costs, as well as redeveloping the land under conditions outlined by the state.
