U.S. Bankruptcy Court in Wilmington,n Wednesday morning confirmed that Hilco Redevelopment Partners prevailed with its proposal to purchase the shuttered Philadelphia Energy Solutions refinery.
Hilco has a record of redeveloping industrial sites that included the former Bethlehem Steel Sparrows Point works in Baltimore. The company is not expected to restart the refinery but might retain tank farms and other facilities at the site in South Philadelphia.
The refinery on the two-square-mile site that dates from the Civil War. The refinery shut down after a fire and explosion in June.
Joseph Otis Minott, executive director and chief counsel of Clean Air Council, Philadelphia, issued the following statement:
“After over a century and a half of endangering the health of residents and the environment, this decision means a permanent end to the city’s largest industrial source of harmful air pollutants and climate pollution. Hilco must work with all stakeholders to leverage this opportunity to transform the site so it protects our air, water, health, and safety while spurring economic development and high-paying union jobs.”