EDGE GE Power looking to sell Chattanooga plants

EDGE GE Power looking to sell Chattanooga plants

94-acre riverfront site can be split for sale

October 1st, 2017 by Mike Pare in EDGE

Staff file photo by Doug Strickland The former Alstom steam turbine manufacturing plant is for sale by current owner GE Power.

Photo by Doug Strickland /Times Free Press.

ABOUT THE SITE

* Name: GE Power facilities

* Location: 1119 and 1201 Riverfront Parkway in Chattanooga

* Size: 94 acres

* Cost: Unspecified

* For more information: CBRE

 

GE Power, the owner of the former Alstom facilities in Chattanooga, has put its Chattanooga plants on the market. They can be sold individually or collectively.

The sites include the boiler service center and its steam turbine manufacturing location at 1119 and 1201 Riverfront Parkway.

GE last year unveiled plans to close the facilities it bought in late 2015 and lay off most of the workforce, eliminating 235 jobs.

Real estate broker CBRE said the 94-acre parcel represents "the rare, unique and well-timed potential to acquire a massive waterfront development/redevelopment site."

According to a publication of Alstom predecessor Combustion Engineering, the energy manufacturing history in Chattanooga dates back to 1888.

About 35 years ago, the Riverfront Parkway manufacturing site, then owned by Combustion Engineering, had nearly 6,000 workers and was Chattanooga's largest employer. It served as a maker of fossil fuel and nuclear steam generating equipment.

While the employee headcount fell sharply over the decades, a revival was expected in 2007 when then-facility owner Alstom announced plans to build a $300 million plant to make new turbines for an expected renaissance of the nuclear industry.

However, shortly after that plant opened, an earthquake and tsunami hit Japan and its Fukushima nuclear plant in 2011, and the Chattanooga facility had trouble meeting its employment goals. In addition, the energy market saw more of a demand for natural gas-powered plants.


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