St. Croix Energy Wins Bid for Troubled Limetree Bay Refinery
St. Croix Energy LLP announced that it won the recent auction for the shuttered Limetree Bay refinery in the U.S. Virgin Islands for a reported $20 million. The company hopes to restart operations at the long-troubled refinery.
The Limetree Bay refinery has a processing capacity of approximately 200,000 barrels per day but had been shut in for nearly a decade until it reopened earlier this year under a partnership of EIG and ArcLight Capital private equity firms. U.S. regulatory firms shut the project down after only a few months of production due to a host of environmental issues from the refinery. New owner St. Croix Energy LLP does plan to restart operations at the facility, but there is no timetable or specifics at this as previous refining operations are still working through incidents and violations protocol. St. Croix LLP has stated that it plans to operate as “a sustainability driven and environmentally conscientious energy solutions provider’, indicating that this restart could involve renewable energy planning at the facilities.
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