Bankruptcy judge clears away final hurdle in PES refinery sale

Six parcels encompass almost a half-million acres of ocean off the Jersey and New York coasts, to generate enough wind energy to power 2 million homes.

A bigger fishery and improved water quality would draw more recreational and commercial fishing, bringing economic benefits including higher real estate values near the river.

A settlement resolved the plant developer’s objection to Hilco Redevelopment Partners’ purchase of the property. Two sides will negotiate further, he says.