In the early 2000s, JEMB Realty Corporation recognized an opportunity and, through affiliates, expanded into the energy sector, through Astoria Energy. Astoria Energy I went into service in 2006, providing 550 MW of clean, natural gas-fired energy to the New York City power grid. Astoria Energy II went into service in 2011, doubling the facility’s total output. As an original developer, and the longest-participating partner in Astoria Energy, JEMB has been extremely pleased to have been part of the Astoria Energy projects from their inception, through the construction period requiring a high level of logistical organization, and into the operational phase, providing many years of reliable electricity to New York City, its corporate home. Morris Bailey led the consortium and remained its guiding member for two decades, especially through the extremely complex sale process of the companies in 2020.
- TypeEnergy - Interests sold in 2020
- LocationAstoria, Queens
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