FirstEnergy Solutions emerges from bankruptcy as Energy Harbor

Published: Feb. 27, 2020 at 6:41 PM EST
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The operator of the Davis-Besse nuclear power plant in Oak Harbor announced Thursday that it had completed their chapter 11 restructuring process and changed its name.

Energy Harbor Corp., formerly FirstEnergy Solutions, will be headquartered in Akron.

"With our industry-leading nuclear fleet focused on safe and resilient production of substantial carbon-free electricity, Energy Harbor is in an excellent industry position for a future focused on environmental, social and sustainability goals," John Kiani, Executive Chairman of Energy Harbor said. "Combined with our rapidly growing retail business and dependable clean air credit support, the majority of Energy Harbor's cash flow will be comprised of high quality, visible and predictable zero carbon businesses. Our team is diligently focused on continuous improvement and operational excellence to maximize the value of these unique and scarce attributes for our shareholders, employees, local communities and other stakeholders."