The former Morwell Power Station site has been handed over to the state government after the Energy Brix demolition project was completed yesterday.
Energy Brix Australia Corporation had relinquished control of the site yesterday, but will continue to manage it for the next fortnight.
The site is now being controlled by the Department of Treasury and Finance, which will manage matters including the remediation and disposal of contaminated materials.
Full security coverage will remain on site and Gippsland Infrastructure is looking at development options.
EBAC remediation general manager Barry Dungey said the project had been completed safely and efficiently with no environmental impacts on the local community.
Mr Dungey said no asbestos fibre readings were recorded outside of the removal areas during the project and no environmental incidents occurred.
"Significantly, more asbestos was found during demolition than listed on site drawings, yet the project has continued to maintain its impeccable environmental record. All scheduled building collapses went exactly to plan and safety records were extremely good given the high risk work involved," Mr Dungey said.
More than 40,500 cubic metres of asbestos was removed off-site after an original estimated 7600 cubic metres of asbestos was slated to be removed.
Mr Dungey said the demolition project also involved recycling 18,000 tonnes of steel from the site, as well as 28,000 local employment hours and a "significant" use of local contractors.
"We were always open and transparent with the local community and despite initial concerns from some residents, we alleviated these concerns through our engagement and demonstrated that the safety of our community and our workers was at the forefront of everything we did," Mr Dungey said.
He also pointed to the work of demolition contractors Delta, as well as asbestos removalists Aware and asbestos hygienists Prensa, for the "professional way everybody has approached this project."