Draining the water on this plant is part of the quest “Troubled Waters”.
The exterior of the plant is filled with super mutant shacks. At least one of them is a suicider. If you're powerful enough to take it out before it self-detonates, you can obtain the mini-nuke it's carrying. Check the wooden shacks to find supermutant gauntlets, bladed helmet, ammo boxes, and a duffel bag.
The rooftop office has an expert safe and a Novice terminal. The terminal has controls to the spotlights and the safe.
After exiting the elevator, check the broken wall of the restroom or pick the lock of the Novice door to find two ammo boxes. The office behind a security door has an Expert safe there and an issue of Picket Fences.
While doing the quest, the Water level will lower. In the bottom room, there's a green steamer trunk which has the alternate elevator exit nearby as well. After completing the quest, the water surrounding the plant will recede, exposing the once submerged road and dry land around it.