Construction on Track as Poolbeg Waste to Energy Plant Secures Fuel Deal : Covanta Secures Feedstock Contract for 58MW Dublin Waste to Energy Plant
New Jersey based waste to energy firm, Covanta (NYSE: CVA), has agreed a long-term waste supply contract for its 600,000 tonne per year Poolbeg waste to energy facility in Dublin, with Panda, one of the largest waste and recycling collection companies in Ireland.
Covanta said that with this deal, to date, 60% of the facility's waste processing capacity has been secured under long-term contract.
The Dublin waste to energy project is a Public Private Partnership (PPP) between Covanta and Dublin City Council (acting on behalf of the four Dublin Local Authorities) which is intended to provide the Dublin region with a long-term sustainable and environmentally sound waste management solution.
Once operational, Covanta said the Poolbeg plant will enable Dublin to divert post-recycled waste from landfills and become locally self-sufficient in managing waste, consistent with regional, national and EU waste policies.
According to the developer, as well as generating around 50MW of electricity, the facility has also been designed with technology and infrastructure to provide enough heat to meet the equivalent needs of over 50,000 homes if a district heating system is implemented in the future.
Under the project agreement with the Dublin regional authorities, Covanta is responsible for sourcing waste supply for the facility, which will consist of residential, commercial and industrial waste streams from Dublin and surrounding areas.
"We are pleased to have made significant progress in securing waste contracts on terms consistent with our market expectations, and we continue to see very strong local market demand for the facility's capacity as we look to secure additional volumes," commented Covanta President and CEO Stephen J. Jones.
"Construction of the facility continues to progress on schedule and is over 50 percent complete. We look forward to delivering a state-of-the-art waste and energy solution to the Dublin Region in late 2017," he concluded.
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