E.ON to Sell Waste to Energy Business

09 March 2012 The world's largest utility, Germany's E.ON is set to sell its waste to energy business, according to a report by Reuters. The news agency said that it had been told by banking sources that the deal could fetch up to 1.8 billion Euros. E.ON is reported to have hired Barclays and Royal Bank of Scotland to manage the sale process, with private equity firms possibly among interested bidders. E.ON was not available to comment, but according to Reuters the group had said in July it was considering selling its waste burning power plants as part of its 15 billion euro divestment programme. E.ON Energy from Waste generated sales of 544 million Euros in 2011 with its 18 power plants in Europe. The company, based in Helmstedt, converts almost 5 million tonnes a year of municipal, commercial and industrial waste into 2900 GWh of heat and 2800 GWh of electricity for large energy users, district heat facilities and local authorities. The unit has earnings before interest tax depreciation and amortisation (EBITDA) of around 200 million euros, according to Reuters banking sources. Read More Recycler to Supply New 30 MW Wood Waste Facility Lancashire, UK based recycling firm R Plevin & Sons has secured an exclusive contract from utility company, E.ON to supply waste timber for a £120 million biomass fired renewable energy plant. Three Way Battle for North London's SRF E.ON/ Wheelabrator Technologies are proposing a Combined Heat and Power plant at DS Smith Paper's site at Kemsley Mill, Sittingbourne, Kent as one of three bidders for North London's Solid Recovered Fuel Veolia to Offload U.S. Waste Business In an effort to reduce its debt by raising 5 billion Euros, French Waste and Water company Veolia Environnement, is considering off loading its U.S. waste business. Free Magazine Subscription Free Email Newsletter