Waste-to-Energy : Financial Close of Dubai Waste-to-Energy Project
Belgium’s Besix, Hitachi Zosen Inova (HZI) and other partners today reached financial close on the $1.2bn public-private partnership (PPP) deal to build a 200MW waste-to-energy plant in Dubai, one of the world’s largest such plants.
When complete in 2024, the plant will be able to generate electricity from 1.9 million tonnes of waste diverted from landfill a year.
Construction began in 2020.
Olivier Crasson, General Manager of Besix in the Middle East, said: “Dubai Waste-to-Energy is an example of which we are very proud: together with Dubai Municipality, Hitachi Zosen Inova and our valuable co-investors, we have conceived and engineered one of the most ambitious environmental projects in the Middle East and made it a reality.
The equity investor consortium comprises Dubai Holding, DUBAL Holding, Itochu, HZI, Besix and Tech Group.