Covanta (CVA) Begins Construction Of Dublin Energy-From-Waste Facility, May Be Considering Purchasing Shanks

Covanta just announced that it has started production on a energy-from-waste facility located in Dublin, Ireland. The facility, which is being built as a Public Private Partnership between Dublin City Council and Dublin Waste to Energy Limited (owned by Covanta), will have the capacity to process 600,000 tons of waste per year, creating enough energy to power 60,000 homes.

The estimated time to complete the facility is 3 three years. Covanta subsidiaries are responsible for designing and building it, at an estimated cost of Euro 350 million. Covanta already has arrangements in place with four Dublin authorities to process a little over half of the plant’s capacity. The remaining waste will come from surrounding communities.

In a press release, Anthony Orlando, Covanta’s President and  CEO, commented on the news:

“After several years of diligent planning and preparation by many people within Covanta and Dublin City Council, we’re thrilled to put shovels in the ground and put people to work on this vital public private partnership. The new Energy-from-Waste facility will handle post-recycled waste to complement Dublin’s recycling efforts and provide a key component of an environmentally and economically sustainable waste management program. Furthermore, the facility will serve as a new source of clean, renewable energy. This significant investment in Ireland by Covanta will deliver long-term value for both the residents of Dublin and our shareholders.”

Additionally, the Guardian is reporting that, according to its sources, Covanta is considering purchasing UK waste firm Shanks.

:::: >>> Click Here For Your Free Covanta Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *