The Dublin Waste to Energy Ltd is a joint venture between Covanta Energy, USA, a subsidiary of Covanta Holding Corporation and DONG Energy Generation, Denmark.
The Council have entered into contract with the company to design, build, finance and operate the proposed Dublin Waste to Energy Plant at the Poolbeg Peninsula.
Anthony Orlando, President and Chief Executive Officer of Covanta, said: “We are delighted with this opportunity to provide world-class service to the city of Dublin. This project is exactly the type of public-private partnership that we look for as we seek to grow our business in Europe. It fits perfectly with our core strengths of designing, building and operating Energy-from-Waste projects, and generating clean, renewable energy from waste. We look forward to a long and beneficial relationship with Dubin as a new and important client.”
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Under the Dublin project agreements, several customary conditions must be satisfied before construction can begin, including the issuance of all required licenses and permits.
The permitting process is already underway and it is anticipated that all required permits and approvals will be received to support a construction start in 2008.
Through its subsidiaries, Covanta is responsible for the design and construction of the project, which is estimated to cost approximately €300 million and will require three years to complete.
A separate Covanta subsidiary will operate and maintain the project for Dublin Waste to Energy Limited, which has a 25-year “tip fee” type contract with the Dublin City Council to provide disposal service for approximately 320,000 metric tonnes of waste annually. The project is expected to sell electricity into the local grid under short-term arrangements. Covanta and DONG Energy Generation A/S have committed to provide financing for all phases of the project; however, Covanta believes that numerous project financing structures will be available once the initial development phase is complete.
Matt Twomey, Assistant City Manager for Dublin City Council, said: “When the Dublin Waste Plan achieves its ambitious targets of 59% recycling and the amount of waste going to landfill is reduced from the current 70% to just 16%, there will still be 25% of Dublin’s waste remaining that has to be managed. Generating energy from the estimated up to 600,000 tonnes annually will provide electricity for 50,000 homes and district heating for a further 60,000 homes. Waste to energy has a role to play in a plan that emphasises maximum recycling and minimum use of landfill.”
Covanta Energy is a major US company that operates 32 waste to energy facilities and has 20 years experience of waste to energy projects. The company treats approximately 15 million tons of municipal waste every year. It takes residual waste that cannot be re-used or recycled and converts it into clean energy. Covanta has won numerous awards for environmental achievement in its facilities in the USA.
(LC)
