Covanta Holding Corp. (NYSE: CVA) said Aug. 19 that it has acquired the Camden Resource Recovery Facility, a 1,050 ton-per-day Energy-from-Waste (EfW) facility in Camden, N.J., from a subsidiary of Foster Wheeler AG.
The transaction is expected to have a modest positive impact on Covanta’s 2013 guidance metrics.
The Camden EfW facility provides sustainable waste management services to Camden County and surrounding communities while generating approximately 21 MW of renewable energy which is sold into the PJM Interconnection region at market rates. The facility’s southern New Jersey location adds to Covanta’s extensive network of EfW facilities in the Northeast and Mid-Atlantic. In 2012, the Camden facility processed approximately 319,000 tons of waste into more than 146,000 megawatt hours of electricity.
“We are excited to expand our portfolio of Energy-from-Waste facilities with this strategic and opportunistic acquisition. We have a strong track record of successfully integrating businesses and we look forward to welcoming new clients and employees into the Covanta family,” said Anthony Orlando, Covanta CEO and President.
Covanta Energy said it is an internationally recognized owner and operator of Energy-from-Waste and renewable energy projects and a recipient of the Energy Innovator Award from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. Covanta’s 45 EfW facilities provide communities with an environmentally sound solution to their solid waste disposal needs by using that municipal solid waste to generate clean, renewable energy.
