US firm secures £250m waste PFI(2)

Covanta Energy has been selected as preferred bidder for a £250m PPP scheme to develop energy-from-waste facilities in the English county of Buckinghamshire. The new plant is expected to be operational by 2014.

US energy-from-waste specialist Covanta Energy has been named preferred bidder for a waste PPP scheme in the south east of England.

Buckinghamshire County Council’s PFI scheme will see Covanta develop and operate a new energy-from-waste plant over a 25-year concession period.

The value of the projects is around £250 million (€282 million; $412 million). Covanta saw-off competition from rival bidder Waste Recycling Group. The winning bidder’s proposed facility will convert around 585,000 tonnes of waste into 65 megawatts of energy each year.

The new facility is expected to be operational by 2014, subject to planning approval being received.