Covanta Raises 500 Million Euros for Irish Waste-to-Power Plant

Sept. 19 (Bloomberg) — Covanta Holding Corp. closed a deal
for a 500 million-euro ($642 million) Irish plant to produce
power from waste.

Covanta will build, own and operate the 58-megawatt power
facility in Dublin for the city council, with construction to
start immediately, the New Jersey, U.S.-based company said today
in a statement on its website. The plant will take about three
years to build and use residential, commercial and industrial
waste to generate electricity.

The investment is being met with 375 million euros of
project finance from a third party and 125 million euros of
equity from Covanta, according to the statement.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tony Barrett, Alex Devine

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