Covanta to Operate 24 MW Energy-from-Waste Facility

Fairfield, New Jersey [] Covanta Holding Corporation entered into a ten-year agreement with the Harrisburg Authority to maintain and operate its 800-ton-per-day energy-from-waste facility in Harrisburg, Pennsylvania. The facility can generate more than 24 megawatts (MW) of renewable electricity and has the ability to sell steam. With this agreement Covanta now operates 32 energy-from-waste facilities in the U.S. Covanta will earn a base annual service fee of approximately $10.5 million, subject to annual escalation. Further, Covanta receives incentive fees to increase facility production, which will reduce the Authority’s waste disposal cost. These agreements will become effective when certain condition precedents occur, which is expected within 60 days.
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