Chosen by Buckinghamshire County Council as the preferred bidder, American-owned Covanta plans to build the facility at Rookery South Pit near Stewartby, Bedfordshire.
Cabinet member for planning, environment and development Cllr Martin Tett said: The quality of both bids was high and the decision was not easy. Id like to thank WRG for its hard work in putting its bid together.
I am confident that the EfW technology proposed by Covanta is right for the job and that this deal is in the best interests of our council tax payers. Value for money was also an important consideration throughout. We need efficiency, effectiveness and economy from the winning bidder. But, we also need to consider another e environment.
Ultimately, the firm hopes to treat 585,000 tonnes of waste each year, producing enough electricity to power around 82,500 homes and supplying heat to nearby developments. However, initially the facility will treat just 390,000 tonnes of waste each year.
Covantas proposals are yet to be given the go-ahead though, as due to the plants power-generating capacity, the planning application will be decided by the Government. The application is expected to be made later this year, with the facility running by 2014.