Construction of an energy-from-waste plant in Dublin in the Republic of Ireland is to start immediately, as finance for the scheme has been finalised.
US firm Covanta has made an agreement with Dublin City Council to build, own and operate the €500m (£390m) plant in Poolbeg, which will be able to handle 600,000 tonnes of waste a year and produce 58 megawatts.
Construction is expected to take three years, with the start of operations scheduled for late 2017.
The plant will generate renewable energy to 80,000 homes, with the potential to heat more than 50,000 homes if a district heating system is implemented in the future. Covanta said the facility would enable the Dublin region to divert post-recycled waste from landfills and become locally self-sufficient in managing waste.
Covanta is supplying around €125m for the project with the rest funded by a combination of third parties.
Over 50% of the facility’s renewable electricity generation is expected to qualify for preferential, inflation-escalated pricing under Ireland’s renewable feed-in tariff through 2031, with the remainder of electricity sold at market rates.
Covanta chief executive and president Anthony J. Orlando said: “The facility will be state-of-the-art in all respects, including energy efficiency and environmental performance, and will provide a meaningful boost for the local economy.”