Covanta Enters Joint Venture for WTE Facilities in China

December 13, 2007

1 Min Read
Covanta Enters Joint Venture for WTE Facilities in China

Covanta Holding Corp., Fairfield, N.J., has announced a joint venture with with Guangzhou Development Industry Co., (GDIH) a Chinese power company, to develop waste-to-energy facilities in the Guangdong Providence of China. Covanta has a 40 percent stake in the joint venture, which creates Guangzhou Development Covanta Environmental Energy Co. The new company will build facilities in major cities such as Dongguan, Foshan, Guangzhou, Huizhou, Jiangmen, Shenzhen, Zhaoqing, Zhongshan and Zhuhai.

"We're excited to be partnering with GDIH to help bring sustainable energy and waste disposal solutions to the region,” said Anthony Orlando, president and CEO of Covanta, in a press release. “As one of the premier electricity suppliers in this region, GDIH offers substantial expertise and business experience that complements our strength in the energy-from-waste industry. Working together, we plan to develop new facilities to generate electricity, offset the use of fossil fuel and reduce the amount of municipal solid waste that is landfilled. Guangdong Province produces more than 27 million tons of household waste annually, and we have the know-how to convert this into clean renewable energy to help meet China's growing demand for electricity.”

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