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December 12, 2005
The Solid Waste Authority of Central Ohio (SWACO), Grove City, Ohio, is planning to sell its available Sulfur Dioxide credits earned from its waste-to-energy facility to pay debts it owes to the city of Columbus. The credits have been sold to Morgan Stanley Capital Group, Inc. According to a press release issued by SWACO, the pollution credits were instituted as a part of the 1990 Clean Air Act to help prevent acid rain and encourage emission reduction among power plant owners. With the sale of credits, the city of Columbus will receive more than $10 million; however, SWACO will still owe more than $19 million for the facility, which was demolished in March 2005.
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