The Southeastern Public Service Authority’s (SPSA) Board of Directors has voted to sell the authority’s waste-to-energy plant in Portsmouth, Va., to Wheelabrator, according to a report in the Suffolk News-Herald. The purchase price is approximately $150 million. In approving the sale of the plant, the board also rejected offers from Wheelabrator and ReEnergy to purchase all of SPSA’s assets.
The sale of the plant is expected to close early next year, according to the News-Herald report. Wheelabrator is a subsidiary of Waste Management.