Financing Secured for Poolbeg Incinerator

Scott Whitney - CEO Covanta

Plans for a €400 million waste incinerator could go ahead in the coming months as Covanta, the American company behind the Poolbeg incinerator project, announce they have secured financing. The American energy firm in partnership with Dublin City Council plan to develop a 600,000-tonne capacity plant in the Poolbeg region of South East Dublin.

 According to Covanta the construction phase of the project would create 500 jobs and 60 other full time positions once the incinerator was operational.

Speaking ahead of an expected announcement concerning the financial deal, Scott Whitney, the president of Covanta Europe, told Food and Drink Business Europe, “[T]he political situation has changed totally in Ireland with the new Government. The certainty that is now being brought to regulatory matters relative to waste management is very helpful and we are optimistic that legislation will be enacted to increase recycling and energy recovery while dramatically reducing the unsustainable practice of burying waste in landfills.”

 “With this in mind and with a view towards re-starting construction of the Poolbeg EfW project as soon as possible, we are in the midst of commercially confidential discussions with a number of parties.”

 We believe that with a new waste policy, these discussions will lead to a funding of the project that will deliver a much needed employment boost to the Irish economy while providing meaningful environmental benefits and creating value for all stakeholders.”

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