January 15 (Renewables Now) - Abu Dhabi Future Energy Company, better known as Masdar, acquired a 40% stake in the 29-MW East Rockingham waste-to-energy (WTE) plant in Australia.
The purchase, the company's first investment in the country, was made by Masdar Tribe Energy Holdings Ltd, a joint venture (JV) with Abu Dhabi advisory and development firm Tribe Infrastructure Group.
The East Rockingham project, located in Western Australia, reached financial close in December 2019 and construction is already underway. The AUD-511-million (USD 352.5m/EUR 316.8m) facility is expected to be up and running by the end of 2022, processing 300,000 tonnes of non-recyclable municipal, commercial and industrial residual waste every year and up to 30,000 tonnes of biosolids annually.
Recently, John Laing Group Plc (LON:JLG) has agreed to invest AUD 51.5 million in the plant.
Spanish infrastructure and renewable energy company Acciona SA (BME:ANA) will deliver the project in partnership with Hitachi Zosen Inova (HZI). French waste management company Suez will lead the operations and maintenance (O&M) services under a 20-year contract.
(AUD 1 = USD 0.690/EUR 0.620)