Date: January 2, 2007
Source: Covanta Energy Corporation
Covanta Announces Start of Design and Construction of Hillsborough County, Florida Waste-to-Energy Facility Expansion
The expansion will increase the facility's capacity to provide the citizens with a climate-friendly alternative for their waste and energy needs
Covanta Energy Corporation, a subsidiary of Covanta Holding Corporation (NYSE: CVA) (www.covantaholding.com), announced it has received authorization from Hillsborough County to commence design and construction of a 50 percent capacity expansion of the Hillsborough County, FL Solid Waste-to-Energy Facility located near Brandon, FL. The 600 ton per day (TPD) capacity expansion to the existing County-owned 1,200 TPD waste-to-energy facility will be built and operated by Covanta Hillsborough, Inc., an operating subsidiary of Covanta Energy Corporation.
Covanta will oversee the design, construction and start-up of the expansion. Under the terms of the extension operations and management agreement, Covanta will operate both the expansion and the original facility, which Covanta has been successfully operating since 1987, for another 20 years. The facility serves as an integral component of the comprehensive solid waste management plan of Hillsborough Country. As outlined in the terms of the extension agreement, Covanta will operate and maintain the expanded facility though 2027 to deliver County residents with environmentally-sound waste disposal and clean, renewable energy.
"We look forward to continuing our long-standing partnership with Hillsborough County as we work to complete the expansion of this facility. The County's decision to expand reinforces the strategic role waste-to-energy plays in recovering energy and materials from the waste stream to further reduce reliance on landfilling. Covanta recognizes that climate change is a real and growing challenge, and data has shown that modern waste-to-energy facilities such as this one reduce green house gas emissions by preventing methane production from waste landfills and offsetting the use of fossil fuels for energy production," said Anthony J. Orlando, President and Chief Executive Officer of Covanta.
About Covanta Holding Corporation:
Covanta Holding Corporation is a New York Stock Exchange listed company engaging in waste disposal, energy services and specialty insurance through its subsidiaries. Covanta's subsidiary, Covanta Energy Corporation, is an internationally recognized owner and operator of waste-to-energy and power generation projects. Covanta Energy's waste-to-energy facilities convert municipal solid waste into renewable energy for numerous communities, predominantly in the United States.
For more information, contact:
Covanta Energy Corporation
Derek A. Porter, 703-370-7722
or
FOR Covanta Holding Corporation
Gavin Bell, 973-882-7107
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