Wheelabrator Completes $150 Million Buy of SPSA Burn Plant

Date: April 30, 2010

Source: News Room

Wheelabrator Technologies, a division of Waste Management, officially closed on its $150 million purchase of a 60 Megawatt waste-to-energy plant in Portsmouth, VA from the Southeastern Public Service Authority (SPSA), a government agency that handles most of the waste from its eight member cities and counties. The purchase also includes a neighboring sorting center that produces refuse derived fuel (RDF) for the burn plant. SPSA will use the proceeds to pay down debt to the Virginia Resource Authority (VRA) and other lending institutions, as well as to repay money owed to the City of Virginia Beach. The RDF gathers most of the 2,000 tons of waste per day generated in Norfolk, Chesapeake, Virginia Beach, Franklin, Suffolk, Southampton and Isle of Wight counties as well as Portsmouth. Wheelabrator owns and operates 16 waste-to-energy facilities and five independent power production facilities, with a combined electric generating capacity of 836 MW and total disposal capacity of 21,340 tons per day.

To learn more, visit: www.spsa.com, and www.wheelabratortechnologies.com.

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