Covanta, Green Investment Group reach financial close on Rookery project
Covanta and Green Investment Group announced that the Rookery South Energy Recovery Facility in Bedfordshire, England has reached financial close and will commence construction. Covanta and GIG will each own 40% of the state-of-the-art facility, with primary waste supplier Veolia ES Limited owning the remaining 20%. The Rookery facility will provide 545,000 tonnes of annual treatment capacity for non-recyclable waste, further enabling the UK to achieve national self-sufficiency in managing waste and compliance with landfill diversion targets. Veolia will deliver the majority of Rookery's waste supply under a long-term contract, with the balance of the waste sourced through other commercial, industrial and municipal counterparties. In processing this waste, Rookery will generate over 60 megawatts of electricity which will be sold into the grid on a merchant basis, powering the equivalent of over 112,500 homes.