Covanta developing waste-to-energy projects in China
Covanta Holding Corporation (Covanta) has announced that is has taken a 40 percent stake in a joint venture with Guangzhou Development Industry (Holdings) Co., Ltd. (GDIH) to develop energy-from-waste projects in the Guangdong Province of Southeast China.
GDIH is one of the largest power companies in China's Guangdong Province and has extensive experience in energy and electric power development, construction, operation and management.
The new company, which will be known as Guangzhou Development Covanta Environmental Energy Co., Ltd, will design, build, own, and operate new energy-from-waste facilities throughout the region, which includes Guangdong Province and several of its major cities including Guangzhou, Shenzhen, Zhuhai, Dongguan, Zhongshan, Foshan, Huizhou, Jiangmen and Zhaoqing.
Guangdong Province produces more than 27-million tons of household waste annually and China generates an estimated 280 million tons of municipal solid waste annually, most of which is currently being disposed of via landfilling.
The Chinese Ministry of Construction has outlined a National Waste Disposal Plan to increase energy-from-waste from 2005 levels of less than 2 percent of waste disposal to 30 percent of total municipal waste disposal by 2030.
About GDIH Guangzhou Development Industry (Holdings) Co., Ltd., a listed company on the Shanghai Stock Exchange, engages in a wide range energy businesses including electric power, coal, oil products and natural gas.
GDIH is one of the biggest three electric power enterprises in Guangdong Province, with extensive experience in electric power development, construction, operation and management.
Covanta's modern energy-from-waste facilities safely and securely turn 15 million tons of waste into more than 8 million megawatt hours of clean renewable electricity each year and create 10 billion pounds of steam that are sold to a variety of industries.
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