EQT Infrastructure and Covanta, a provider of sustainable waste and energy solutions, have agreed to create a standalone waste-to-energy platform in Europe.
Covanta's European platform is a major owner and operator of energy-from-waste facilities, including three operational facilities and three under construction in the United Kingdom, Ireland and Italy. The firms said the separation of Covanta and Covanta Europe will help unlock significant growth potential and enable further value creation across both platforms.
In July 2021, EQT Infrastructure agreed to acquire Covanta Holding Corp. in a transaction valued at $5.3 billion, including the assumption of Covanta’s net-debt obligations. At the time, Covanta had 41 waste-to-energy facilities strategically located in key metropolitan areas across the United States, Canada and Europe.
Following the formation of the new platform,
