Dubai Waste Management Co., a special-purpose vehicle consisting of BESIX, Tech Group, Hitachi Zosen Inova, ITOCHU Corporation, DUBAL Holding and Dubai Holding Commercial Operations Group, has reached financial close on a waste-to-energy facility east of downtown Dubai.
The $900 million loan agreement was signed with Japan Bank for International Cooperation and a number of private financial institutions, according to InfraPPP.
This is the first facility of its kind in Dubai, and it will be one of the largest energy-from-waste projects in the world. The project will operate on a build, operate and transfer basis with a 35-year operation period with Dubai Municipality.
The facility will treat 5,666 tons of municipal solid waste from the Dubai area per day, converting a total of 1.9 million tons a year into renewable energy.
The 200 megawatts of electricity generated will be fed into the local grid as baseload energy.
