Covanta Buys Camden Waste-to-Energy Facililty

Covanta Holding Corp. has bought a waste-to-energy operation, Camden Resource Recovery Facility, for $48.6 million.

The Morristown, N.J.-based Covanta said in a news release it acquired the 1,050 ton-per-day facility in Camden, N.J., from a subsidiary of Baar, Switzerland-based Foster Wheeler AG.

The waste-to-energy facility generates 21 megawatts of renewable energy and serves Camden County and surrounding communities. The Camden operation processed about 319,000 tons of waste in 2012.

 The company said the southern New Jersey location complements its network of waste-to-energy facilities in the Northeast and mid-Atlantic.

“We are excited to expand our portfolio of energy-from-waste facilities with this strategic and opportunistic acquisition,” said Anthony Orlando, Covanta CEO and president.

Covanta expects the transaction to have a modest positive impact on its 2013 guidance.