Asian based Waste-to-Energy Company has received a $273 Million concessional loan from Global Private Equity Partners to develop a Waste Treatment Facility.
NEW YORK, NEW YORK, UNITED STATES, February 24, 2021 /EINPresswire.com/ — Global Private Equity Partners provides USD $273 Million Loan Package to Develop Waste-to-Energy Facility.
Asian based Waste-to-Energy Company has received a $273 Million concessional loan from Global Private Equity Partners to develop a Waste Treatment Facility using waste-to-energy (WTE) technology and disposal infrastructure for the region.
The region suffers from severe environmental pollution and deteriorating livability due to inadequate collection and haphazard disposal of solid waste. Over 900 tons per day (tpd) of solid waste are generated in the area and dumped or burned at the 20-hectare dump site. Established in 1990, this dump site has no pollution control measures. The site contaminates the surrounding environment and is a public health and environmental hazard threatening fisheries and tourism.
“The project will significantly improve solid waste management through the provision of efficient and sustainable treatment and disposal infrastructure,” said the representative of the Waste-to-Energy Company. “The WTE facility will be a pivotal component of an integrated solid waste management system, which will improve public and environmental health, especially ocean health.”
The representative of the Waste-to-Energy Company further stated that “We could not have completed the project without the insight, 24/7 assistance and support we received from Global Private Equity Partners.”
The project will establish a WTE plant with a capacity of 500 tpd, 2 treatment lines of 250 tpd each, an 8-megawatt electricity surplus energy recovery facility, an air pollution control system, and a landfill for safe disposal of air pollution control residues and non-marketable incineration bottom ash. The WTE treatment process minimizes land requirements for waste disposal and produces renewable energy addressing the critical land and electricity constraints of developing small island countries.
All facilities will adopt disaster- and climate-resilient features to respond to future disaster and climate change threats, such as sea level rise. The WTE plant will be implemented through a design-build-operate modality with the private sector, with a 15-year operation and maintenance period.
The project will also strengthen the institutional capacity of the Ministry of Environment (MOE) and Environmental Protection Agency (EPA) to supervise WTE operations, enhance operation and maintenance cost recovery, and improve public awareness on sustainable waste management practices.
The Waste-to-Energy Company is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
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Source: EIN Presswire