Covanta Completes Sale of Washington State Hydroelectric Project
MORRISTOWN, N.J – August 1, 2018 – Covanta Holding Corporation (NYSE: CVA) (the “Company” or “Covanta”), a world leader in sustainable waste and energy solutions, today announced that it has successfully completed the sale of its interests in the Koma Kulshan hydroelectric project to Atlantic Power Corporation. In operation since 1990, Koma Kulshan is a 13 megawatt hydroelectric project located north of Seattle, Washington. The purchase price of $12 million was paid in cash.
Stephen J. Jones, Covanta’s President and CEO said: “We are pleased to receive fair value for an asset outside of our core business. This transaction demonstrates our wider plan to rationalize our assets as we strive to improve returns and sharpen our focus on our energy-from-waste business.”
Covanta, (NYSE: CVA), is a world leader in providing sustainable waste and energy solutions. Annually, Covanta’s modern Energy-from-Waste facilities safely convert approximately 20 million tons of waste from municipalities and businesses into clean, renewable electricity to power one million homes and recycle approximately 550,000 tons of metal. Through a vast network of treatment and recycling facilities, Covanta also provides comprehensive industrial material management services to companies seeking solutions to some of today’s most complex environmental challenges. For more information, visit covanta.com.
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