Abu Dhabi wealth fund backs A$495 million Perth waste-to-energy plant
14 Feb 2020
Abu Dhabi-based Masdar has acquired a 40 per cent stake in Australia’s second, major waste-to-energy (WTE) facility — Western Australia’s East Rockingham Resource Recovery Facility (ERRRF).
The ERRRF project is being developed by a consortium that includes New Energy Corporation, an Australian waste-to-energy innovator; Abu Dhabi based advisory firm, Tribe Infrastructure Group; and the Swiss-Japanese waste energy company, Hitachi Zosen INOVA.
The projects equity investors include UK’s John Laing Investments and Spain’s Acciona Cencesiones as well as Hitachi Zosen INOVA.
Located 40 kilometres south of Perth, the A$495 million project began construction in January 2020. Upon completion it will process 330,000 tonnes per year of non-recyclable municipal, commercial and industrial waste.
On current projections, the plant will generate 29MW of base-load power. It will also recover approximately 700,000 tonnes of bottom ash per year, for use in road bases and other construction materials.
The investment was signed on 14th January, during Abu Dhabi Sustainability Week.
Austrade has provided ongoing assistance to Masdar as the company seeks investment opportunities in Australia’s fast-growing renewables sector. This assistance included: coordinating Masdar’s first site visit to Australia; providing insights on regulatory approvals and energy policy; and introductions to Australian renewable energy stakeholders.
Masdar is a subsidiary of the Mubadala Investment Company, an Abu Dhabi Sovereign Investment fund. The agreement marks Masdar’s first investment in Australia.
The East Rockingham facility is backed by A$18 million in funding from the Australian Renewable Energy Agency. It will be the second largest WTE facility in Australia.