PARIS & LONDON--(BUSINESS WIRE)--Regulatory News:
Veolia (Paris: VIE) has just signed a 30 year contract with Hertfordshire County Council worth £1 billion reinforcing its partnership with this county north of London. This project will recover energy from residual waste.
The energy recovery facility proposed by Veolia will make a major contribution towards meeting ambitious targets for waste management at the national level. It will generate up to 33.5 megawatts (MW) of electricity from the 350,000 tonnes of potential residual ‘black bin’ waste (that cannot be reused, recycled or composted) each year.
This represents a significant investment by Veolia in Hertfordshire and more widely in the United Kingdom. Centered on the development of an efficient facility, this sustainable approach is the best solution to Hertfordshire’s waste challenge and will create more than 300 jobs during construction and 40 permanent jobs once the facility is operational.
Estelle Brachlianoff, Senior Executive Vice President Veolia UK and Ireland: “Our partnership with Hertfordshire County Council has been strengthened following this new contract that will result in a significant investment in waste treatment infrastructure. This solution will not only maximise landfill diversion, but also represents a source of low carbon energy which will power 69,000 homes per year.”
Subject to planning permission, the construction work of the energy recovery facility will start in 2017, and will be operational in 2020.
Veolia group is the global leader in optimised resource management. With over 174 000 employees worldwide, the Group designs and provides water, waste and energy management solutions that contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them.
In 2015, the Veolia group supplied 100 million people with drinking water and 63 million people with wastewater service, produced 63 million megawatt hours of energy and converted 42.9 million metric tons of waste into new materials and energy. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €25 billion in 2015. www.veolia.com