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Covanta taking over operation of two plants in FL +2


Covanta is taking over the operation of Palm Beach Renewable Energy Facilities 1 & 2 from Babcock & Wilcox by purchasing the relevant subsidiary for $45M.  The latter of these plants is the newest EfW plant in America, and combined they process almost 1.8 tons of waste and generate up to 155MW of energy per year.  This expands Covanta's business in Florida by over a third.

My take is that this is an example of the management excellence that I've always cited at Covanta.  It may well be that this news is what's behind the over-pricing of CVA shares, so I would not be inclined to chase them.