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Covanta taking over operation of two plants in FL +2
17:10 09-Aug-18
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.