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Thursday 23 November 2017

US and Danish partnership will operate plant

Ailish O'Hora

Ailish O'Hora

COVANTA Energy Ireland is the 51pc shareholder in Dublin Waste to Energy, the private company that will operate the €350m Poolbeg plant.

Covanta's Danish partner, Dong Energy, has 49pc of Dublin Waste, according to recent filings at the Companies Office.

The ultimate parent firm of Covanta Energy is New Jersey-based Covanta Holding Corporation, which announced in December that the Dublin plant was going ahead.

Recent filings in Dublin show that Dublin Waste to Energy had a loss at the end of 2008 of $84,243 (€59,600) and a deficit on its capital and reserves of €118,645.

The directors of the company are all resident in the US, the UK or Denmark.

The company's managing director is Malcolm Chilton, who is resident in Britain, while the chairman is Jens Christian Clausen, who lives in Denmark. The company is headquartered in Fairfield, New Jersey.

In 2008 it had sales of $1.7bn (€1.2bn) and profits of $139.3m.

Irish Independent

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