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Stock Market & Financial Investment News

News Breaks
March 31, 2014
07:54 EDTCVACovanta upgraded to Strong Buy from Outperform at Raymond James
News For CVA From The Last 14 Days
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September 19, 2014
09:35 EDTCVACovanta commences construction of Dublin waste-to-energy facility
Covanta announced that it has executed an agreement with the Dublin City Council to build, own and operate a 600,000 metric tonne per year, 58 net megawatt Energy-from-Waste facility in Dublin, Ireland . The company also announced that it has achieved financial close on a comprehensive project financing package and plans to commence construction of the project immediately. Facility construction is expected to take approximately three years, with commencement of operations targeted for late 2017. The total investment in the construction of the facility will be approximately EUR 500M, funded by a combination of third party non-recourse project financing and project equity invested by Covanta. The third party project funding includes EUR 300M of project debt, representing approximately 60% leverage, and a EUR 75M convertible preferred investment by the energy infrastructure arm of First Reserve, one of the world's leading private equity and infrastructure investment firms in the energy sector.

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