DIF completes acquisition of 69 MW Dublin waste-to-energy project

DIF, through its most recent fund DIF Infrastructure V, has announced that it has closed the acquisition of a stake in the Dublin Waste to Energy PPP project. The project is an operational waste to energy facility supported by a 45 year contract with Dublin City Council. DIF Infrastructure V acquired the stake from Macquarie’s Green Investment Group Limited (GIG), who will remain a shareholder in the project.

Located in Poolbeg, Dublin Port processes 600,000 tonnes of residual waste annually and generates electricity which is exported to Ireland’s national grid – sufficient to power 80,000 homes. The facility has been designed to provide highly efficient incineration and is classified as energy recovery in line with EU policy on waste. The project is part of a wider Dublin regional waste management plan, which is aimed at reducing waste, maximizing recycling and generating energy from waste. The plant benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who are also its long term operators.

DIF was advised by Ashurst (Legal), PwC (Financial), Arup (Technical), SLR (Market) and Grant Thornton (Tax).