DIF Capital Partners, through DIF Infrastructure V (DIF), has announced that it has closed the acquisition of an additional 10% stake in the Dublin Waste to Energy PPP project. Together with its partner MEAG, DIF acquired the stake from the Green Investment Group (GIG). Following this transaction, DIF and MEAG together now hold 50% of the Project, with DIF holding the majority thereof. The Project is an operational waste to energy facility supported by a 45-year contract with Dublin City Council.

Located in Poolbeg, Dublin Port, the Project 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 Project benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who is also its long-term operator.