Masdar Expands Presence in Australia
Masdar has made its second investment in Australia after joining the Maryvale Energy from Waste (EfW) project in the state of Victoria as an equity partner.
Tribe has also joined as an equity partner in the development of the EfW facility, Opal Australian Paper and SUEZ Australia and New Zealand announced this week, with ACCIONA being selected as the construction partner.
”We are delighted to partner with Masdar, Tribe and ACCIONA. Securing their global expertise in developing EfW projects complements the proven SUEZ track record of operating 55 EfW facilities globally. The creation of this consortium is a major step forward in bringing the Maryvale EfW Project to fruition,” said Mr Mark Venhoek, CEO, SUEZ Australia and New Zealand.
”Masdar is proud to help advance Australia’s efforts to manage its waste sustainably while delivering cleaner sources of electricity for its citizens. It is a pleasure to join SUEZ and Opal Australian Paper as partners in this landmark project in Victoria, together with Tribe and ACCIONA. We look forward to leveraging our experience from similar projects such as East Rockingham Waste to Energy in Western Australia and the Sharjah Waste to Energy facility in the United Arab Emirates to contribute to the successful development of the Maryvale project,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
“We are thrilled to partner with Opal Australian Paper, SUEZ, Masdar and Tribe to deliver a sustainable infrastructure solution for Victoria that also provides a significant job boost to the region,” said Mr Bede Noonan, ACCIONA’s CEO in Australia & New Zealand. “ACCIONA has a strong track record in sustainability and this project will complement our current waste to energy portfolio in Australia with investments at Kwinana and Rockingham.”
The facility will initially comprise one processing line, providing a commercially efficient waste management solution for regional and metropolitan councils. The project will be delivered in time to address the pending closure of south-east Melbourne’s main landfill and a second line could be added in future to cater for the infrastructure requirements of Victoria’s growing population.
The Maryvale EfW facility will divert approximately 325,000 tonnes of non-recyclable waste from landfill and reuse it to generate steam and electricity to replace natural gas and coal fired electricity. The facility is aligned with Victoria’s circular economy policy and is expected to deliver significant reductions in greenhouse gas emissions. It will provide councils and industry with a meaningful alternative to landfill while meeting EPA Victoria’s stringent emissions standards.
The project will require an investment of around AU$500 million, supporting the economic recovery of Victoria and the Gippsland region. It is expected to deliver more than 500 jobs in Victoria and the Gippsland region during the three-year construction phase and additional regional jobs ongoing.
”We are excited to reach this new stage for the Maryvale EfW Project. This efficient state-of-the-art recovery facility will help to secure Maryvale Mill’s future energy needs, generate valuable jobs for the Latrobe Valley region and create essential waste management infrastructure for Victoria,” said Mr David Jettner, GM Corporate Development & Strategic Projects, Opal.
The project will reduce Victoria’s greenhouse gas emissions by more than 270,000 tonnes per annum. The net energy benefit to Victoria’s energy network will result in enough gas and electricity to power over 50,000 homes.
Construction of the Maryvale EfW facility is expected to commence in late 2021, with completion expected by early 2025.