Covanta finishes $12M sale of hydroelectric project in Wash.

Morristown-based Covanta Holding Corp., a sustainable waste and energy solutions provider, announced Wednesday it has completed the $12 million sale of its interest in a hydroelectric project to Atlantic Power Corp.

The Koma Kulshan project is a 13 megawatt hydroelectric project in Seattle, Washington.

“We are pleased to receive fair value for an asset outside of our core business. This transaction demonstrates our wider plan to rationalize our assets as we strive to improve returns and sharpen our focus on our energy-from-waste business,” Stephen J. Jones, Covanta’s CEO and president.