Morristown-based Covanta Holding Corp., a sustainable waste and energy solutions provider, announced Thursday it is acquiring a subsidiary of Babcock & Wilcox Enterprises Inc. with the operating and maintenance contracts for two Energy-from-Waste facilities in Florida for $45 million.
The facilities, Covanta said, are owned by the Solid Waste Authority of Palm Beach County.
The deal is expected to close in the third quarter of 2018.
“We are pleased to partner with the SWA on these two projects as they are a progressive special district that is committed to sustainable waste management. We look forward to demonstrating our best-in-class operating capabilities at these two high-performing, state-of-the-art facilities,” Stephen J. Jones, CEO and president, Covanta, said.
Covanta said it currently operates six EfW facilities in Florida.