In January 2020, Masdar made its first investment in Australia after acquiring a stake in the country’s second utility-scale waste-to-energy (WTE) facility, East Rockingham Waste to Energy.
Under the terms of the investment, Masdar and leading Abu Dhabi advisory and development firm Tribe Infrastructure Group invested in the waste-to-energy project via their Abu Dhabi Global Market-based joint venture holding company, Masdar Tribe Energy Holdings Limited, which has acquired a 40 per cent stake in East Rockingham Waste to Energy.
Financial close on the A$511 million greenfield project, which will be located in the Rockingham Industry Zone, 40km south of Perth in Western Australia, was achieved on December 23, 2019, and construction has commenced.
When completed, East Rockingham Waste to Energy will process 300,000 tonnes per annum of non-recyclable municipal, commercial and industrial waste and up to 30,000 tonnes of biosolids per annum.
The facility will also recover approximately 70,000 tonnes per annum (TPA) of bottom ash, which will be processed for use in road bases and other construction materials.
The WTE facility will generate 29 megawatts (MW) of baseload renewable energy, enough to power more than 36,000 homes, and displace more than 300,000 tonnes of CO₂ emissions per year.
Equity investors in the project also include UK company John Laing Investments, Acciona Concesiones and Hitachi Zosen INOVA (HZI).
Financing of the project was supported by an A$18 million grant from the Australian Renewable Energy Agency (ARENA) and A$57.5 million in subordinated debt from the Australian government’s Clean Energy Finance Corporation (CEFC).