The consortium1 formed by SUEZ and its partners successfully concluded talks with IFC2 and EBRD, the main lenders of a €300 million non-recourse credit facility to finance, design, build and operate a 103 MW energy-from-waste facility and a demolition waste recycling unit, allowing the closure of one of the largest dumpsites still active in Europe.
By entering on September 30th into a €300 million non-recourse loan agreement with the International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD) and the Development Bank of Austria (OeEB), the consortium of SUEZ, Itochu and Marguerite is delivering on its commitment to finance, build and operate new waste management facilities as part of the €1.6 billion revenue, 25-year Public-Private Partnership concluded in 2017 with the City of Belgrade.
Planned infrastructure includes the construction of a 103 MW energy-from-waste facility, processing up to 43 tons of waste per hour, delivering power to the national grid and heat to Belgrade’s municipal district heating company, thus reducing its dependency on natural gas. Additional facilities include the construction of a waste recycling unit with a capacity of 200,000 tons per year of demolition waste and an engineered landfill with biogas recovery.
The consortium obtained all the required planning permissions to start construction, with full commercial operations planned to start in 2022.
All facilities will be operated by SUEZ under a 25-year, €400 million Operation & Maintenance contract. Developed by the City of Belgrade with the support of IFC Advisory2, this innovative PPP is designed as a model for mid-income countries willing to bundle the closure of their dumpsites with the development of new infrastructures, under a commercially viable scheme tapping into private sector’s finance and expertise.
The new facilities will allow to close and remediate the current Belgrade dumpsite located in the immediate suburbs of Vinča. Opened in 1977 on the banks of the Danube, this 40-hectare dumpsite is one of the 50 largest active in the world and the only one in Europe to be listed by the International Solid Waste Association3. Remediation works are part of the investment plan and will significantly contribute to improving the environmental impact as well as the water quality of the Danube.
This project is in line with the ambition of the plan Shaping SUEZ 2030, which provides, with all its stakeholders, to restore and preserve the planet for a more sustainable environment.
1 The Consortium of SUEZ, Itochu and Marguerite has incorporated Beo Čista Energija (BCE) as a special-purpose company for the purpose of the Belgrade PPP project
2 IFC (International Finance Corporation) is a member of the World Bank Group
3 “A Roadmap for Closing Waste Dumpsites – The World’s Most Polluted Places,” International Solid Waste Association, 2016; available at www.iswa.org/fileadmin/galleries/About%20ISWA/ISWA_Roadmap_Report.pdf.
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