SOURCE: Covanta Energy

Covanta Energy

September 04, 2013 09:58 ET

Hillsborough County's Resource Recovery Facility Generating Verified Carbon Offset Credits to Sell

TAMPA, FL--(Marketwired - Sep 4, 2013) -   Carbon offset credits generated by Hillsborough County's Resource Recovery Facility, operated by Covanta Energy, have been verified and are now available for purchase on the voluntary market.

The credits represent verified reductions in net greenhouse gas emissions achieved by generating renewable energy-from-waste at the Resource Recovery Facility. The facility, located at 350 Falkenburg Road, processes up to 1,800 tons of solid waste a day, generating up to 46.5 megawatts of electricity -- enough to power approximately 30,000 homes.

Hillsborough County's offset credits were approved through the Verified Carbon Standard (VCS). The VCS is a highly-regarded global standard for the approval of credible voluntary offset credits. In order for carbon offset credits to be approved under the standard, they must represent new reductions in greenhouse gas emissions, meet strict program requirements, and be independently verified by a qualified third party. The credits must be verified annually.

"Energy-from-Waste is a key component of sustainable waste management, a model the European Union has used with tremendous success to reduce greenhouse gas emissions and reduce the impact of waste," said Dr. Paul Gilman, Covanta's Chief Sustainability Officer. "These carbon offset credits are a tangible recognition of the greenhouse gas benefits of the Hillsborough County facility."

The Resource Recovery Facility was expanded in 2009 with the construction of a new 600-ton-per-day combustion unit. Because Unit No. 4 was installed after 2002, it is eligible to be evaluated for carbon emissions offsets. The facility produced more than 33,000 carbon units in 2010.

Hillsborough County is partnering with Covanta, which is contracted by the County to operate the facility, to sell the carbon credits. According to Covanta, Hillsborough's facility is only the second waste-to-energy plant in the United States to produce carbon offset credits for the voluntary market. Lee County's Resource Recovery Facility made their credits available in 2010.

About Hillsborough County
Hillsborough County is located midway on the west coast of Florida and is home to more than 1.2 million people. The thriving and diverse community boasts a wide variety of work, educational, recreational and cultural opportunities, a nationally-known sea port and airport, tourist attractions, major entertainment and event venues, professional sports teams, beautiful parks and an abundant agricultural industry. Unincorporated Hillsborough County is governed by a seven-member elected Board of County Commissioners whose offices are located in the 28-story Frederick B. Karl County Center in downtown Tampa. For more information, visit www.HillsboroughCounty.org.

About Covanta
Covanta is a world leader in sustainable waste management and renewable energy. The Company's 45 Energy-from-Waste facilities provide communities and businesses around the world with an environmentally sound solution to their solid waste disposal needs by using waste to generate clean, renewable energy. Annually, Covanta's modern Energy-from-Waste facilities safely and securely convert approximately 20 million tons of waste into clean, renewable electricity to power one million homes and recycle over 430,000 tons of metal. Energy-from-Waste facilities reduce greenhouse gases, complement recycling and are a critical component to sustainable solid waste management. For more information, visit www.covantaenergy.com.