Foster Wheeler USA Corp Sells Camden Resource Recovery Facility
Energy From Waste Facility Trades for $48.6M
September 4, 2013
Covanta Holding Corporation purchased the Camden Resource Recovery Facility at 600 Morgan St. in Camden, NJ from Foster Wheeler USA Corporation for $48.6 million, or about $163 per square foot.
The 297,930-square-foot facility sits on 18.8 acres and is capable of producing upwards of 146,000 megawatt hours of electricity in a year. This facility burns 1,050 tons of waste per day, converting it to usable energy.
Covanta is a waste disposal and renewable energy production company. This facility is the fourth of its kind for the company in New Jersey.
"We are excited to expand our portfolio of energy-from-waste facilities with the strategic and opportunistic acquisition. We have a strong track record of successfully integrating businesses and we look forward to welcoming new clients and employees into the Covanta family," said Anthony Orlando, Covanta's CEO and president.
Please see CoStar COMPS #2818232 for more information on the transaction.