The project

Avertas Energy is a waste-to-energy (WtE) project in the Kwinana industrial area, 40km south of Perth, Australia. Using proven state-of-the-art moving grate combustion technology, the facility will process 400,000 tonnes of residual, post-recycling waste per year and deliver 36MW of baseload electricity to the grid. Avertas Energy will be Australia’s first large-scale thermal WtE facility.

DIF acquired a 60% interest in the project through two of its funds: DIF IV and DIF V. Construction of the project is expected to cost AUS$430 million, and is underpinned by long-term waste supply contracts, including 20-year municipal waste supply agreements with two regional councils.

Status
Construction
Investment date
October 2018
Country
Australia
Fund
DIF IV & V
Lorry leaving a depo
400k
Tonnes recycled waste
36MW
Baseload electricity
20yr
Municipal waste supply agreements
60%
Equity stake

Acciona will construct the facility under a turnkey contract, with Veolia to operate and maintain the facility under a 25-year operations and maintenance agreement. The facility will generate clean energy to power 50,000 households every year.

The facility will also recover and recycle metals, with the remaining ash residue used as a construction material. We are proud that Avertas Energy won the PFI Award for Asia Pacific Clean Energy Deal of the Year 2018. In partnership with its co-shareholder Macquarie Capital, DIF will use its expertise of investing in greenfield construction projects to ensure that the project is completed safely, on time and in a sustainable manner. During operations, DIF will focus on maximising the utilisation of the plant.