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Veolia Signs $505 Million Wood-Chip Power Plant Deal in Ireland

Veolia Environnement SA’s Irish unit won a 450 million-euro ($505 million) deal to operate a wood-fueled biomass power plant in the country’s west.

Veolia won a 15-year contract from Mayo Renewable Power to operate the 42.5-megawatt heat and power plant producing enough electricity to supply 68,000 homes, it said in a statement Monday. The site is due to start operating in mid-2017, it said.

“This facility is Ireland’s largest independent biomass power plant and for Veolia represents the largest of its kind under our management in Ireland and the U.K.,” Estelle Brachlianoff, senior executive vice president U.K. and Ireland for Veolia, said by e-mail.

Ireland plans to get 40 percent of its power needs from renewables by 2020

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