Waste Management completes sale of Wheelabrator Technologies

Waste Management completed the sale of Wheelabrator Technologies to Energy Capital Partners Friday for $1.94 billion. A definitive agreement for the sale was previously announced July 29.Wheelabrator will operate as a stand-alone company. Wheelabrator has 15 waste-to-energy facilities, including one in Saugus, four independent power-producing facilities, four ash monofills and three waste transfer stations. Waste Management will continue to be a Wheelabrator customer under long-term waste supply agreements.”We are pleased to join forces with Energy Capital Partners and benefit from their team’s substantial capital base, power-generation expertise, and experience in clean energy and environmental infrastructure,” said Mark A. Weidman, president and CEO of Wheelabrator.Wheelabrator has an annual waste-processing capacity of more than 7.4 million tons, and a total combined electric generating capacity of 768 megawatts – enough energy to power more than 645,000 homes. Wheelabrator facilities also recover metals from ash for recycling into commercial products.Energy Capital Partners is an energy-focused private equity firm with more than $13 billion in capital commitments, and offices in New Jersey, Houston and San Diego.