JANUARY 2008

Covanta Holding and GDIH to develop energy projects in Southeast China

Covanta Holding Corporation (Covanta) announced that is has taken a 40 percent stake in a joint venture with Guangzhou Development Industry Co., Ltd. (GDIH) to develop energy-from-waste projects in the Guangdong Province of Southeast China.

GDIH is one of the largest power companies in China’s Guangdong Province and has extensive experience in energy and electric power development, construction, operation and management.

The new company, which will be known as Guangzhou Development Covanta Environmental Energy Co., Ltd, will design, build, own, and operate new energy-from-waste facilities throughout the region, which includes Guangdong Province and several of its major cities including Guangzhou, Shenzhen, Zhuhai, Dongguan, Zhongshan, Foshan, Huizhou, Jiangmen and Zhaoqing.

China generates an estimated 280 million tons of municipal solid waste annually, most of which is currently being disposed of via landfilling. The Chinese Ministry of Construction has outlined a National Waste Disposal Plan to increase energy-from-waste from 2005 levels of less than 2 percent of waste disposal to 30 percent of total municipal waste disposal by 2030.