October 2005

Covanta Energy expands and extends waste contracts

Fairfield, NJ— Covanta Energy Corporation has announced the execution of contracts with Hillsborough County, Florida to construct, operate and maintain an estimated $106 million expansion to the Hillsborough County Solid Waste Energy Recovery Facility (facility). Covanta’s subsidiary constructed the facility and has been operating it since 1987. Construction of the expansion should begin in mid to late 2006 once necessary permits are obtained by the County, with completion expected within 28 months.

Covanta’s original 20-year contract with the County to operate and maintain the facility has also been amended to include the expansion and to extend the contract for another 20 years during which Covanta will continue to meet operating and environmental performance standards.

The Facility’s three boiler units, utilizing the proprietary combustion grate and controls technology of Martin GmbH, annually process over 372,000 tons of residential and commercial solid waste generated in the county. Waste is converted first to steam and then to electricity which is sold to Tampa Electric Company. With the expansion, a fourth boiler unit, also featuring Martin technology, will be added to increase annual processing capability by approximately 190,000 tons of solid waste per year.

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