The Quezon City government has granted the consortium Metro Pacific Investment Corporation (MPIC), Covanta Energy, LLC and Macquarie Group, Ltd. original proponent status (OPS) to design, construct, finance, and operate an Integrated Solid Waste Management facility (ISWM).
In a disclosure to the Philippine Stock Exchange, MPIC said that the ISWM facility will be capable of processing and converting around 3,000 metric tons a day of QC’s solid waste into 42 megawatts (MW) of renewable energy.
This could power around 60,000 to 90,000 homes.
“An Integrated Solid Waste Management facility is a sustainable approach to society’s use of resources to reduce the amount of waste that must be placed in landfills for disposal while being environmentally responsive,” MPIC President and Chief Executive Officer Jose Ma. K Lim said.
Lim added that the solid waste due to economic growth and urbanization has become a challenge for local government in assuring effective and sustainable waste management.
Under the original proponent of the project, the consortium will have exclusive rights to enter into detailed negotiations with the QC Local government units.
The QC government believes that the project will provide an environmental, sustainable, long term, world – class waste management solution that can eliminate the need for landfilling and will provide the city other important fiscal and socio – economic benefits