Dive Summary:

• Lancaster County Solid Waste Management Authority (LCSWMA) acquired a waste-to-energy facility in Harrisburg, Pennsylvania for between $126 to $132 million, depending upon interest rates.
• LCSWMA will put in $5 million of equity; bonds will fulfill the remainder of the cost.
• The plant is currently operated by Covanta Energy with a contract running through December 31, 2017.

From the article:

"We are really excited to take over that facility," Warner [CEO of the organization] said about Harrisburg. "It's 59 acres, there's an ash fill. The facility is good. It works good. Covanta has done a great job."

But he said, the rest of the site, including ancillary facilities are "distressed. We have a very healthy capital investment schedule,” Warner said. "Nobody would ever look at our facilities and call them distressed. So we're going to bring them up to our standards.

"A court has to approve the plan on Sept. 18 and then there's a 30 day opportunity for appeal. After that, LCSWMA must market and sell bonds, with closing anticipated sometime around Nov. 18.