The company that owns and operates the trash-to-energy plant in South Baltimore was sold Friday.
Wheelabrator Technologies Inc. announced that Energy Capital Partners closed on its $1.94 billion acquisition of the Hampton, N.H.-based company from Waste Management Corp. The sale was announced in July.
After the acquisition by the private equity firm, Wheelabrator will operate as a standalone company. Aside from the Baltimore facility off Russell Street in the Carroll-Camden area, Wheelabrator operates 14 other energy-from-waste facilities, four independent power-producing facilities, four ash monofills and three waste transfer stations.
Waste Management, one of the nation's largest garbage companies, will continue to supply Wheelabrator's plants under long-term deals.
The Baltimore plant processed and burns up to 2,250 tons of trash from Baltimore city and county each day and is capable of generating 60,000 kilowatts of electricity, enough to supply power 68,000 to homes. It also supplies steam to the city's downtown heating loop.