2023-07-10 17:01:22 ET
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Casella Waste Systems ( NASDAQ: CWST ) has signed an agreement with Waga Energy to develop renewable natural gas facilities at three Casella landfills, the waste management firm said Monday.
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Waga Energy will deploy capital to fully fund the construction of the projects and will own and operate the RNG infrastructure.
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Casella and Waga Energy will share the revenue generated from the RNG facilities once they are operational.
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Commercial operations are expected to start in about 24 months, given the timeline for permitting and construction.
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The initial production across Casella's three sites is expected to total about 1,300,000 MMBtu per year of RNG.
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Casella will receive a royalty stream from Waga Energy for supplying landfill gas to the RNG facilities.
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The projects may be entitled to investment tax credits as part of the Inflation Reduction Act, Casella said.
For further details see:
Casella Waste Systems, Waga Energy sign agreement for RNG production project