Sydney, Australia, November 26, 2020: Masdar, one of the world’s leading renewable energy companies, and Tribe Infrastructure Group, an infrastructure advisory and development firm, will strengthen their collaboration in the deployment of utility-scale energy-from-waste (EfW) projects by establishing a joint venture in Australia.
The announcement was made by the Honorable Christopher Pyne, Former Australian Defence Minister, and His Excellency Abdullah Al Subousi, UAE Ambassador to Australia, alongside Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Peter McCreanor, Tribe CEO, during the inauguration of the Australia-United Arab Emirates Business Council, which took place in Sydney, Australia.
The aim of the JV company is to develop EfW projects across Australia, as well as to support the delivery and management of these projects.
“Tribe and Masdar have the distinction of being the first companies to ink contracts that actively engage in business activity in Australia as part of the Australia UAE Business Council. Australia and the UAE have very strong connections, and the joint venture agreement between Masdar and Tribe for turning waste into energy is only the beginning of the relationship that the two companies will have across Australia,” said Hon Pyne.
“This is an exciting day for both the United Arab Emirates and Australia. I have no doubt that the Council will do a great job in enhancing our bilateral relations,” said HE Al Subousi.
HE added: “Masdar has been a great champion of the energy-from-waste sector. We are honored to see Masdar and Tribe come together to establish a joint venture company and I hope this can pave the way for future collaboration in additional sectors.”
“The Australian energy from waste sector provides excellent potential in the long-term. The signing of this agreement is a reflection of Masdar’s global clean energy ambitions and will further support Australia’s roadmap towards a low-carbon future,” said Al Ramahi.
He added: “We are pleased to be strengthening our partnership with Tribe and we look forward to leveraging our local and international experience and world-leading expertise to advance the energy from waste sector in Australia, following our entry into the market earlier this year.”
Tribe’s McCreanor, said: “We are delighted to announce our long-term partnership with Masdar and look forward to delivering world-class clean energy infrastructure projects for the communities in which we operate. Energy from waste is safe, reliable and affordable and we’re pleased to be at the forefront of bringing this technology to Australia. We look forward to delivering sustainable waste management solutions that provide superior environmental outcomes and make sound economic sense.”
Each year approximately 27 million tonnes of waste is landfilled in Australia, the equivalent of filling 75 Olympic swimming pools, yet there are currently no utility-scale energy from waste plants operating in the country. Australia represents an attractive market for investment in the EfW as part of a widespread push to help decarbonize the Australian economy.
In January 2020, Masdar and Tribe announced that they had acquired a 40 percent stake in the East Rockingham Waste to Energy project in Perth, Western Australia.
Construction on the A$511 million greenfield facility, which is located in the Rockingham Industry Zone, 40 kilometres south of Perth, is ongoing and the plant is expected to be operational in late 2022.
When completed, East Rockingham WTE will process 300,000 tonnes per year of non-recyclable residual municipal, commercial and industrial waste and up to 30,000 tonnes of biosolids per year.
The facility will also recover approximately 70,000 TPA of bottom ash, which will be processed for use in roadbase and other construction materials. The facility will generate 29 megawatts (MW) of baseload renewable energy, enough to power more than 36,000 homes, and displace more than 300,000 tonnes of CO2 emissions per year.
In October 2020, Opal Australian Paper and SUEZ Australia and New Zealand announced that Masdar and Tribe have joined them as additional equity partners for the development of the Maryvale EfW facility in Victoria.
The Maryvale EfW project will divert approximately 325,000 tonnes of non-recyclable residual waste from landfill and reuse it to generate steam and electricity to replace natural gas and coal fired electricity. The project is aligned with Victoria’s circular economy policy and is expected to deliver significant reductions in greenhouse gas emissions.
Masdar and Tribe are both founding members of the Australia United Arab Emirates Business Council, which was recently established to increase collaboration between the two countries. The Council is co-chaired by the Honorable Christopher Pyne, Former Australian Defence Minister, and Badr Al-Olama, Chairman of Strata Manufacturing and Executive Director of Aerospace at Mubadala Investment Company, Masdar’s shareholder.
Abu Dhabi’s renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in more than 30 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Spain, Serbia, India, Indonesia, Uzbekistan, and many more.
Tel enquiries in Arabic: +971 2 653 3333
Tel enquiries in English: +971 2 653 6014
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
About Tribe Infrastructure Group
Tribe Infrastructure Group is an independent infrastructure project finance firm headquartered in Abu Dhabi, UAE, with offices in Australia. Tribe provides infrastructure and utilities investment services to grantors, developers, investors and lenders, acting as advisor and co-development partner to meet the needs of the project. Tribe actively mobilises private capital to realise unique opportunities, harnessing its natural competencies in structuring and execution of projects to take early-stage investments through to successful financial close, construction and operation. Tribe focuses on energy from waste, district cooling and utilities in the Middle East, South-East Asia and Australia. www.tribeig.com.
Tribe Media Contact:
+61 437 820 374