OAK Utility Solutions and Development, a Bahrain-based solutions provider, has secured a Ukraine government assignment to implement and construct an 'energy-from-waste' utility in the country, it was announced.

The solution is based on 'advanced modular technology' that will convert 140,000 tonnes per year of municipal solid and additional homogeneous waste into electricity, said a report in the Gulf Daily News (GDN), our sister publication.

The project is being executed as a public-private partnership and the assignment capital expenditure is valued at $70 million.

It is backed by a long-term Government Concession Agreement and will leverage private equity funding originating from Gulf-based investment firms.

Following the detailed engineering phase of works, OAK will also lead the project consortium, managing the delivery and construction, as well as providing operations and management support throughout the 25-year concessionary term.

“This underpins OAK's model of constructing multiple boutique clean-tech utility plants which are in high global demand,” OAK chief executive Gareth Brown said.

“It places OAK in Bahrain as a net exporter of waste processing and energy solutions across Europe and Mena, resulting in the production of electricity and/or commodities such as syngas and fuel oil as major by-products of our engineered solutions.

“We are able to present investors with low-risk, high-yield investment opportunities, leveraging proven technologies which generate healthy returns.”

This is the company's second waste-to-energy project assignment, and the first one was in Adana, Turkey. - TradeArabia News Service