Bluesphere to collaborate with Alfa Eco

Two companies plan to build and operate waste-to-energy facilities throughout the world.

March 12, 2014
REW Staff
Bluesphere Corp., an Israel-based company that develops, manages and owns a number of waste-to-energy (WTE) projects, has announced that its wholly owned subsidiary has signed a joint venture agreement with Alfa Eco Corp., based in New York, to develop turnkey and build, own and operate WTE projects. Each company will have a 50-percent stake in the joint venture.

Through the joint venture, Alfa Eco will provide and build, own and operate projects with all required components in place, while Bluesphere will arrange full financing and act as the project integrator on the projects.

Alfa Eco is a private business group that consists of direct investment funds owning and managing assets in a range of industries.

"We are very pleased to form this joint venture corporation with Alfa Eco, a company which has resources and relationships that can support the development of numerous joint waste-to-energy projects in partnership with Bluesphere," says Shlomi Palas, Bluesphere’s CEO. "Our ability to establish joint ventures, project financing and long-term revenue contracts with energy industry leaders such as Alfa Eco is a testament to Bluesphere's capabilities and reputation in the waste-to-energy market."

Bluesphere generates electricity from biogas derived from organic waste, and sells the electricity to electric companies through long-term power purchase agreements.