Covanta Holding Corporation (NYSE: CVA)

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2 Covanta Holding Corporation (NYSE: CVA) World s largest Energy-from-Waste (EfW) operator Global presence; local relationships North America, Asia & Europe 4,000+ employees 44 EfW and 8 biomass to electric facilities 20,000,000 Tons of MSW processed in 2010 Produced ~8% of U.S. non-hydro renewable electricity Handled over 6% of U.S. post recycled waste disposal 400,000+ tons of metal recycled each year Strong balance sheet & stable business 2010 revenues: $1.6 billion 2010 free cash flow: $392 million 2011 in line with targets and investor expectations Highly contracted revenue base Lee County EfW, Florida 2

3 Durham -York Energy Centre 41 EfW facilities: 240 to 3,000 Tons per day (TPD) 24 Martin Mass Burn 3 Refuse Derived Fuel (RDF) 4 O Connor Rotary Mass Burn 4 Fisia DBA Mass Burn 3 Enercon Mass Burn 1 Steinmuller Mass Burn 1 Aireal Mass Burn 13 Transfer Stations 3 Ashfills and one landfill 8 Biomass to electricity facilities 5 Landfill gas to energy facilities 2 Hydro electric facilities Hawaii 3

4 North America 600 TPD, $115M Lee County, FL EfW Facility Expansion Construction Complete October TPD, $125M Hillsborough, FL EfW Facility Expansion NTP in December 2006; Completed in TPD, $300M Honolulu, HI EfW Facility Expansion Started in Tonnes per day, $256M Clarington, ONT greenfield EfW, expected completion end of 2014 Europe 1,700 TPD, $350M ($EU) Dublin, Ireland Started in Dec 2009 HPOWER Expansion Project Asia 1800 TPD and 350 TPD, $100+M, Chengdu, China and Taixing, China Construction completed in 2011, Currently in Start-up 4

5 Technology, operating protocols, employee incentives and skilled operators result in superior environmental performance Typical operation 60-80% below EPA limits Leadership in developing/applying technologies LN (Low NOx)and VLN (Very Low NOx) )Technology Carbon injection for mercury control Tulsa Unit #3 (two stage combustion & gasification) Numerous awards Alexandria Facility of the Year Award, ASME New York Environmental Leaders Sustainable Florida Leadership Michigan Clean Corporate Citizen Kapolei Outstanding Environmental Achievement Award Culture of sustainability driven by Clean World Initiative 5

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7 Technology, ogy, operating protocols, oco employee incentives es and skilled operators result in superior environmental performance Typical facility operates 60-80% below EPA limits Leadership in developing/applying new technologies (LN & VLN, Mercury Control) Roughly 6,000 stack tests over past 10 years resulted in 20 exceedances (our goal is ZERO) Year Year Average Operating Hours(a) 636, , , , ,649 Compliance % , , , , , , % (a) Operating hours are for EfW combustion units 7

8 Safety is a core value and protects the firm s most valuable resource our employees STEP-UP Program Safety Today and Everyday is Paramount - Unleash the Power Covanta Americas Total Case Incident Rate (TCIR) and Days Away/Restricted/Transfer Rates (DART) ( ) vs. Bureau of Labor Statistics (BLS) Rate ( ) 8.00 BLS TCIR COV 2011 (Oct) TCIR is 73% better than industry average. COV 2011 (Oct) DART is 79% better than industry average. 41 Covanta facilities have earned the STAR Award, the highest national recognition given as part of OSHA s Voluntary Protection Program Covanta among Top 7 U.S. Companies in the prestigious VPP Star Program BLS DART COV TCIR COV DART (Oct) 8

9 1. Uses MSW as a fuel to generate electricity 2. Looks and operates like a conventional power plant with a boiler and turbine 3. Incorporates state-of-the-art emission controls CEMs, dioxin sampling, etc. 9

10 Modern incineration technology is remarkably clean and each plant can be put to use generating electricity for thousands of homes. Durham Leads on Trash Incineration, The Toronto Star, August 2007 DBO: state-of-the-art Energy-from-Waste (EfW) facility in Clarington, ONT Preliminary Architectural Rendering of EfW Facility Using proven Martin GmbH combustion technology to process 140,000 tonnes/year Creating hundreds of direct/indirect jobs during construction and >40 operation/plant/ administrative positions when operational Generating 17.5 megawatts of renewable energy, enough to power 11,000 to 15,000 homes Recovering several thousands of tonnes of metals that supplement current recycling programs Districting heating / Low pressure steam / Hot water applications for Energy Park 10

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12 Facility Size: Number of Trains: MJ/kg (Provisions for 1230 tonnes/day) 2 (218 13MJ/kg) Boiler Outlet Steam Conditions: 90.6 bar, 500ºC Turbine Rated dcapacity: approx. 20MW Condensing Mechanism: Number of Tipping Positions: 4 Number of Refuse Cranes: Air Cooled Condenser 2 (each sized for 761 tonnes/day) Number of Stacks: 1 (GEP Height 87.6 m) Metals Recovery: Ferrous and Nonferrous 12

13 MSW Delivery MSW delivered 6 days a week 7:00am to 7:00pm All deliveries go through scale house Only firms with contracts with Durham/York Region can deliver MSW Nominal 1 of every 10 trucks are inspected on tipping floor MSW Storage Pit capacity is 7 days at 436 Tonnes/day Nominal Pit size: 33.2m by 11.6m by 7.6m (L, W, D) Approx. 7,350 m 3 MSW Pit fabricated of high-strength reinforced concrete with water stop A portable sump pump will be available to provide removal of water from the pit, if ever necessary 13

14 Truck Deliveries Service contracts will define minimum standards and include penalties for failure to perform All trucks will have closed containers Tipping Hall Tipping hall maintained under negative pressure Combustion air drawn from the tipping i floor Intakes located above pit area All MSW held in the refuse pit Trucks will unload in the tipping hall. Tipping hall maintained under negative pressure. 14

15 Proven pit management procedures ensure waste turnover Manage delivery flows ensure trench for deliveries Regular mixing of waste Mix & feed from specific areas of the pit Manage accumulated water by routine digging down pit & mixing A portable sump pump will be available to provide removal of water from the pit, if ever necessary. 15

16 Normal operating conditions: 1 or 2 units on-line Negative pressure in tipping haul is used to prevent air and odors from leaving building. Air is used in combustion process. Louvers in outside wall are in open position during truck deliveries Truck entrance and exit are maintained i in closed position when trucks are not delivering MSW Louvers are manually operated Outage Condition: both units off-line Never a planned event All doors and louvers would be closed Odour complaints from mass burn facilities using the above procedures are not common. 16

17 Feed hopper is cooled with water jacket. 17

18 Durham York EA/CofA/Project Agreement Averaging Period Filterable Particulate Matter 9 mg/rm 3 Average of three tests Cadmium 7 ug/rm 3 Average of three tests Lead 50 ug/rm 3 Average of three tests Mercury 15 ug/rm3 Average of three tests Dioxins and Furans 60 pg/rm 3 as ITEQ Average of three tests Hydrogen Fluoride (HF) 0.9 mg/rm 3 Average of three tests Organic Matter 33 mg/rm 3 Average of three tests Combined Trace Metals 460 mg/rm 3 Average of three tests Cadmium and Thalium 46 mg/rm 3 Average of three tests Hydrogen Chloride (HCl) 9 mg/rm 3 24 hr CEM Sulphur Dioxide (SO 2 ) 35 mg/rm 3 24 hr CEM Nitrogen Oxides (NOx) 121 mg/rm 3 24 hr CEM Carbon Monoxide (CO) 40 mg/rm 3 4 hr CEM Opacity 10% 6 minute COM Opacity 5% 2 hour COM 18

19 Recirculating Dry Scrubber Carbon Injection Pulse Jet Baghouse Each combustion train has dedicated air pollution control equipment. 19

20 Stack Emissions Fourier Transform Infrared Spectroscopy (FTIR) Opacity CO, O 2, NOx, SO 2, HCl, HF, NH 3, Moisture Economizer O 2, SO 2, CO, CO 2, VOC, Flue Gas Flow Rate, Temperature Dioxin Sampler Dioxin sampling over a period of up to one month Electronic display board on facility exterior with real time emissions and most recent stack test results. 20

21 Bottom Ash discharger to wet ash for control of fugitive dust Grizzly scalper to remove oversize materials Magnetic separation for ferrous materials Eddy current separation for non-ferrous materials Stored in concrete bunkers in dedicated ash building Bottom ash will be landfilled as a nonhazardous residue Long term goal is to find beneficial re-use applications Fly ash collected separately Fly ash mixed in ash conditioner with Portland cement, Pozzolan and water for micro-encapsulation (chelating) Storage capacity of 21 days in seven discrete bunkers in dedicated ash building Front end loaders move conditioned fly ash from bunker to bunker Residue building has filtered ventilation system 21

22 Air Cooled Condenser Design: Approximately 10X Lower Water Consumption Zero discharge facility Potable water for fire protection, boiler feedwater, minimal wash-down water, feed hopper cooling, and irrigation Floor trenches drain to the settling basin Waste water used in ash discharger Boiler blowdown and RO reject water used for flue gas attemperation, fly ash conditioning and water supply to the settling basin Sanitary water discharged to the sewer Facility design maximizes re use of waste water with internal operations. Therefore no process water discharge will occur. 22

23 Combination of open and closed drainage system Storm water to the on-site retention ponds Pond discharge to the adjacent CN Rail Swale and finally to Tooley Creek Sediment and Erosion Control Plan during construction will be developed for the site. 23

24 Facility design includes noise mitigation Boiler and APC system located inside enclosure Noise controls applied to auxiliary equipment (i.e. fire pump, standby generator) Noise predictions will be verified using: Equipment specific manufacturer s data and/or Noise data from similar equipment Monitoring i at receptors located within 1 km (north, east and west) Confirm compliance with established limits during specific time periods 24

25 ISO Facility specific program implemented within 2 years of startup Modeled after Vancouver program Environmental Management System Software based system to facilitate all testing and reporting requirements Provides nationwide information sharing amongst all EfW facilities Will create a facility specific system that is integrated into a Corporate wide program. 25

26 MERCURY BOUNTY PROGRAMS STUDENT POSTER CONTESTS PUBLIC EFW TOURS LOCAL GREEN FAIRS FISHING FOR ENERGY ARBOR DAY / EARTH DAY EVENTS 26

27 The proposed thermal treatment facility will benefit the communities in the Regional Municipalities of Durham and York. Ontario Ministry of the Environment (MOE), Review of Environmental Assessment (EA) Notice to Proceed Effective August 17, 2011 Construction Duration per Project Agreement: 1215 days (Dec.13, 2014) Preliminary Architectural Rendering of EfW Facility Mobilization on Site: January 2012 Engineering started Major equipment ordered General Contractor t selection in process 27

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29 Thank you. 29