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An Australian-Middle Eastern consortium will develop a state-of-the-art facility to transform waste into energy at Parkes, New South Wales.
Parkes Energy Recovery is a consortium of companies led by Tribe Infrastructure Group (Tribe), an investment firm based in the United Arab Emirates. Along with Tribe, the group includes Tadweer Group, HiQ Group (HiQ) and Kanadevia Inova (KVI).
The consortium of international companies was selected by the Regional Growth NSW Development Corporation (RGDC) to deliver the Parkes Energy Recovery facility.
The proposed facility will use technology from KVI to divert an estimated 600,000 tonnes of waste per annum from landfill. It will generate at least 60 megawatts of energy – enough to power 80,000 homes per year.
The anticipated capital investment of A$1.5 billion is the largest single investment in the history of Parkes. The facility will be located in the Parkes Special Activation Precinct.
‘One of the most exciting things about this facility is that it may be a catalyst for businesses within the Parkes Precinct, with 60 megawatts of available baseload power and high-pressure steam and heat available to interested off-takers,’ says Mayor of Parkes Shire, Councillor Neil Westcott.
The consortium will begin the planning and environmental approvals process for the facility that it will design, fund, own and operate on land leased from RGDC.
Austrade supports investors in Australia’s green economy
‘What we’re aiming to do is part of the transformation of Australia’s waste industry to a circular economy; as large and challenging an opportunity in Australia as it is globally,’ says Peter McCreanor, Tribe’s founder and CEO.
‘Parkes Energy Recovery depends upon partners like Austrade to be successful and we thank Austrade for their continued support.
‘Over our nine-year journey in Australia, Austrade has consistently acted as a trusted partner and confidant, assisting us to navigate the complex situations that major projects face,’ he explains.
Austrade General Manager for Middle East, Africa and the Pakistan Bryony Hilless and Ambassador to the UAE Ridwaan Jadwat meeting with the CEOs of Tadweer Group and Tribe Infrastructure Group in Abu Dhabi to discuss the project plans.
Australia’s growing green economy and adoption of circular principles is creating opportunities for international companies with expertise in areas such as plastics recycling, food and garden organics processing, and waste-to-energy technologies, says Bryony Hilless, Austrade’s General Manager for the Middle East, Africa and Pakistan.
‘Austrade facilitates foreign direct investment into Australia across priority sectors, like the circular economy. Our specialists in Australia and around the world assist investors with industry and government contacts, market insights and connections to early-stage opportunities,’ she says.
Opportunities in the circular economy sector
Global waste solutions company BRIGHTMARK is another investor in the Parkes Precinct. The company is building a plastics renewal facility, which will be the largest of its type outside the United States and a first for Australia in advanced plastic recycling.
French-headquartered environmental solutions company Veolia is another global player seizing circular economy opportunities in Australia. CEO and Managing Director of Veolia ANZ Richard Kirkman points to Australia’s natural advantages – for example, space available to build large-scale facilities and its ability to produce renewable energy to drive the circular economy.
More about Australia's Energy and resources sector.
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