Amsterdam puts ailing AEB waste incinerator up for sale
Amsterdam city hall has auctioned off its struggling waste incinerator Afval Energie Bedrijf.
AEB, which was billed as the country’s most innovative waste incinerator complex in 2006 and also provides city heating to 35,000 households, has been plagued by problems in recent years.
In 2019, four of the six incinerators had to be shut down for some time due to poor maintenance, and the city had to inject 35 million euros to prevent the plant from going bankrupt.
The board’s chief financial officer, Victor Everhardt, said the board and the company are now ready to sell and current market conditions allow the auction to proceed.
“AEB has made good progress over the past year, both operationally and financially,” he said.
The company will be sold in a controlled auction in the second half of the year and potential buyers will have to meet a number of conditions.
In particular, the city is seeking a new owner with a long-term perspective, given the factory’s role in treating waste and providing heat to private homes, the council said in a statement.
Earlier this year, the European Commission approved a restructuring plan for AEB, paving the way for the sale.
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