OPAL, Republic team up for RNG plant in North Carolina
OPAL Fuels (Nasdaq: OPAL) announced that it has entered into a joint venture with an affiliate of environmental services leader Republic Services, Inc. (NYSE: RSG) for a new biogas-to-renewable natural gas ('RNG') facility at Republic's Charlotte Motor Speedway Landfill in Concord, North Carolina.
The new RNG facility, owned jointly by OPAL and its minority partner, a Republic Services affiliate, will have an initial annual design capacity of approximately 1.4 million MMBtu. This project is a conversion of an existing OPAL-owned renewable electricity facility at the site, and the joint venture has executed a new long-term gas rights agreement for the RNG plant. OPAL has already made investments into the construction of this facility and it is expected to come online consistent with recent RNG project timelines.
Using proven technology, the project will capture biomethane produced naturally from the decomposition of organic material from the landfill and convert it into RNG, a low-carbon, low-cost transportation fuel.
'This facility further advances OPAL Fuels' positioning as a leader in the development, operation, and distribution of RNG that provides a sustainable and cost-effective fuel solution for fleets,' said Jonathan Maurer, co-CEO, OPAL Fuels. 'We appreciate increased collaboration with best-in-class partners as we continue to bring cost effective solutions for partners, fleet customers, and the local communities they serve.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
OPAL Fuels and a Republic Services affiliate have formed a joint venture to develop an RNG facility at the Charlotte Motor Speedway Landfill in North Carolina. The plant will convert landfill gas into renewable natural gas, with a design capacity of ~1.4M MMBtu annually. This project repurposes an existing OPAL electricity site and aligns with OPAL's clean fuel growth strategy.
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