Beijing Enterprises Holdings (BEHL) has entered into an agreement with EQT Infrastructure II (EQT) to acquire German-based EEW Energy from Waste (EEW), for approximately €1.4bn.

Expected to be completed during first quarter of this year, the deal is subject to securing an approval under German Foreign Trade and Payments Ordinance.

Claimed to be one of the largest energy-from-waste firms in the country, EEW operates 18 waste-incineration facilities. The Wall Street Journal reported that the facilities will generate around 1,900GW of electricity and 3,000GW of heat from waste every year, enought to power around 700,000 households.

BEHL executive director and vice-president Xinhao Jiang commented the news:

“EEW has an exceptional management team, solid track record, and strong expertise in constructing, operating and optimising state-of-the-art, energy-from-waste plants.” Before adding:

“We are confident that this transaction will introduce EEW’s operation excellence and know-how to the Chinese market, and improve our operation efficiency and management standards of waste business in China.”