Veolia Ireland eyeing more contracts and takeovers

Veolia Ireland is looking to follow up its recent contract to operate a huge biomass power plant in Mayo with similar project wins in Dublin and Belfast.

The resource management company — which provides water, waste and energy management solutions —hopes to be operating the Dublin and Belfast plants by 2019, two years after the Mayo facility is up and running.

Yesterday, Veolia announced the creation of 300 new jobs to come on stream over the next five years, which will boost its Irish workforce to 800.

It also said it is effectively on the M&A trail and is looking at a number of opportunities; in terms of buying unused hazardous waste facilities and company takeovers.

“We are now poised for expansion in the Irish market, targeting double-digit growth annually over the next five years and creating 300 new jobs,” said Pat Gilroy, the French multinational’s country manager for Ireland.

“As we transition to a low carbon economy, it is imperative companies can access environmentally sustainable solutions.

Veolia reveals its new strategic plan for the 2016-2018 period during its Investor Day https://t.co/Ov0M5fQose pic.twitter.com/042EUmZ7Aa

— Veolia (@Veolia) December 14, 2015

"We are setting out to do just that, providing businesses in Ireland with the means to manage their resource needs more efficiently and grow with us in a circular economy.”

Veolia Ireland’s two most recent project wins were the aforementioned biomass power plant in Killala, Co Mayo — which will become operational next year and will be operated by the company on behalf of Mayo Renewable Power — and operator status for an Irish Water-owned waste water treatment plant in Co Donegal.

The new jobs will largely be relevant to those projects.

The €450m Mayo project is set to be Ireland’s largest biomass power plant.

The proposed Dublin and Belfast projects — which Veolia will operate on behalf of third parties — are likely to cost around €150m each.

In terms of its own future investments, Veolia is eyeing unused facility and/or company takeovers in the €10m-€50m price range.

Veolia still owns a 20% stake in Luas operator, Transdev, but is gradually winding down its transport assets in order to solely focus on its utilities solutions business.