Waste Management, Inc. (NYSE: WMI) has announced a major national initiative to expand its roster of landfill gas to energy facilities. The program will result in the creation of an additional 60 renewable energy facilities across the United States — including the potential of two additional facilities in South Carolina –over the next five years. WMI currently operates similar facilities at Elgin and Wellford. The two plants generate nearly 16 MW of electricity — enough to power 15,000 homes per year. The company is also two other landfills in St. George and Ridgeland, which could host a gas to energy facility. As part of the national initiative, WMI will generate more than 700 megawatts of clean renewable energy — enough to power 700,000 homes or replace over eight million barrels of oil per year.
The company has also announced a new environmental initiative that will invest up to $500 million over the next decade to increase the fuel efficiency of its fleet by 15 percent. Other plans include a 15 percent reduction of fuel emissions by 2020, doubling waste-based energy production to provide energy to more than two million homes by 2020, and more than doubling the amount of recyclables handled from 8 million to 20 million tonnes annually by 2020.