Duncan-Williams turning trash to treasure with Texas bond sale
Duncan-Williams Inc.[6] has completed a $9 million taxable revenue bond issue to finance the construction of an unusual waste-to-energy project in San Antonio, one of just a few bond issues in the U.S. for a landfill gas-to-electricity project.
The Memphis firm was a co-senior manager on the bond issue with Dallas-based Friedman, Luzzatto & Co.
The landfill gas-to-electricity power plant, expected to be commercially operational by the close of 2013, will be constructed at the Nelson Gardens Landfill, owned by the City of San Antonio.
The purpose of the project is to capture methane emitted from decomposing waste in the landfill to produce electricity. When completed, Nelson Gardens is projected to produce 4 megawatts of electricity annually.
"We were successful in getting the bonds sold in light of the challenges presented by the relatively small size of the deal and the limited number of previous landfill gas-to-electricity projects financed through the bond market,” said Wayne Breunig[7], Duncan-Williams managing director. "We have been looking at the alternative energy marketplace for a number of years for viable financing opportunities, but it's a difficult area because most projects aren't feasible without governmental support."
Rob Robertson covers banking and finance, health care, law, insurance and economic development. Contact him at This email address is being protected from spambots. You need JavaScript enabled to view it.[8].
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