PRESS ROOM

SPSA Receives Unsolicited Proposal for Acquisition of

Waste-To-Energy Facilities

    (Chesapeake, VA) – The Board of the Southeastern Public Service Authority of Virginia (SPSA) has received and accepted for conceptual phase consideration an unsolicited Public-Private Education Facilities and Infrastructure Act (PPEA) proposal from Covanta Energy Corporation for the acquisition of SPSA’s waste-to-energy facilities located in Portsmouth, Virginia. 

    SPSA will accept for simultaneous consideration under SPSA’s duly adopted PPEA Guidelines additional competing proposals for the acquisition of these facilities.  For consideration, competing proposals must be submitted to SPSA not later than 4:30 p.m., local time, on Friday, August 15, 2008.  Copies of a Notice regarding this matter and SPSA’s PPEA Guidelines will be posted on SPSA’s website today.

    Copies of the Covanta Proposal and any competing proposals are available for inspection and review at SPSA’s offices located at 723 Woodlake Drive, Chesapeake, Virginia 23320.  Parties who are interested in submitting competing proposals may contact ppeainquiries@spsa.com.

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I-820096.2