Adjacent to BEEAH’s Material Recovery Facility, the plant processes up to 328,000 tonnes of municipal waste annually, diverting over 300,000 tonnes from landfills and contributing to Sharjah’s zero-waste goals. Using advanced multi-fuel technology, it generates 30 MW of electricity, directly powering Sharjah’s grid.
Since operations began in 2023, the facility, operated by a joint venture including Veolia, has processed 500,000 tonnes of waste, showcasing Veolia’s global expertise in waste-to-energy operations and maintenance.
Tribe’s Role
The successful refinancing raised $155 million in senior debt, securing the long-term financial sustainability of the project and demonstrating Tribe’s ability to deliver tailored financial solutions under highly complex circumstances on tight deadlines.
As part of its refinancing mandate, the team rebuilt the financial model from the ground up, led the market sounding and refinancing lender selection exercises, and managed the due diligence process in collaboration with legal and technical advisors. Tribe also took the lead in the negotiations and execution of all financing documents.
Prior to the closing of the refinancing, the project had experienced numerous difficulties in keeping with its target construction budget and timeline, largely brought about by severe liquidity issues faced by its contractor before the project could be completed.
During this challenging time, Tribe not only provided its financial expertise to the project sponsors through its management of ongoing discussions with existing lenders, but also played a pivotal role in other key strategic aspects of the transaction including the appointment of a highly qualified replacement O&M contractor.
The Sharjah Waste-to-Energy Facility highlights Tribe’s versatility and project development expertise, enabling it to deliver value across diverse infrastructure sectors. From financial structuring to refinancing and operational optimization, Tribe navigates complexity to unlock long-term value — as demonstrated by successful outcomes in renewable energy, waste-to-energy, and other critical projects.
Pete McCreanor, CEO, Tribe Infrastructure Group
“The Sharjah Waste-to-Energy Project exemplifies how strategic financial advisory can enable groundbreaking sustainability initiatives. By successfully navigating complex refinancing challenges, Tribe Infrastructure Group ensured the project’s financial sustainability, reinforcing our commitment to delivering tailored solutions that drive environmental and economic progress.”
Justin Chan, Senior Vice President, Tribe Infrastructure Group
“Our role in the Sharjah Waste-to-Energy Project highlights Tribe Infrastructure Group’s ability to manage high-stakes transactions under tight timelines. From crafting a robust refinancing strategy to securing $155 million in senior debt, we ensured the sponsors had the financial framework needed to achieve their vision of a zero-waste Sharjah.”
Summary
The Sharjah Waste-to-Energy (WtE) Project, supported by Tribe Infrastructure Group as the sole financial advisor, is a critical step in helping Sharjah achieve its “zero waste-to-landfill” goal and advancing the UAE’s objective to divert 75% of solid waste from landfills. Tribe’s expertise ensured the project’s long-term financial sustainability, enabling the facility to continue its vital role in sustainable waste management and clean energy production.