In August 2013, the Company, together with CK Hutchison Holdings Limited (CKHH), CK Infrastructure Holdings Limited (CKI) and Li Ka Shing Foundation Limited (LKSF), acquired Dutch Enviro Energy in the Netherlands. Power Assets holds a 20% stake of Dutch Enviro Energy, while CKHH and CKI each holds a 35% stake, and the remaining 10% is held by LKSF.
Dutch Enviro Energy owns AVR-Afvalverwerking B.V. (AVR) which is the largest energy-from-waste business in the Netherlands. AVR has plants in Rozenburg, near Rotterdam and Duiven, close to the German border that converts waste into sustainable energy using incineration processes. The total capacity is around 1.7 million tonnes per annum. The electricity produced by AVR, as well as its steam and heat outputs are sold to nearby businesses and towns under long-term contracts.