Republic Services joint venture with Archaea Energy
Davis Polk advised Republic Services, Inc. on its joint venture with Archaea Energy, Inc. to develop 39 renewable natural gas (RNG) projects across the country. Archaea Energy will contribute approximately $800 million, and Republic will contribute approximately $300 million for total investment of approximately $1.1 billion into the joint venture over the course of five years. The partnership, the country’s largest RNG portfolio build-out to date, will convert landfill gas into pipeline-quality RNG that can be used for a variety of applications to displace gas from fossil fuels.
Construction is slated to begin on projects in late 2022, with completion and commissioning of the projects planned through 2027. When fully operational, the 39 projects are expected to generate more than 12.5 million MMBtu of RNG annually.
Republic Services is a leader in the U.S. environmental services industry. Archaea is one of the largest RNG producers in the United States, with an industry-leading RNG platform primarily focused on capturing and converting waste emissions from landfills into low-carbon RNG and electricity.
The Davis Polk corporate team included partner Marc O. Williams and associates Kristy Choi and Justin Peroff. The tax team included partner William A. Curran and associate Dylan J. Steiner. All members of the Davis Polk team are based in the New York office.