Waste Management and Pollution Control

Trash Plants In Bridgeport, Lisbon Change Hands In Private-Equity Deal

Two of Connecticut's trash-to-energy plants are being sold to a private-equity firm that specializes in energy investments.

Waste Management Inc. announced Tuesday it would sell its Wheelabrator business for $1.94 billion to Energy Capital Partners. The U.S. trash giant said ever-changing energy prices had made earnings unpredictable from its 17 trash-to-energy plants around the country.

Wheelabrator, which generated $845 million in revenue for Waste Management last year, owns plants in Bridgeport and Lisbon that together burn up to 2,750 tons per day of trash, creating heat and steam that spins turbines to make electricity. The company also owns an ash landfill in...