Business case and project development

Energy transition

AEB Amsterdam’s transition to a circular economy operating model

AEB Amsterdam

AEB Amsterdam operates the largest incineration plant in the world. The company is transitioning to a circular economy operating model that includes waste-to-energy projects (i.e. heat, electricity, biogas) and urban mining (i.e. the recovery of reusable materials such as plastics and metals).


As the party responsible for executing the project, Twynstra Energy was responsible for developing the business case, functional specification, licenses, the tendering and financial close for the materials recovery plant (MRP), and integration into the operations of the current waste incineration plant.

Our vision

As the MRP is AEB’s first circular economy transition project, there is a lot of interest. Not only at AEB itself, but also among AEB’s shareholder and the waste recycling business in general. This transition project is a potential game changer for the industry.  As such, we were not only focused on the design/operations of the plant itself, but took great effort to reach out to the supervisory board, the shareholder, local businesses and residents, and looked for potential project partners. We provided a clear storyline, with no (future) surprises for the stakeholders. At Twynstra, we deliver right first time and believe in long-term relationships in which we strive for the mutual benefit of the parties involved.

Our approach

During the development phase, we set up a dedicated project management office with clear governance controls. The main design parameters were determined carefully, weighing up the projects internal rate of return (IRR) and risks. From there, all of the requirements were chosen and incorporated into an engineering, procurement and construction contract. IRR remained the main driver throughout the development phase. The AEB Amsterdam project board, board of directors and supervisory board were kept fully informed about (intermediate) project and business case results and risks.

The result

A viable business case, irrevocable permits, technical design and contractor contracts were delivered within 12 months. The final investment decision was approved by the supervisory board and shareholders in July 2016 and construction started in autumn 2016, on time and on budget.

Added value Twynstra

Our consultants are able to connect people. We deliver project management services down to finest details, but also understand the importance of connecting people (from the operators to the board of directors, from civil servants to aldermen). We manage their interests to deliver a viable and supported business case. Moreover, we not only report to, but also challenge our clients in to serve their long-term interests.