The Waste Energy Plant produces energy by burning your empire's waste. Producing energy this way is far less efficient than other types of energy production, but the benefit is that waste is reduced. The higher the building level the more energy is produced and waste consumed.
In order to build and maintain the blast furnace in the waste energy plant you need a good supply of insulating ores such as zircon, beryl, and gypsum.
Note: if you build enough waste energy plants such that you have negative waste production, and you reach 0 waste, your populace will become unhappy because they have been put out of a job. Waste management buildings will be damaged, so try to ensure that you have a steady balance of waste and waste disposal.
Playing Tip: This building while it consumes large volumes it does not generate a similarly large amount of resources as buildings like the Waste Treatment Plant, or Water Reclmation Facility. You may find using an alternative building will give you a much better value for your plot.
Plans for this building tend to be relatively rare to it's rare use by higher level empires. The plan for this building though is one of 4 that is required to complete one of the Tyleon missions.