The million pound deal to buy the Old Herdmans Mill site in Strabane is expected to put an end to plans to bring an anaerobic digester to the site.
The historic mill, which dates back to 1835, has been bought by Strabane Euromillions winner, Margaret Loughery.
Donegal-based firm Connective Energy Holdings had submitted an application for the waste management plant on the grounds of the former mill in Sion Mills.
Sion Mills residents have been fighting plans to bring a waste plant to the village.
Head of the Sion Mills Community Group Against Waste Management Plant, Andy Patton, said the development is a massive boost for the village: