Why structured this way?18 Dec 2020 07:24
Ok so this is the key for me... Is this Wood group?
‘The Project at Billingham, UK, is part of a portfolio of projects currently under review by a European owner-operator of waste to energy infrastructure, which is expecting, assuming, inter alia, completion of final credit review and requisite documentation, to provide the financing required for the construction phases and commercially operate the plants and this Project. Assuming the requisite financing is provided, EQTEC expects to act as the co-developer on the Project, providing the design and core advance gasification technology and retain a portion of the O&M contract.’
I assume Wood (or whomever it is) need to know the land is NOT in control of Scott Bros (ie they cannot be held to Ransom), before they can financially close. Once closed the finance Money will become available for the majority of the land purchase price... Would be interesting to know if EQT will be stumping up from their £10mil.
Either way will have to all okay out before 28th Feb
Happy to hear any other opinions if I may have grasped this incorrectly?