RE: EQT18 Mar 2018 22:47
The balance of the project ownership will typically be split between Energy China (20 per cent.), Energy China-sourced parties (31 per cent.) and other third parties (29 per cent.). In some of the early projects, EBIOSS may provide some or all of this 29 per cent., with Eqtec Iberia potentially taking equity in future projects, as cash resources dictate. Funds will only be released into the joint venture when legal, financial and technical due diligence is complete, O&M and EPC contracts are in place and power purchase agreement counterparty and feedstock supply agreements have been signed. Zebec - Zebec Energy owns a waste-to-energy project in Usk, south-east Wales with the capacity to process 42,000 tonnes of wood waste per year. Zebec has a portfolio and pipeline of anaerobic digestion technology projects with the Usk plant being its only foray into the gasification sector. The original direct syngas combustion gasification technology, designed by others, has not delivered its originally quoted power output. Eqtec Iberia will be responsible for the design, supply, assembly and repowering of a new biomass gasification plant. Since 2016, Eqtec Iberia has been working with Zebec to obtain the necessary permits and licences for this 6.4 MWe project. The project has been awarded ROCs and with negotiations to sign the EPC agreement ongoing. Project Capex is expected to be in the region of �20 million and under the MOU will Eqtec Iberia will receive �11.1 million of this as revenue, from Q2 2018. Eqtec Iberia, one its associated companies or an EPC contractor designated by Eqtec Iberia will provide the necessary guarantees, performance bonds and insurance package to conclude the financing of this project. All five UK projects have planning consent, which permits the processing of a pelletised RDF fuel into syngas using Eqtec Iberia�s gasification process to directly combust in gas engines to produce electricity and heat at each site. None of the plants in the pipeline have the required environmental permits yet. However, this is not anticipated to be a problem given that planning is already in place and all plants will be constructed to Environmental Protection Agency requirements.
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