RE: EQT1 Mar 2018 11:14
Expected revenue
Existing projects
A series of projects have been secured by way of an EPC contract and/or a MOU including:
● Reliable Energy Melton Hull and Reliable Energy Seal Sands projects in which Eqtec Iberia will supply EGT, as well as supervise the assembly and commissioning of the plant. EPC Contracts were recently signed by Energy China on both of these plants which will generate an anticipated c. 32 MWe and are expected to have a total capital cost of c. �210 million;
● The Catfoss Newcastle and Renewables (Catfoss) Hull projects in the UK with anticipated total installed capacity of c. 28 MWe and the 6.4 MWe Zebec Energy project located in the municipality of Usk, Wales in which Eqtec Iberia will provide a turnkey solution including, design, supplying gasification technology, and commissioning the plant.
● Sense Esco projects located in Croatia in which Eqtec Iberia will provide a turnkey solution including, plant design, gasification technology supply, and plant commissioning for three gasification plants to be used for the conversion of waste and two treatment plants. These power plants will generate an anticipated c. 4.5 MWe and are expected to have a total capital cost of c. �36 million. It is important to note that the Sense Esco projects in Croatia will only commence when funding is secured for either vendor bonds or equity.
This funding will more than likely be secured through third parties. The company
is confident in its ability to source this funding in the near-term.
In every project, Energy China will be the primary EPC contractor to the project SPV, with Eqtec Iberia designated as an engineering and design subcontractor and gasification equipment supplier. Once the project is commissioned Eqtec Iberia will then be appointed as the O&M provider for 8-10 years.
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.
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