Wales Usk & Croatian Belice II proj29 Aug 2018 13:54
News Quote
The Usk project is intended to process about 42,000 tonnes per year of biomass and and have a capacity of 6.4MWe. Talks with financial backers are progressing, according to Sanchez.
In a further announcement, issued today, Eqtec revealed it had secured a new loan facility of up to £2.4m (€2.7m) from the Cuart Investments Fund, a consortium led by Origen Capital LLP.
Sanchez also explained the company’s development of two waste processing gasification plants with Energy China, known as Reliable Melton Hull and Reliable Seal Sands in north-east England, had "suffered a delay."
He added: "In the UK, the use of syngas to produce steam instead of syngas to gas engines is more profitable to the customer, due to high prices for gate fees and not so high prices for the electricity. That is why we’ve changed to a steam turbine to get a higher return for the investors. This is taking some time, but we expect to conclude in Q1 2019."
The first of three biomass gasification plants under development in Croatia, which were revealed last year, could be declared operational in September, when it will start commercial operations, according to Sanchez.
Sanchez further said the company expected to generate revenues this year in either Q3 or 4, but added that 2019 was "when the stream of revenues starts properly."