EQTEC PLC (AIM:EQT) (AIM:EQT) said it has completed the acquisition of a 1.2 MWe waste-to-energy gasification plant in Beliše, Croatia.
The deal was carried out through Synergy Projects, a joint venture between the gasification solutions company and its Croatian project development partner Sense ESCO.Originally commissioned in 2016, the plant was built around EQTEC's proprietary and patented Advanced Gasification Technology.
It will be recommissioned and repowered to convert forestry wood waste from local farms and forests into green electricity and heat for use in the local community, with operations starting towards the end of 2022.
EQTEC said the project will generate annual underlying earnings (EBITDA) of over €850,000.
Once operational, it is expected that EQTEC will become the plant's O&M contractor and that it will make it the second of its Market Development Centres (MDCs) and a showcase for EQTEC's technology in a fully operational, commercial setting - link - more like this - link
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