Subject to the completion of a final review, Idex would provide the financing required for the construction phases and then own and commercially operate the plant, Eqtec says.
Assuming the requisite funding is provided, Eqtec expects to act as the co-developer on the project, providing the design and core advance gasification technology and retaining the maintenance portion of the operation and maintenance (O&M) contract.
The plant would use Eqtec gasification technology to turn refuse derived fuel (RDF) into energy. Eqtec estimates it would process 200,000 metric tonnes of municipal residual waste, converted into RDF, each year. It would produce 25 MWe of electricity.
Eqtec says the land involved has been acquired by its wholly owned subsidiary and planning permission has been approved.
Founded in 1963 and headquartered near Paris, Idex is an operator of energy infrastructure assets, including 41 district heating and cooling networks, 13 energy from waste (EfW) facilities and a ‘large’ portfolio of energy services contracts.
RDF
Eqtec says it is working on two other RDF projects in the UK: one in Deeside, Flintshire, with co-developer Logik Developments Limited and one in Southport, Merseyside, with co-developer Rotunda Group Limited.
The company also said it had agreed to explore an EfW solution for Toyota’s engine manufacturing plant in Deeside. Subject to financial close, construction is expected to commence at Deeside and Southport in 2022.
Trading update
Eqtec announced its possible partnership in a trading update published today (22 March). Covid-19, Brexit and forest fires have all impacted the pace of business, the gasification company says.
“The business platform we now have in place is exactly what we set out to build”
While no deals dropped from the company’s pipeline because of the pandemic, some were delayed. Lockdowns, furloughing, home working and impacts from domestic and international travel restrictions have prevented physical site visits and adversely impacted logistics and progress with documentation, financial approvals, planning or other administration. These in turn added delays to progress of specific projects, Eqtec says.
With operations in Ireland, the UK and Spain, Eqtec says it has been “well-placed” to mitigate the impacts of the Brexit process in relation to political, administration and policy changes. However, some delays were experienced with regard to timely approvals of documentation, funding, planning or other administration.
David Palumbo, CEO of EQTEC, said: “The business platform we now have in place is exactly what we set out to build and has grown our reach and impact toward building more advanced gasification plants in more markets with a greater, cleaner impact on local communities and greater returns for our shareholders.
“Supported by our strategic partners, we are better positioned than ever for growth and profitability in 2021 and beyond.”
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