EQTEC has announced the acquisition and planned recommissioning of a 1 MWe waste-to-energy plant in Italy.
Originally commissioned in 2015, the plant will be built around EQTEC’s proprietary, patented advanced gasification technology.
The company has acquired, and will lead a consortium to repower, own, and operate the biomass plant in Castiglione d’Orcia in Tuscany. The consortium will include three other parties: an Irish Family Office, an Italian Family Office, and MetalRNG, which will participate in a special purpose vehicle, EQTEC Italia MDC, investing an aggregate €2.1 million for an initial 80% equity interest.
Once operational, the plant will utilise straw and forestry wood waste from local farms and forests into green electricity and heat for use in the local community. The facility, representing a contract value of around €1.75 million for EQTEC, will be upgraded to process a broader range of biomass feedstocks over time.
The plant is due to be fully recommissioned and operational by the second quarter of next year. Connection to Italy’s national grid is already in place and the project will benefit from the country’s favourable tariffs for electricity produced from waste biomass until the end of 2027.
David Palumbo, CEO of EQTEC, said: “I am very pleased that EQTEC will lead the effort with our partners to re-commission and revive this biomass-to-energy plant in Italy, providing power and heat to the area and demonstrating sustainable, commercial success with EQTEC advanced gasification.
“Additionally, I am delighted to see us secure this with a well-balanced consortium of experienced partners and this is an approach we hope can be achieved for other projects in our pipeline.
“Finally, I am pleased about the local nature of this plant and our future role there as co-owner/operators. We are committed to ensuring our projects have a positive local impact, from sourcing, treating, and converting local waste through to the generation of clean energy in the local area, all powered by EQTEC technology.
“We will continue to support local businesses, employing local people and sustainably delivering value for local communities in all the market we operate.”
The plant in Castiglione d’Orcia is the first of two such facilities with EQTEC’s technology that have been decommissioned by previous owner-operators in recent years, and that the firm has targeted for re-powering to full operation.