Irish gasification technology and engineering company EQTEC said that it has secured financing for its two waste-to-energy projects in Croatia.
Both projects are developed by Synergy Projects, EQTEC’s joint venture with local partner Sense ESCO. The funding required for the re- commissioning of Belisce facility is around 4.2 million euros, of which Sense ESCO will be providing 1.7 million euros, while EQTEC will provide the rest. The funding also include the increase of the facility’s capacity from 1.2 to 1.5 MW.
The facility in Karlovac will be developed in two phases of 1.5 MW each, with total funding requirement around 10 million euros. Partial funding for the first phase at Karlovac has been secured in order to accelerate completion of the detailed engineering design and order main equipment EQTEC and Sense ESCO are continuing discussions with investors and banks to secure additional debt and equity to fund Karlovac’s current and future phases.
Sense ESCO also increased its share in the joint venture to 51 %, with EQTEC holding the remaining 49 %.
In August and September, ECTEQ announced that it has acquired decommissioned 1.2 MW waste-to- energy gasification plants in Belisce and Karlovac.
