StockMarketWire.com - Gasification solutions company Eqtech it had completed the acquisition of the 1MWe EQTEC Italia MDC plant, and signed the equipment sale and services contract.

Eqtec Italia MDC will transform straw and forestry wood waste sustainably sourced from local farms and forests into green electricity and heat for the local community.

A consortium of co-investors, consisting of the company, an Irish Family Office, an Italian Family Office and MetalNRG, recently formalised the intention to recommission the 1 MWe biomass-to-energy plant in Tuscany, Italy.

'The plant is due to be fully recommissioned and operational by Q2 2022, with connection to Italy's national electric grid already in place, ' the company said.

'The company estimates that the Plant will generate an unlevered IRR of 20% and annual EBITDA in excess of €750,000,' it added.


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