Ireland-headed EQTEC plc (formerly REACT Energy plc), a technology solution company for waste gasification to energy projects, has announced that it has signed a Memorandum of Understanding (MoU) with PT. Citra Metro Jaya Energi (CITRA), part of the Energy division of Indonesia-headed Citra Metro Group, to supply its EQTEC Gasifier Technology (EGT) for a 12 MWe power plant project in Hanoi, Vietnam.
According to a statement, the MoU signed with CITRA for a contract is worth up to EUR 22 million. Key terms of the MoU are:
- CITRA considers EQTEC as the exclusive technology supplier of the 12MWe gasification plant for the 12 months from the date of the MoU
- CITRA will be responsible for obtaining the permits, licences, and authorisations (PLA), Power Purchase Agreements (PPA), and Feedstock Agreements for the 12 MWe Project expected to be obtained during Q3 2018.
- CITRA intends to contract EQTEC to execute the works in accordance with a quotation which EQTEC has supplied to CITRA which is to be finalised immediately after the PPA has been obtained by CITRA. The scope of supply of EQTEC will include two complete gasification lines with 4,5 tonnes per hour feeding rate each, four GE Jenbacher syngas engines, ancillary equipment as well as commissioning and start-up services.
- CITRA or any third party associated with CITRA to provide the necessary equity and debt financing for the Project and CITRA to provide the Engineering Procurement Contractor (EPC).
According to EQTEC, CITRA is working towards obtaining the licences, permits, and concessions for a 12 MWe Integrated Gasification to IC Engines Power Plant (IWGPP), which will use biochar briquettes as feedstock. Biochar is a solid material which will be produced by CITRA from municipal solid waste (MSW).
In addition, feedstock agreements will incorporate EQTEC’s specification for refuse-derived fuel (RDF), a fuel produced from various types of wastes such as MSW, industrial wastes or commercial wastes and is the primary feedstock for EQTEC’s UK project pipeline.
We are delighted that our technology has been selected, on an exclusive basis, by CITRA for its 12 MWe power plant. The MoU formalizes the first step towards what can become a fruitful relationship with CITRA and ties in with our strategy of looking for opportunities to utilise EQTEC Gasifier Technology, directly or through EPC contractors, in the UK and across the globe. We look forward to working together on this exciting project which has the potential to deliver significant benefits to both CITRA and EQTEC, commented Luis Sanchez, CEO of EQTEC plc.
