Powerhouse Energy Group PLC (AIM:PHE) (PHE) said it is holding discussions with partner Peel Holdings to acquire the whole of the special purpose vehicle (SPV) that will run the Protos Park project at Ellesmere Port.
Originally, Powerhouse was slated to take a 50% stake in the waste-to-energy development but "the structure that seemed optimal four or five years ago is not necessarily the case today," said Keith Riley, PHE's acting chief executive.
"Consideration is now being given to PHE potentially acquiring the whole of the shareholding of the SPV," he added in a statement.
A deadline for the finalisation of its agreement has been extended until 29 April to allow for the continuation of the discussions.
In addition, a subscription and warrant agreement between Powerhouse and Peel also now has a long stop date of 29 April.
Riley continued: "Formation of the joint venture with Peel has taken longer than anticipated. As the project has developed, both parties have been carefully considering the best outcome for the project. PHE has significantly increased its capacity in engineering, project management and operations. Both parties continue to evaluate the situation and more time is needed to ensure the best conclusion is reached."