EQTEC PLC (AIM:EQT) has set up a joint venture in Greece where it is partnering with German EPC company ewerGy GmbH on a waste-to-energy project.
The partners have signed a deal to acquire a 1MWe waste-to-energy gasification project in Livadia, mainland Greece, and to secure exclusivity for a second 1MWe project nearby.
"We have long identified Greece and the Aegean region as one with a strong pipeline potential for EQTEC to bring advanced gasification capabilities to more local farming communities,” said EQTEC chief executive David Palumbo.
“With one project currently being constructed and a second in development in Greece already, today we are further delivering on that promise. Both plants are further examples of how we can source and sustainably transform local agriculture waste into a decentralised source of energy supply to local communities."
EQTEC is the majority shareholder in the JV which will be capitalised by both partners.
The company noted that the Greece JV follows a similar structure to a vehicle it set up in July for a venture with Croatian project development partner Sense ESCO.