MetalNRG PLG said it is pleased by the progress being made by partner EQTEC on the recommissioning of the Italia MDC plant in Tuscany.
The site is now fully cleaned and relevant components disassembled and cleared, said MetalNRG, whose directors visited operations last month it said.
The 1MWe plant will convert multiple types of biomass feedstock into heat, power and/or fuel for local businesses and residents.
Once operational, Italia MDC is expected to generate annual plant revenues of €2mln, with plant EBITDA (underlying profits) of €750,000.
Rolf Gerritsen, MetalNRG’s chief executive, added: "Good progress is being made toward recommissioning the Italia MDC plant in 2022 and we look forward to our ongoing working relationship with EQTEC.
“The partnership is a solid development opportunity and investment, allowing us to support the social, environmental and economic improvements that a sustainable approach to waste-to-energy can have."
MetalNRG currently owns 26.6% of Italia MDC.