Island Power Solutions Ltd (IPS) has today signed a cooperation agreement with a local partner, for the development of two Waste to Energy Projects (municipality waste) of approximately 18 MW in two Asian regions. And with a possible extension for two more projects between 18 MW and 20MW, totalling four different cities in an asian country. The parties shall jointly develop projects and IPS shall construct and operate these projects.
The partnership is a strategic fit with allocation of responsibilities as follows;
- The local developer are developing the Projects, including the contacts with the local authorities, under supervision from IPS.
- IPS will the responsible for the technical parts, the choice of technology, construction, operation and the financing of the Projects.
IPS or the SPV created by IPS will have ownership of the projects. The estimated CAPEX of the first two projects is approximately 200 million euros (98-100 million euros each). The projects are estimated for construction start 2020.
ABOUT Island power ltd
Island Power Solutions Ltd It is a solution company with a board competence in the energy and waste field, as well as experience both form the consumer and production side. Together with its partner-companies Island Power can offer islands a complete solution for their energy production and storage, along with waste and water treatment as well as other sustainable solutions. Island Power is developing solutions with a social focus and the betterment of society and the environment, but to the largest possible extent on commercial terms. For more information, see www.islandpower.energy