SINGAPORE-BASED renewable energy and waste infrastructure developer Equis Development has completed a 100 billion South Korean won equity capital raise with Hana Financial Investment, to construct a portfolio of four waste-to-energy facilities in South Korea.
The facilities will repurpose and process over 470,000 tonnes of waste per annum, making them one of the largest waste-to-energy platforms in South Korea, Equis Development said in a press statement on Monday. Construction starts in the fourth quarter of this year, and operations are forecast to commence in 2022.
Vine Enviro will own and operate the facilities, as well as invest about 300 billion won across the four of them. Meanwhile, Equis Development will retain a 10 per cent stake in Vine Enviro, with a right to reinvest up to a 55 per cent ownership interest in the future.
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