Eurosport Active World Corp, also known as EAWC Technologies (OTC: EAWD) has signed a revised Agreement with Mexican Company, Tecnologias Verdes SA de CV, to build waste to energy plants in Mexico.
The company said that the revised Agreement, originally signed back in March 2015, extends and expands its plans to construct a waste to energy plant in Chiapas, Mexico – the first of five planned for this area of the country.
Each plant is planned to be 50-125 MW and according to the company all five will be online no later than 2020.
EAWC explained that Mexico's energy sector had been under strict governmental management since 1938. However, this changed in 2013 and 2014 when Mexico amended its constitution and passed enabling legislation overhauling its energy sector to allow private and foreign investment.
The Flordia based firm said that it plans to finance construction of its WtE projects through the placement of bonds secured by energy contracts.
Orders for the five WtE plants are expected to provide over $300 million in equipment sales alone, and related royalties for use of EAWC licensed technology would provide about $90 million in fees annually beginning in 2019 for the next 15 years.
EAWC added that it also expects to generate revenue from the supply of gas to the power plans.
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