Zerwell Energy, Inc. : An Energy Consulting Company
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| Hello Everyone, Again, it’s been awhile since my last update to the Erie Waste to Energy (Ethanol) interest group, but I was asked by the Suncrest Energy people to keep a low profile on the project till they got even more ducks lined up. Before I bring you up to speed, I’d like to re-clarify the scope and purpose of EWE: The main purpose of the EWE project is to offer an alternative to land-filling our waste. Land-fills are bad for the Planet. See the reasons here: NACALF Another purpose is to bring jobs to the community for our citizens. And, to generate income so we can repair our roads; and other expenses. So, here’s where we’re at: Suncrest Energy (SE) has secured a Letter of intent (LOI) from a large power purchaser to negotiate a long term Power Purchase Agreement (PPA) for the plant’s excess electricity production. That LOI cleared the way for a large investment firm to issue a commitment letter to fund the EWE project…expected to cost around $500 million. The Global financial crises has delayed them for over 3 months. The project team is now moving forward with the early project steps necessary to close on the funding. They include project engineering, power purchase agreement negotiation, permits etc. This phase is expected to take about 9 months. They hope to start construction late in 2009. I’ll send out another update as soon as something new happens. Sincerely, Chuck Bagwell Chairman Erie Waste to Energy (Ethanol) project (EWE) |