i asked john benvengo (when the italian deal was revealed) exactly the question you are asking now. i asked how come you couldn't get $25 million dollars to get the indiana project going, and now you can get ifi srl to lend you $375 million (for 3 wte projects - poland & extrapolating again, 2 mexican projects).
and his answer was "OFF TAKE AND FEED STOCK". i didn't have a clue what he was talking about - and asked him to elaborate. i am far from an expert on this, and you would be wiser to call john and ask him to explain, but i'll do my best to summarize what he told me.
the polish deal (AND THIS IS CONTAINED IN THE PR) has guaranteed waste delivery at a guaranteed rate. check the pr - they will be getting a guaranteed amount of waste and medical waste (that's the good stuff) - and getting paid $129,000 per day to take the waste. the local polish govt is guaranteeing this. THAT'S WHY THE ITALIANS ARE GOING TO POLAND NEXT WEEK (according to strong rumors) - to finish the due diligence - AND MAKE SURE THE GUARANTEES ARE THERE. these guarantees are why the italians are willing to lend ipwg the money. it's like having a future guaranteed accounts receivable. and if you know anything about lending, accounts receivables are an excellent form of collateral. so ipwg will bring in (net) $45 million from these guarantees annually --- more than enough to collateralize a $108 million loan. also remember that there will be electricity generated and sold locally, and carbon credits generated. i don't remember exactly the numbers mentioned at the sh meeting (can't find my notes) , but they were an additional $10 million for the electricity and carbon credits (an approxiamation).
i am sure the italians will not release any funding for the mexican wte projects unless similar guarantees are made by local mexican authorities.
when i asked john, why couldn't they get the indiana project funded the same way - believe it or not, local authorities in indiana, would not give these guarantees. i guess indiana doesn't need jobs that badly. btw, the indiana project is NOT dead - but on hold until funding can be established for it. and forever green technology will likely find its way into ipwg wte projects when
