The mod isn't updated for the last patch hence the errorcode. Some people claim that it still works but I see alot of people claiming that it corrupts the game. For now I'd play without this mod till it's updated.
FOUND THE ISSUE! The reason as to why some people say it works when you name the folder ~mods and some people say it crashes their game is because this mod is not compatible with several other mods like "more resources balanced" "increased storage" and "build everything" , those are the ones that didn't allow me to even boot the game because they do not work with a folder named ~mods, or at least that's my hypothesis. A possible solution could be to use a mod manager, I think.
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There should not be any sub-folders inside the "~mods" folder
If you are still struggling with the installation (Steam version only):
version: 0.8.029
I even used it on a previous savegame and it doesn't break anything for me.
For those with issues make sure you name the fold including the horizontal 's'. The folder HAS to be named: ~mods