Press Release

20 Dec 2017

Everbright International Secures Three Waste-to-energy Projects



20 December 2017, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently secured three Waste-to-energy Projects, namely Tunchang Waste-to-energy Project in Hainan Province ("Tunchang Project"), Miluo Waste-to-energy Project in Hunan Province ("Miluo Project") and Fuping Waste-to-energy Project in Shaanxi Province ("Fuping Project"), with a total investment of RMB977 million.

Tunchang Project will be invested in and constructed on a BOT (Build-Operate-Transfer) basis with a concession period of 30 years and a designed daily household waste processing capacity of 600 tonnes. Phase I of the project is designed to have a daily household waste processing capacity of 300 tonnes, with an investment of RMB247 million. It is expected to generate green electricity of approximately 30,620,000 kWh annually with its gas emissions in full compliance with the Euro 2010 Standard.

Miluo Project will also be invested in and constructed on a BOT basis. With a concession period of 27 years, it will be invested, constructed, operated and managed by a project company, jointly formed by Everbright International and Hunan Modern Environment Technology Co., Ltd., which is a state-owned enterprise in Hunan Province. Everbright International will hold an equity stake of 70% in the project company. Miluo Project is designed to have daily household waste processing capacity of 750 tonnes and scheduled to be constructed in two phases. Phase I will have a designed daily household waste processing capacity of 500 tonnes and will command an investment of approximately RMB370 million. It is expected to generate approximately 54,750,000 kWh of green electricity annually, with its gas emissions in full compliance with the Euro 2010 Standard.

Meanwhile, Fuping Project will be invested in and constructed on a BOT basis, with a concession period of 30 years and a designed daily household waste processing capacity of 1,000 tonnes. To be constructed in two phases, Phase I is designed to have a daily household waste processing capacity of 600 tonnes, with an investment of approximately RMB360 million. It is expected to generate approximately 60,000,000 kWh of green electricity annually, with gas emissions in full compliance with the Euro 2010 Standard.

Mr. Hu Yanguo, CEO of Environmental Energy Sector at Everbright International, said, "Securing Fuping Project marks Everbright International's foray into the solid waste treatment industry in Shaanxi Province. The Group has also entered into a framework agreement for a Veinous Industrial Park Project, with the People's Government of Fuping County to play an active role in its construction, an example of the notable progress made in implementing the Group's 'From Coastal Areas to Inland Cities' development strategy. At the same time, Tunchang Project and Miluo Project will be the Group's fourth waste-to-energy projects to be constructed in Hainan Province and Hunan Province respectively. The Group is poised to establish these projects as best-in-class waste-to-energy projects and promote sustainable development by leveraging its own strengths and experience, implementing state-of-art waste-to-energy technology and applying the advanced technology and equipment."

In addition, Baoying Waste-to-energy Project in Jiangsu Province has recently commenced construction and is expected to complete construction and commence operation in 2019. The project is designed to have a daily household waste processing capacity of 500 tonnes and is expected to generate approximately 70,000,000 kWh of green electricity annually. Sanya Sludge Treatment and Disposal Project Phase II has also commenced construction and will commence operation in 2018. Yongzhou Waste-to-energy Project Phase I in Hunan Province, which completed construction earlier this month, has a designed daily household waste processing capacity of 800 tonnes and is expected to generate approximately 80,000,000 kWh of green electricity annually.



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