02 Jan 2013
Hanshan Project Receives Approval
Biomass Power Generation Project Will Commence Construction Within YearChina Everbright International Limited ("Everbright International" or the "Group") is pleased to announce that the Anhui Hanshan biomass power generation project ("Hanshan Project" or the "Project") has been officially started after receiving the approval from the National Energy Administration recently. In accordance with the relevant procedures, the approved projects will be classified as a part of the national plan and is able to enjoy the unified national biomass feed-in tariff at RMB0.75/kWh. This is the first green light that the biomass industry has received after the government tightened the biomass power project construction management in 2010.
The Hanshan Project of Everbright International will adopt the advanced biomass power generation technology and will be equipped with 130t/h furnace and one 30MW electricity generator, commanding a total investment of RMB 320million. After its completion, the designed annual processing capacity is approximately 300,000 tonnes of various types of agricultural waste. Anhui Province, where the Hanshan Project is located in, is rich in biomass materials and the Project takes cotton and stalks, with high heating value, as its main fuel. The Project currently has completed the preliminary procedures and will commence construction in the first half of this year. On the other hand, the Project has received credit facilities from Asian Development Bank, which means the capital source has been identified.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The approval of Hanshan project is meaningful to the Company. This is the second project of a kind following Dangshan Biomass Power Generation demonstration project, which was successfully constructed and has commenced operation. The Dangshan Project has established an effective system of collection and transportation. It started to make revenue contribution to the Company after a year operation and thus became another profit growth driver of the Company. Hanshan Project and Dangshan Project are both in Anhui Province, which brings synergies to our management. Experienced in Dangshan Project, Everbright International will further broaden its environmental services and develop Hanshan Project into another biomass demonstration project in the industry. Meanwhile, the Company will proactively take up social responsibility with an aim to "converting waste to resources" for solving pollution problems from agricultural and forestry as well as creating values to shareholders."