01 Oct 2013
Everbright International Secures Zhenjiang Waste-to-energy Project Phase II
Sufficiently Achieves Economies of Scale
Strengthens Presence in Its core strategic sector
Zhenjiang Waste-to-energy Project Phase I (the "Zhenjiang Project Phase I") commenced commercial operation in August 2011, with a daily waste processing capacity of 1,050 tonnes and an annual on-grid electricity generation of 100 million KWh. The total investment in this project was approximately RMB413 million. As Zhenjiang's economy developed rapidly and the population continued to increase, there was a notable increase in waste. In addition, Zhenjiang Project Phase I is operating very well and running almost at full capacity. As such, the Group will start to develop Zhenjiang Project Phase II as soon as possible. Together with Zhenjiang Project Phase II, Zhenjiang city will have a daily waste processing capacity of 1,450 tonnes, generating 145 million KWh of green electricity annually.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Zhenjiang Project Phase II is the Group's fourth waste-to-energy project secured following the Rizhao Project, the Heze Project in Shandong and the Ninghai Project in Zhejiang this year. The Group leverages on the experience gained from the Jiangsu Waste-to-energy Project Phase II and III and the extension of the Jiangyin Waste-to-energy Project Phase II to optimize and enhance the construction and operating standards of Zhenjiang Project Phase II, in order to meet the ever-increasing requirements for environmental protection and contribute to the construction of Sunan Modernization Demonstration Zone. Meanwhile, the construction of the Zhenjiang Project Phase II shares some of the facilities and operating management team of Zhenjiang Project Phase I in order to fully capitalize on the project scale and generate economic and social benefits. The Group believes that the completion of Zhenjiang Project Phase II will further enhance and solidify the Group's leading status in the country's household waste-to-energy sector and contribute further in energy conservation and emission reduction in China.