25 Feb 2014
Three of Everbright International's Waste-to-energy Projects Increase Waste Processing Fee25 February 2014, Hong Kong – China Everbright International Limited ("Everbright International" or "the Group") (SEHK: 00257) announced that its subsidiaries Everbright Environmental Energy (Changzhou) Limited, Everbright Environmental Energy (Jiangyin) Limited, and Everbright Environmental Energy (Yixing) Limited have been approved by Changzhou Municipal People's Government, Jiangyin Municipal People's Government, and Yixing Municipal People's Government, respectively, to increase the waste processing fees of the respective waste-to-energy projects.
Changzhou Waste-to-energy Project ("Changzhou Project") has been approved to increase its waste processing fee by 5.3%. The new charge has been effective since 1 January, 2014. This is the second fee adjustment to come into effect since the commencement of operation of the Changzhou Project in 2008. The waste processing fee increased by 13% after the two adjustments. The Changzhou Project is the country's only waste-to-energy plant located in the urban area and has become an icon of the city. The project's daily household waste processing capacity is over 1,000 tonnes which generate on-grid electricity over 108,600,000 kWh per annum. All gas emissions comply with the Euro 2000 Standard.
Following the approval of the municipal government on 24 January 2014, Jiangyin Waste-to-energy Project Phase I & II ("Jiangyin Project") increased its waste processing fee by 6.4%, and the new charge was made applicable from 1 September, 2013. The project's daily household waste processing capacity is over 1,400 tonnes which generate on-grid electricity over 157,695,000 kWh per annum. All gas emissions comply with the Euro 2000 Standard.
Yixing Waste-to-energy Project Phase I ("Yixing Project") was approved to increase its waste processing fee by 17.7% on 20 November 2013 and the new charge was made applicable from 1 July, 2013. This is the second fee adjustment to come into effect since Yixing Project commenced operation in 2007. The waste processing fee increased by 24.7% after the two adjustments. Yixing Project uses self-developed grate furnace developed by the Group. Its daily household waste processing capacity is 600 tonnes which generate on-grid electricity over 64,404,000 kWh per annum. All gas emissions comply with the Euro 2000 Standard.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Changzhou Project, Jiangyin Project and Yixing Project are all important waste-to-energy projects for the Group; they have adopted high operation standards and strictly adhered to emission requirements, which has been recognized by local governments. The three projects were once again approved to increase their waste processing fees last year end and early this year, following coordination with relevant local government departments. This laid a solid foundation for the long-term steady development of the Group's projects. The adjustment of waste processing fees not only shows that local governments pay great attention to environmental protection and the sustainable development of society, but it also demonstrates their support and recognition of Everbright International's waste-to-energy business. We shall continue to adhere to our principle of high quality and high standards regarding our project operation, and enhance the management level, so as to achieve an overall growth of the Group's waste-to-energy business."