16 Oct 2014
Everbright International Secures Anhui Lingbi Waste-to-energy and Biomass Power Generation Projects
Implement Energy Conservation and Low-carbon Construction and Build Pilot Projects for Urban and Rural Development16 October 2014, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed a concession agreement for a waste-to-energy project and an investment agreement for a biomass power generation project with the People's Government of Lingbi County in Anhui Province. The Group will invest and construct Lingbi Waste-to-energy Project and Lingbi Biomass Power Generation Project at the same time.
The total investment of Lingbi Waste-to-energy Project is approximately RMB420 million, it will be constructed on a BOO (Build-Operate-Own) basis for 30 years. The project will be constructed in two phases with a total designed daily household waste processing capacity of 800 tonnes. The investment of project Phase I is approximately RMB250 million, with a daily household waste processing capacity of 500 tonnes. All gas emissions will comply with the Euro 2000 Standard.
The total investment of Lingbi Biomass Power Generation Project is approximately RMB320 million and the annual agricultural straw processing capacity is approximately 300,000 tonnes. The project will be equipped with a 130t/h furnace and a 30MW power generator to generate green electricity of approximately 200,000,000 kWh annually.
These two project plants will be built next to each other in Yinji Town of Lingbi County and will be mainly responsible for processing household waste and agricultural straw in Lingbi County of Anhui Province. Lingbi County has rich natural resources and is experiencing rapid economic development. With enriched agricultural products such as wheat, corn, and cotton, Lingbi County is one of the top 100 counties with the largest crop output in China and also one of the country's top 10 tourist counties due to its distinctive culture.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Economic development will further boost the development of the environmental protection industry. The two projects will be able to convert waste into usable energy, recycle resources effectively and curb air pollution caused by agricultural straw burning. In addition, the two projects will share one management team and office as well as other facilities, resulting in energy conservation and carbon-emission reduction, thus creating greater economic and social benefits. Leveraging Everbright International's extensive management experience and advanced technology in the waste-to-energy and biomass power generation fields, the Group will establish a mature collection-storage-transportation system and construct the two plants as pilot projects for urban and rural development so as to make a contribution to local economic growth and environmental protection."