13 Apr 2015
Everbright International Expands into Waste-to-energy Market in Sichuan13 April 2015, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has signed an equity transfer framework agreement for the Sichuan Guang'an Waste-to-energy Project ("Guang'an Project"). According to the framework agreement, the Group will acquire a 52.34% equity interest in Guang'an Project based on the results of an independent evaluation.
Guang'an Project is designed with a daily household waste processing capacity of 900 tonnes. The Project Phase I has a designed daily household waste processing capacity of 600 tonnes and will be constructed on a BOT basis. The concession period is 30 years (excluding construction period) and its gas emission will comply with the Euro 2000 Standard. To date, 90% of the construction work has been completed and the Project is expected to complete construction by the first half of this year.
In addition, Sichuan Everbright Energy Conservation and Environmental Protection Investment Co., Ltd., a joint venture between the Group and Sichuan Energy Industry Investment Group Co., Limited, signed a concession agreement with Housing and Urban-Rural Development Bureau of Suining City, Sichuan Province, to invest in the development of a household waste-to-energy project in Suining City ("Suining Project").
The total investment of Suining Project amounted to RMB450 million. Everbright International holds a 64.3% equity interest in the Project. Suining Project is designed to have a total daily household waste processing capacity of 800 tonnes and the concession period (including the construction period) is 30 years. The Project is expected to generate on-grid electricity of approximately 76.70 million kWh annually and the gas emissions will fully comply with the Euro 2000 standard.