01 Jun 2015
Everbright International Secures Xiao County Waste-to-energy Project and Biomass Power Generation Project in Anhui Province
Establishing Regional Coordination and Urban-Rural Integration1 June 2015, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group 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 Xiao County in Anhui Province. The Group will invest in the construction of the Xiao County Waste-to-energy Project and Biomass Power Generation Project simultaneously.
Xiao County Waste-to-energy Project has a total investment of approximately RMB420 million and will be invested and constructed on a BOO (Build-Operate-Own) basis, with a concession period of 30 years. The project has a designed daily household waste processing capacity of 800 tonnes and will be constructed in two phases. Phase I commands a total investment of approximately RMB250 million with a designed daily household waste processing capacity of 400 tonnes. It is expected to generate approximately 48,000,000 kWh of green electricity annually and the gas emission will fully comply with the Euro 2000 Standard.
Xiao County Biomass Power Generation Project has a total investment of RMB320 million and will be invested and constructed on a BOO basis. It has an annual agricultural waste and straw processing capacity of 300,000 tonnes. The project will be equipped with one unit of 130 t/h furnace and a set of 30MW power generator. It is expected to generate approximately 200,000,000 kWh of green electricity annually.
Mr. Chen Xiaoping, CEO of Everbright International, said, "Xiao County Waste-to-energy Project and Biomass Power Generation Project represent a step forward by Everbright International in exploring and implementing a urban-rural integration model. These two projects will improve the efficiency of coordinated processing of household waste, agricultural waste and straw in Xiao County, effectively converting waste into usable energy. Xiao County is a major grain and fruits producing county in Anhui Province and enjoys a prosperous economy, boasting an abundance of agricultural resources. These two projects are in close proximity to the Group's urban-rural integration projects in Lingbi and Dangshan, giving them significant geographic and management advantages. The two projects will also share some facilities such as grid circuit and office space, as well as a management team. This allows reduction in operating and management costs and helps to improve economic and social benefits."