17 Jun 2015
Everbright International Secures Jiangsu Guanyun MSW-Fired Cogeneration Project and Biomass Cogeneration Project17 June 2015, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce it has signed a concession agreement for a municipal solid waste ("MSW")-fired cogeneration project ("Guanyun MSW-fired Cogeneration Project") and a supplementary agreement for investment in a biomass cogeneration project ("Guanyun Biomass Cogeneration Project") with the People's Government of Guanyun County in Jiangsu Province.
Guanyun MSW-fired Cogeneration Project has a daily household waste processing capacity of 500 tonnes and a total investment of approximately RMB270 million. The project will be constructed on a BOO (Build-Operate-Own) basis. It will fully comply with the Euro 2000 Standard in gas emissions and is expected to generate approximately 6,400,000 kWh of green electricity and 240,000 tonnes of steam annually.
In June 2014, the Group secured Guanyun Biomass Integrated Utilisation Project, which originally planned a biomass pellet fuel manufacturing plant to convert agricultural waste and straw collected from Guanyun County and its surrounding areas into pellet fuel, to produce central heating and steam for the Guanyun Economic Development Zone. This project has changed to a heat and electricity cogeneration project, i.e. Guanyun Biomass Cogeneration Project, with the total investment increasing from RMB175 million to RMB320 million. Guanyun Biomass Cogeneration Project will be invested in and constructed on a BOO basis, and the designed annual agricultural waste and straw processing capacity has also been raised from 150,000 tonnes to 290,000 tonnes. It will be equipped with two units of 75 t/h furnaces and two sets of 18MW power generators. The project is expected to generate approximately 191,000,000 kWh of green electricity and 70,000 tonnes of steam annually.
The two projects are located within close proximity to each other in the Guanyun Economic Development Zone of Jiangsu Province, and they mainly process household waste and agricultural waste and straw collected in Guanyun County. Using the concept of integrating urban and rural areas, waste and biomass, and power generation and heat supply, the two projects will follow a joint construction model to build a waste-to-energy plant, a biomass power generation plant, and a central heating plant to improve technology, generate synergy of management and cost saving, which resulting in highly efficient aggregate development.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The integration of Guanyun MSW-Fired Cogeneration Project and Biomass Cogeneration Project is a new business model which will probably bring huge market opportunities for the Group. As a major agricultural area in Jiangsu Province, Guanyun County is currently experiencing rapid economic development and has abundant resources. The projects will convert household waste and agricultural straw collected in Guanyun County to electricity and heat through coordinated processing, generating mutual benefits for local farmers and corporates in the zone, boosting economic development, as well as curbing environmental pollution."