29 Dec 2015
Everbright International's Jiangsu Changzhou Xinbei Waste-to-energy Project Completes Construction and Commences Operation29 December 2015, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that its Changzhou Xinbei Waste-to-energy Project ("Xinbei Project" or the "Project") Phase I in Jiangsu Province has completed construction and commenced operation.
Xinbei Project was constructed through a joint venture between Everbright International and Changzhou Hi-tech Group Co., Ltd ("Changzhou Hi-tech Group"), a state-owned enterprise. Everbright International and Changzhou Hi-tech Group hold equity interests of 60% and 40% in the joint-venture company, respectively. Project Phase I commands a total investment of approximately RMB420 million, with a daily household waste processing capacity of 800 tonnes. All gas emissions have complied with the Euro 2000 Standard and it is expected that Project Phase I will generate over 90,000,000 kWh of green electricity annually.
The construction of the Project has moved forward efficiently, based on the philosophy of "state-of-the-art technology and high quality construction". By introducing the technology of German-based MARTIN GmbH, the construction and installation of the furnace system were done simultaneously for the very first time. It took only 13 months from the commencement of construction to the completion of construction and commencement of operation, setting a new record of construction time for Everbright International's waste-to-energy projects.
Mr. Chen Xiaoping, CEO of Everbright International, said, "In June this year, Xinbei Project Phase I obtained a subsidy of RMB108 million under the '2015 Central Budgetary Investment Plan' scheme, reflecting strong support from the central government. The Group moved forward with the project construction efficiently in order to actively explore the way to reduce the construction time of the Group's waste-to-energy projects in the future, and had successful experience. Since the beginning of this year, there have been 6 waste-to-energy projects by Everbright International that have completed construction and commenced operation, reaching a new height in the number of completed construction projects compared with previous years."
In addition, in terms of the new commencement of construction of waste-to-energy projects, Jiangsu Nanjing Waste-to-energy Project Phase II and Shandong Pingdu Waste-to-energy Project have started construction at the end of this year.