11 Jan 2017
Everbright International Embraces First Achievement of the New Year
Pingdu Waste-to-energy Project Completes Construction and Commences Operation11 January 2017, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group's Pingdu Waste-to-energy Project Phase I ("Pingdu Project Phase I") in Shandong Province has completed construction and commenced operation.
Pingdu Project Phase I commenced construction in December 2015 and passed the "72 +24" hours trial run on 4 January 2017. The project previously obtained a subsidy of RMB32 million under the 2016 Central Budgetary Investment Plan. It was constructed on a BOT (Build-Operate-Transfer) model with a total investment of approximately RMB360 million. The project has a designed daily household waste processing capacity of 600 tonnes and is expected to generate approximately 70,000,000 kWh of green electricity annually. Gas emissions fully complies with the Euro 2010 Standard.
Furthermore, following Suzhou Waste-to-energy Project in Jiangsu Province, Everbright International's Nanjing Waste-to-energy Project in Jiangsu Province and Ningbo Waste-to-energy Project in Zhejiang Province both received the AAA grade of the harmless level of household waste processing facility, which was granted by the provincial departments of housing and urban-rural development in the two provinces, the highest honor within the industry. Everbright International and the projects have received recognition from the provincial departments after the local officials conducted on-site inspections and assessed the construction, operation and management of the projects.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The commencement of the Pingdu Project Phase I's operation marks a good start to 2017 for Everbright International. Adhering to the Group's approach of striving for excellence and being pragmatic, the project team gradually carried forward the construction of the project over the past year to provide an environmental-friendly and highly effective waste processing solution for the local communities. Everbright International follows the principles of pursuing excellence, harmony and win-win outcomes. Besides aiming for high quality, the Group's projects also look to foster harmony within society and create mutual benefits. It is very encouraging to see our projects attaining the industry's highest AAA grade recognition again. With the trust and expectations by the local governments and residents, Everbright International will ensure its projects maintain safe and efficient daily operations in compliance with discharge standards, so as to effectively improve the quality of the local environment."