21 Jun 2017
Everbright International Secures Two Waste-to-energy Projects21 June 2017, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has recently signed investment agreements for Huidong Waste-to-energy Project ("Huidong Project") Phase II in Guangdong Province and Baoying Waste-to-energy Project ("Baoying Project") in Jiangsu Province, commanding a total investment of approximately RMB644 million.
The Group signed a supplemental agreement to the concession agreement of Huidong Project with the People's Government of Huidong County, Guangdong Province. Accordingly, Huidong Project Phase II will be constructed on a BOT (Build-Operate-Transfer) model, commanding a total investment of approximately RMB219 million. With a designed daily household waste processing capacity of 600 tonnes, its gas emissions will fully comply with the Euro 2010 Standard.
Huidong Project Phase I has a designed daily household waste processing capacity of 600 tonnes. Its construction work commenced in September 2016 and has been progressing smoothly. With the increase of waste, Huidong Project will boost its total designed daily household waste processing capacity to 1,200 tonnes, and is expected to generate more than 141,597,800 kWh of green electricity annually.
At the same time, the Group has signed a Public-Private-Partnership ("PPP") project agreement with the Urban Management Bureau of Baoying County, Jiangsu Province. Pursuant to the agreement, the Group will form a joint venture company with Baoying Urban Construction Investment and Development Company Limited to invest in and construct Baoying Project on a BOT model. The project, which has a concession period of 30 years, is estimated to command a total investment of approximately RMB425 million and the Group will hold a 87.2% stake in the joint venture company. Baoying Project is designed with a daily household waste processing capacity of 500 tonnes and is expected to generate approximately 70,000,000 kWh of green electricity annually. Its gas emissions will fully comply with the Euro 2010 Standard.
Baoying Project is a pilot PPP project in Jiangsu Province. The county is the origin of China's South-to-North Water Diversion Project (Eastern Route) and is among the first batch of China's ecological demonstration zones. The introduction of an up-to-date model for the harmless treatment and reuse of waste will help further improve public hygiene and ecological environment in the local area.