01 Aug 2017
Everbright International Secures Shandong Qihe Waste-to-energy Project1 August 2017, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has recently secured Qihe Waste-to-energy Project ("Qihe Project" or the "Project") in Shandong Province.
Qihe Project will be invested in and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 30 years. The Project, which will be constructed in two phases, is designed to have a total daily waste processing capacity of 800 tonnes. Its gas emissions will fully comply with the Euro 2010 Standard. The Project Phase I has a designed daily household waste processing capacity of 500 tonnes, commands a total investment of approximately RMB345 million, and is expected to generate approximately 70,000,000 kWh of green electricity annually.
As an important traffic hub of Shandong Province, Qihe County has seen its local economy grow rapidly in recent years, which has increased the amount of household waste produced as residents' lives have improved. The introduction of waste-to-energy treatment, which provides harmless treatment, reuse and reduction of household waste, will assist the urbanisation process within the county and enhance the county's ability to develop sustainably.
Mr. Hu Yanguo, CEO of Environmental Energy Sector at Everbright International, said, "Qihe Project is the 18th waste-to-energy project which Everbright International has invested in Shandong Province, and it is Qihe County's very first project of this kind. In line with its commitment to social responsibility, Everbright International will establish the Project as a demonstration waste-to-energy project that meets the highest standards. In addition, the Group will proactively utilise resources from the surrounding area including Ji'nan City to make the best of the synergy within the area and achieve optimal economic, environmental and social benefits."