15 May 2019
Everbright International Secures Hunan Xinhua Waste-to-energy Project and Liaoning Liaoyang Waste-to-energy Project
15 May 2019, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) is pleased to announce that the Group has recently secured Xinhua Waste-to-energy Project ("Xinhua Project") in Hunan Province and Liaoyang Waste-to-energy Project ("Liaoyang Project") in Liaoning Province, with a total investment of approximately RMB1.4 billion.
Xinhua Project will be invested in and constructed based on a PPP (Public-private Partnership) model for a concession period of 30 years (construction period inclusive). With a total designed daily waste processing capacity of 1,050 tonnes, the project will be constructed in two phases. Xinhua Project Phase I has a designed daily household waste processing capacity of 700 tonnes, and commands an investment of approximately RMB588 million. It will be equipped with two 350 tonnes/day mechanical grate furnaces and one 15 MW steam turbine power generator. Xinhua Project Phase I is expected to generate on-grid electricity of approximately 69 million kWh annually. Its gas emissions will fully comply with relevant national standards, with the daily average level of online monitored gas emissions superior to the Euro 2010 standard.
Liaoyang Project will also be invested in and constructed based on a PPP model, with a concession period of 30 years (construction period inclusive). With a designed daily household waste processing capacity of 1,200 tonnes, the project commands an investment of approximately RMB812 million. It will be equipped with two 600 tonnes/day mechanic grate furnaces and one 25 MW turbine power generator, which is expected to generate on-grid electricity of 151 million kWh annually. Its gas emissions will fully comply with relevant national standards, with the daily average level of online monitored gas emissions superior to the Euro 2010 standard.
Mr. Wang Tianyi, CEO of Everbright International, said, "As one of the counties under the administration of Loudi City in Hunan Province, Xinhua County is an important gateway to the west of Hunan Province and southwest provinces in China. The county is also one of the national poverty-stricken counties that China Everbright Group has been assigned to support. After Xinhua Project completes construction and commences operation, Xinhua County will be able to achieve the harmless treatment, reduction and reuse of waste countywide. Separately, as a key environmental protection project in Liaoyang City, Liaoyang Project will significantly improve the city’s environment. As always, Everbright International will commit to fulfilling its corporate mission of being ‘Devoted to Ecology and Environment for a Beautiful China’, and fully leverage on its resources and advantages in investment, construction, technology, operation, management, among others. The Group aims to develop every one of its projects into a benchmark project with high standard and of good quality."