19 Jul 2009
Everbright International Actively Taps the Alternative Energy SectorChina Everbright International Limited ("Everbright International" or "the Group") announced that it has signed a cooperative framework contract with the Peoples' Government of Zibo High-tech Industrial Development Zone in Shandong Province on alternative energy and ecological restoration projects, an urban alternative energy and new material development cooperative framework agreement with the Peoples' Government of Dezhou City in Shandong Province and a memorandum of understanding ("MOU") with Belgium-based 3E S.A. ("3E Company") on alternative energy technology development.
Alternative Energy and Ecological Restoration Projects
Everbright International will be granted the right to develop, invest, construct, operate and maintain ecological restoration projects in Zibo Hi-tech Industrial Development Zone ("the Zone"). Everbright International will provide significant support to Zibo City in alternative energy developments, including the proposed investment projects such as integrated development and use of solar power, wind power and biomass heating systems in rural areas. And the Group will also be granted the right to develop, invest, construct and operate a waste water heat pump development and usage project in the Zone. Peoples' Government of Dezhou City strongly supports Everbright International to acquire the existing waste water treatment and water supply projects in Dezhou City (including all counties) on "TOT" basis. It also encourages the Group to invest, construct and operate the waste water treatment, urban water supply, reusable water, household waste-to-energy, alternative energy and new material development projects in the city (including all counties) on "BOT" basis.
Establishing Cooperative Ties on Developing Alternative Energy-related Initiatives
Everbright International signed a MOU with 3E Company on alternative energy development. 3E Company is an international independent professional technology company engaging in renewable energy and energy conservation related businesses. The objective of the MOU is to establish long-term strategic relationship, combining the strengths of the two parties as well as cooperating in different energy-related schemes.
Registered VER Project
Besides, Everbright International's Suzhou Waste Landfill Methane-to-energy Project completed registration on Voluntary Emission Reduction (VER). The project is the first VER project being successfully registered with the Gold Standard Foundation. VER is developed from the Clean Development Mechanism (CDM) under the Kyoto Protocol, which created a VER market. This project will not only bring considerable economic benefits to Everbright International, but will also help to enhance the Group's corporate image and bring about enormous environmental and social benefits to the society.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The operation of the alternative energy sector is a developing strategy adopted by Everbright International to evolve from a conventional environmental protection company to a high-tech environmental protection company. This is an important move to ensure that the Group is able to achieve sustainable development. Currently, six alternative energy projects have been completed or are under construction, including Suzhou Waste Landfill Methane-to-energy Project, Leachate Methane-to-energy Projects in Suzhou, Yixing, Changzhou and Jiangyin, as well as Sludge Methane-to-energy Project in Qingdao. Looking ahead, our developing strategy will focus on alternative energy business including wind power, solar energy and biomass power. We will continue to increase our investment and accelerate the planning and implementation of projects in Yangtze River Delta, Pearl River Delta and Bohai Coastal Area, to ensure the Group's standing on solid ground ahead of new rounds of international competition."