Everbright International secures Guangdong Boluo Waste-to-energy Project Phase II

14 October 2016, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has signed a supplementary concession agreement with the Urban Appearance and Environmental Sanitation Administration Bureau of Boluo County, Guangdong Province, to invest in and construct the Boluo Waste-to-energy Project ("Boluo Project" or the "Project") Phase II.

Total investment in the Boluo Project Phase II will be approximately RMB180 million. Designed with a daily household waste processing capacity of 350 tonnes, Phase II of the Project will be invested in and constructed on a Build-Operate-Transfer ("BOT") basis and is scheduled to be transferred to the local government at the same time as Phase I. Its gas emissions will fully comply with the Euro 2010 Standard. After Project Phase II is constructed, the total daily waste processing capacity of Boluo Project will reach 1,050 tonnes, and it is expected to generate over 136,000,000 kWh of green electricity annually.

The Boluo Project Phase I completed construction and commenced operations in August 2015. In recent years, the local government has been committed to developing Boluo into an ecologically-friendly and habitable modern city in the Pearl River Delta Region. In light of the county's rapid ecological, agricultural and cultural development, as well as the increase in tourism, there is a growing demand for the harmless treatment, reuse and reduction of waste. In addition, while the performance of the Boluo Project Phase I's operations has been satisfactory, it will soon reach its full operational capacity. With the launch of Project Phase II, the local government and residents will be well-prepared to tackle any environmental issues related to waste treatment.

Mr. Chen Xiaoping, CEO of Everbright International, said, "Boluo Project was Everbright International's first project in Guangdong Province which has completed construction and commenced operations. It is a modern ecological and environmental protection park that embodies the Lingnan culture, while integrating both education about environmental protection and green tourism. The launch of Phase II of the Project exhibits the local government's recognition of Everbright International's quality on project construction and operations management. We will continue to adhere to our philosophy of integrity, pragmatism, efficiency and innovation, and will remain committed to building quality projects and fulfilling our mission of protecting the environment."