08 Dec 2016
Everbright International Secures Henan Puyang Biomass Project and Sichuan Zhongjiang Integrated Biomass and Waste-to-energy Project (Biomass)8 December 2016, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently secured Henan Puyang Biomass Electricity and Heat Cogeneration Project and Sichuan Zhongjiang Integrated Biomass and Waste-to-energy Project (Biomass), with a total investment amounted to approximately RMB606 million.
Everbright International signed an investment agreement with the People's Government of Hualong District in Puyang City of Henan Province on 27 October to invest in and construct Puyang Biomass Electricity and Heat Cogeneration Project. A total of RMB306 million will be invested into the project, which will be constructed on a BOO (Build-Operate-Own) model, with an annual biomass material processing designed capacity of 300,000 tonnes. It is also expected to generate approximately 200,000,000 kWh of green electricity annually. Puyang City, located in the northeastern part of Henan Province, is a major commodity grain base in China and also a major grain and cotton production zone in the province. The city has rich biomass resources, with a number of agricultural products such as wheat, corn, rice, soybean, cotton and peanut.
In addition, the Group also entered into an investment agreement with the People's Government of Zhongjiang County in Sichuan Province on 24 November to invest in and construct Zhongjiang Integrated Biomass and Waste-to-energy Project (Biomass). The project will be constructed on a BOO (Build-Operate-Own) model with a total investment of approximately RMB300 million. It is designed to have an annual biomass material processing capacity of 300,000 tonnes and is expected to generate approximately 209,000,000 kWh of green electricity annually. Zhongjiang County is rich in forest and agricultural biomass resources. Major biomass fuel materials from the county include corn, rice and wheat straw, rice hull, forestry waste and construction formwork waste.
Mr. Chen Xiaoping, CEO of Everbright International, said, "The National Energy Administration of China recently published the '13th Five Year Plan for Biomass Development'. Biomass, which is a green, low-carbon, clean and renewable energy source, is set for rapid growth. In order to improve the environment and develop a circular economy, speeding up the development and utilization of biomass is one of the country's most important missions. Without doubt, the plan clearly sets out the development path of the biomass industry, and will positively stimulate the development of the industry. With the guidance and encouragement of the policy, we feel very confident and will seize the opportunities to make our business thrive. We will operate in accordance with local needs by strategically planning various businesses, including the urban-rural integration projects, biomass electricity and heat cogeneration projects and household waste-to-energy projects. We will also enhance our R&D capability to promote greater utilization of biomass materials in order to continually benefit the environment, economy and society."