Media
News Release
06 Sep 2018

Everbright International Sees Strong Momentum in Business Expansion Winning Bids for Two Waste-to-energy Projects in a Row


6 September 2018, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently won the bids for Xiaochang Household Waste-to-energy PPP Project ("Xiaochang Project") in Hubei Province and Weishan Waste-to-energy Project ("Weishan Project") in Shandong Province respectively, with a total investment of approximately RMB770 million.

Xiaochang Project, with an investment of approximately RMB348 million, has a designed daily household waste processing capacity of 600 tonnes. The project will be invested in and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 30 years. To be equipped with two 300 tonnes/day mechanical grate furnaces and a 12MW turbine power generator, Xiaochang Project is expected to generate green electricity of approximately 68 million kWh annually, with gas emissions fully complying with relevant national standards and daily average level of online monitored gas emissions superior to the Euro 2010 Standard.

Weishan Project, which will be constructed in two phases, has a total designed daily household waste processing capacity of 900 tonnes. To be invested in and constructed on a BOT model for a concession period of 30 years (construction period exclusive), Phase I of the project has a designed daily household waste processing capacity of 600 tonnes and commands an investment of approximately RMB422 million. It will be equipped with two 300 tonnes/day mechanical grate furnaces and a 12MW turbine power generator, and is expected to generate green electricity of approximately 69 million kWh annually. Gas emissions of phase I of Weishan Project will fully comply with relevant national standards, with the daily average level of online monitored gas emissions outperforming the Euro 2010 Standard.

Mr. Wang Tianyi, CEO of Everbright International, said, "Winning bids for Xiaochang Project and Weishan Project once again demonstrates the Group's strong ability in business expansion. It also signifies another breakthrough, with the Group's entering a new province for its waste-to-energy business, which is under the environmental energy sector. As the Group has tapped into the waste-to-energy, waste water treatment and integrated biomass utilisation business segments in Hubei's environmental protection industry, Everbright International aims to gradually enhance its strategic planning in the Hubei market, and continue solidifying its leading position in the Shandong market."

Mr. Wang continued, "According to the '13th Five-year Plan for the Construction of Harmless Treatment Facilities for Urban Domestic Wastes', by the end of 2020, the municipal solid waste incineration capacity of cities is expected to account for more than half of the total capacity of harmless treatment, and the scale of national waste incineration facilities is expected to increase from 235,200 tonnes/day in 2015 to 591,400 tonnes/day in 2020, with an average annual increase of 71,000 tonnes/day. As we have entered the second half of the 13th Five-year Plan period, China's waste-to-energy industry is expected to accelerate the pace of its development. Following its record-high business expansion results in the first half of 2018 by securing waste-to-energy projects with a total daily waste processing capacity of 11,000 tonnes, Everbright International will strive to secure more quality projects. In addition, by leveraging sufficient funds raised from its rights issue arrangement, the Group will seek high-quality, sustainable development and further solidify its industry-leading positon."