Media
News Release
07 Aug 2019

Everbright International Signs Five Waste-to-energy Projects
Contributing a Daily Waste Processing Capacity of 5,250 Tonnes


7 August 2019, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) is pleased to announce that the Group recently signed five waste-to-energy projects, with a total investment of approximately RMB4.386 billion and contributing a designed daily waste processing capacity of 5,250 tonnes. These projects include: Harbin Yuquan Waste-to-energy Project ("Harbin Project") in Heilongjiang Province, Nanyang Waste-to-energy Project ("Nanyang Project") Phase I in Henan Province, Jiangshan Waste-to-energy Project ("Jiangshan Project") Phase I in Zhejiang Province, Meizhou Wuhua Waste-to-energy Project ("Wuhua Project") Phase I in Guangdong Province, and Tengzhou Waste-to-energy Project ("Tengzhou Project") Phase II in Shandong Province.

The bidding of Harbin Project was secured by a consortium that was established by Everbright International and Harbin Electric Corporation Co., Ltd. ("Harbin Electric Corporation"). The consortium recently signed a concession agreement on Harbin Project with Harbin Urban Administration Bureau. Pursuant to the agreement, the project will be invested in, constructed and operated on a BOT (Build-Operate-Transfer) model by a project company, which will be jointly set up by Everbright International and Harbin Electric Corporation. The concession period will be 30 years (construction period inclusive). Harbin Project commands an investment of approximately RMB2.565 billion and the Group will hold an 85% stake in the project company. With a designed daily waste processing capacity of 2,250 tonnes, it will be equipped with three 750 tonnes/day grate furnaces, two 25MW turbine power generators, as well as one ancillary landfill site and a fly ash treatment facility. Harbin Project is expected to generate green electricity of approximately 260 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.

Nanyang Project will be invested in and constructed 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 2,250 tonnes, the project will be constructed in two phases. Nanyang Project Phase I commands an investment of approximately RMB870 million and has a designed daily waste processing capacity of 1,500 tonnes. Everbright International will hold a 65% stake in the project. It will be equipped with two 750 tonnes/day mechanic grate furnaces and two 20MW turbine power generators. The project is expected to generate green electricity of 163 million kWh annually. The 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.

Jiangshan Project will also be invested in and constructed on a PPP model for a concession period of 30 years (construction period inclusive). With a total designed daily waste processing capacity of 800 tonnes, the project will be constructed in two phases. Jiangshan Project Phase I commands an investment of approximately RMB330 million and has a designed daily waste processing capacity of 400 tonnes. Equipped with a 400 tonnes/day mechanic grate furnace and a 7.5MW turbine power generator, the project is expected to generate green electricity of 59 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.

Wuhua Project will be invested in and constructed on a PPP 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. Wuhua Project Phase I commands an investment of approximately RMB468 million, with a designed daily waste processing capacity of 700 tonnes. Equipped with two 350 tonnes/day grate furnaces and an 18MW turbine power generator, the project is expected to generate approximately 84 million kWh of green electricity 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.

Lastly, Tengzhou Project Phase I completed construction and commenced operation in 2016, with a daily waste processing capacity of 600 tonnes. Given the continued economic growth of Tengzhou City, enhancement of the local living standard, improvement of the city's waste collection and transportation system, as well as more waste generation locally on a daily basis, the launch of Tengzhou Project Phase II will be able to provide more efficient harmless treatment of the local household waste. Tengzhou Project Phase II has a designed daily waste processing capacity of 400 tonnes and commands an investment of approximately RMB153 million. The project is expected to generate on-grid electricity of approximately 38.6 million kWh annually. In addition, the 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, "Entering into the second half of 2019, Everbright International has continued its sound growth momentum of the first half. Starting from July, the Group has signed five waste-to-energy projects with a total daily waste processing capacity of 5,250 tonnes. Counting in the capacities of the second phases of these projects that are expected to be developed in the future, the total daily waste processing capacity of these projects could reach nearly 7,000 tonnes. Among these projects, Harbin Project marks the Group's entry into the solid waste treatment market in Heilongjiang Province. Successful bidding of this project also demonstrates that the brand and merits of Everbright International have been highly recognised by the local governments and communities in various places. The Group is committed to achieving ultra-low emissions and opening up its environmental protection facilities for public visits. Upholding the corporate value of 'Creating Better Investment Value and Undertaking more Social Responsibility', Everbright International has been consistently striving to adopt high standards to develop and operate projects with high quality."

Mr. Wang Tianyi highlighted, "Waste treatment is in the interest of both businesses and social development. China has enjoyed rapid economic and social development since it entered a golden era over the past 40 years, when it launched the reform and opening-up policies. However, the issue of 'waste siege' has posed significant challenges to the country's ecological environment. In December 2018, the General Office of the State Council of the People's Republic of China issued the Plan for Pilot Development of Solid Zero-Waste Cities. Led by such a new development philosophy, the country aims to continuously promote the reduction of solid waste from the source and reuse of waste, through promotion and cultivation of green development models and green lifestyle across the society. Everbright International has been dedicated to optimising its full-chain business in the field of solid waste treatment, and actively taking part in the development of 'zero-waste cities', in order to work with its stakeholders to continuously boost economic, social and environmental values."