22 Jun 2018
Everbright International Secures Guangdong Zhaoqing Waste-to-energy Project
22 June 2018, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has recently secured Zhaoqing Waste-to-energy Project ("Zhaoqing Project") in Guangdong Province through acquisition.
Zhaoqing Project commands an investment of approximately RMB980 million (the consideration for the acquisition inclusive). With a concession period of 30 years, the project is designed to have a daily household waste processing capacity of 1,500 tonnes and is expected to generate green electricity of approximately 180,000,000 kWh annually. It will be equipped with two 750 tonnes/day mechanic grate furnaces and one 45MW turbine power generator. Its gas emissions will fully comply with the Euro 2010 Standard.
Zhaoqing Project marks another breakthrough for Everbright International in Guangdong Province, following the Group's waste-to-energy projects in Boluo, Huidong and Dongguan. As one of the nine major cities located in the Guangdong-Hong Kong-Macau Greater Bay Area, Zhaoqing City was known as "Duanzhou" in ancient times. It was a political, economic and cultural hub with military significance for both Guangdong and Guangxi Provinces in a history stretching more than 2,200 years. Additionally, the city is an important junction between the maritime Silk Road and the land Silk Road, gaining a reputation as a national tourism city with cultural and historical heritage, and China's "Inkstone Capital".
Mr. Wang Tianyi, CEO of Everbright International, said, "Zhaoqing Project is not only the largest benchmark project that Everbright International has invested in the Guangdong-Hong Kong-Macau Greater Bay Area, but also the largest waste-to-energy project in western Guangdong Province. Adhering to its corporate culture of 'Integrity, Pragmatism, Efficiency and Innovation' and its corporate mission of 'Devoted to Ecology and Environment for a Beautiful China', Everbright International will develop the project into a national quality project, according to requirements of the People's Government of Zhaoqing Municipality on the construction of demonstration environmental protection projects. The Group is committed to contributing to the development of a beautiful and ecological Zhaoqing. Furthermore, it will take the project as a breakthrough for further expansion into the region's environmental protection markets, with an aim of pursuing environmental, economic and social benefits."