26 Jun 2018
Everbright International Secures Shandong Qixia Waste-to-energy and Heat Supply PPP Project
26 June 2018, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has won the bid for Shandong Qixia Waste-to-energy and Heat Supply PPP Project ("Qixia Project" or the "Project"), with a leading score for the overall bidding process. The Group signed an agreement with the Housing, Planning and Construction Administration Bureau of Qixia City (棲霞市住房和規劃建設管理局) to invest in the Project, which commands an investment of approximately RMB362 million.
Qixia Project will be invested in and constructed on a BOT (Build-Operate-Transfer) model, with a concession period of 30 years. The Project has a daily designed household waste processing capacity of 500 tonnes. It will be equipped with two 250 tonnes/day mechanical grate furnaces and one 10MW turbine power generator. While utilising the heat generated from the waste incineration process, the Project will also be equipped with 2 biomass furnaces for heat supply, with a service area of 670,000 m2. The Project is expected to generate green electricity of approximately 65.88 million kWh annually. Its gas emission will fully comply with the Euro 2010 Standard.
Qixia City, which is under the administration of Yantai City of Shandong Province, has a long history and rich culture. Currently, the city has only one household waste landfill site responsible for processing household waste from the urban area and sub-districts of the towns under the city. Given the rapid development of urban-rural environmental sanitation integration in the city, the waste-to-energy technology will effectively help Qixia City to achieve the harmless treatment, reduction and reuse of the local household waste.
Mr. Wang Tianyi, CEO of Everbright International, said, "Qixia Project is Everbright International's 21st waste-to-energy project in Shandong Province, where the Group's total daily household waste processing capacity has reached 14,850 tonnes to date. Qixia Project plays a vital role in further solidifying the Group's market position in Shandong Province. Adhering to its operational philosophy of ‘Integrity, Pragmatism, Efficiency and Innovation' and its branding strategy of ‘Produce Quality Projects and Build a Quality Brand', Everbright International will strive to develop Qixia Project into another quality and benchmark project in the province, to effectively improve the harmless treatment, reduction and reuse of the local household waste. Through these efforts, the Group aims to further improve the living environment for the local residents, and to facilitate Qixia City's role as a key ecological safeguard for the region."