28 Jun 2018
Everbright International Keeps Strong Momentum for Business Development and Secures Multiple Waste-to-energy Projects in Succession
28 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 Xiangyin Waste-to-energy Project ("Xiangyin Project") in Hunan Province, Zoucheng Waste-to-energy Project ("Zoucheng Project") Phase II in Shandong Province, and Pizhou Waste-to-energy Project ("Pizhou Project") Phase II in Jiangsu Province. These projects command a total investment of approximately RMB878 million.
Xiangyin Project has a designed daily household waste processing capacity of 600 tonnes, with an investment of approximately RMB393 million. The project will be invested in and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 30 years. Everbright International and a state-owned enterprise under Hunan Province's administration will jointly establish a project company for the investment, construction, operation and maintenance of the project, with Everbright International holding a 70% equity stake in the project company. Xiangyin Project will be equipped with two 300 tonnes/day mechanical grate furnaces and a 15MW turbine power generator. The project is expected to generate green electricity of approximately 90.70 million kWh annually, with gas emissions fully complying with the Euro 2010 Standard.
Zoucheng Project Phase II is designed with a daily household waste processing capacity of 300 tonnes, commanding an investment of approximately RMB175 million. It will be invested in and constructed on a BOT model. To be equipped with a 300 tonnes/day mechanical grate furnace and a 9MW turbine power generator, the project is expected to generate green electricity of approximately 32.35 million kWh annually, with gas emissions fully complying with the Euro 2010 Standard. Upon commencement of operation of Zoucheng Project Phase II, Zoucheng Project's total designed daily waste processing capacity will be boosted to 900 tonnes.
Pizhou Project Phase II has a designed daily household waste processing capacity of 600 tonnes, commanding an investment of RMB310 million. The project will also be invested in and constructed on a BOT model. Equipped with a 600 tonnes/day mechanic grate furnace and a 12MW turbine power generator, the project is expected to generate green electricity of 68 million kWh annually, with gas emissions fully complying with the Euro 2010 Standard. Upon commencement of operation of Pizhou Project Phase II, the total designed daily household waste processing capacity of Pizhou Project will be increased to 1,200 tonnes.
Mr. Wang Tianyi, CEO of Everbright International, said, "Everbright International has been maintaining robust momentum for business development since the beginning of this year. So far this year, the Group has secured 10 waste-to-energy projects, twice the number of the same period in 2017. These projects command a total investment of approximately RMB5.144 billion, and contribute to the Group's total designed daily household waste processing capacity by 10,350 tonnes. Among these projects, some are located in new provincial markets, while some are phase II or expansion projects of the Group's existing projects. This not only shows the industry's rapid expansion, but also showcases that the Group's strengths in construction and operation have been well recognised by the local governments. Adhering to its corporate mission of being ‘Devoted to Ecology and Environment for a Beautiful China', and its operational philosophy of ‘Pursuing Excellence and Close to Zero Discharge', Everbright International will strive to develop each project into a local quality and benchmark project. This will fulfill the local government's demand for the better treatment of household waste, and further promote the harmless treatment, reduction and reuse of the local household waste, in order to achieve concurrent development of social, environmental, and economic benefits."