13 Nov 2018
Everbright International Secures Hainan Sanya Waste-to-energy Plant Expansion Project
13 November 2018, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has recently secured Hainan Sanya Waste-to-energy Plant Expansion Project ("Sanya Expansion Project") upon signing of a concession agreement on the project, which commands a total investment of approximately RMB860 million.
Pursuant to the agreement, Sanya Expansion Project will be invested in and constructed based on a BOT (Built-Operate-Transfer) model, with a concession period of 24 years. Sanya Waste-to-energy Project Phase I and II will extend their concession periods by 3 years respectively so as to be transferred to the local government at the same time with Sanya Expansion Project.
Sanya Expansion Project has a total designed daily household waste processing capacity of 1,800 tonnes. The project will first invest in approximately RMB640 million to develop a plant that has a daily designed processing capacity of 1,200 tonnes and is expected to generate green electricity of approximately 150 million kWh annually. The remaining daily waste processing capacity of 600 tonnes will be added depending on the local demands for waste treatment in the future. Gas emissions at Sanya Expansion Project will comply with the Letter of Hainan Ecology and Environment Bureau on Opinions regarding Pollutant Emission Standards of New and Expanded Household Waste-to-energy Projects (No.991 Letter on Environment, Hainan Province ), with the daily average level of online monitored gas emissions superior to the Euro 2010 Standard.
Mr. Wang Tianyi, CEO of Everbright International, said, "The strong brand influence and market expansion capability have become a new engine that fuels Everbright International's rapid and stable development. Following the Group having won the bids for two large projects in Tianjin Municipality, the signing of another large project with a daily waste processing capacity above 1,000 tonnes well demonstrates the Group's efforts in tapping market potential and enhancing its market planning."
Mr. Wang Tianyi emphasised that, "Sanya Expansion Project is Everbright International's fifth waste-to-energy project in Hainan Province. It is also the first project signed by the Group, following the signing of the strategic cooperation framework agreement between China Everbright Group and the Sanya Municipal People's Government in May this year. The successful signing of the agreement on Sanya Expansion Project showcases the Group's effective implementation of China Everbright Group's strategic plans. It also shows that Everbright International will further enhance its cooperation with Hainan Province in the environmental protection industry, in an effort to facilitate the development of the Hainan Pilot Free Trade Zone and free trade ports with Chinese Characteristics, with an aim of facilitating Sanya to become a world-class city with strengths in ‘intelligence, ecology and tourism'."