Everbright International secures new PPP contracts

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Everbright International secures new PPP contracts

China Everbright International Limited has signed two concession agreements and two investment agreement for four PPP projects in China.

Specifically, Everbright International has signed a concession agreement for the Fengyang waste-to-energy PPP project and an investment agreement for the Fengyang biomass power generation PPP project with the People's Government of Fengyang County, Chuzhou City of Anhui Province.

The group has also signed a concession agreement for a municipal solid waste (MSW)-fired cogeneration PPP project and an investment agreement for a biomass power generation project with the People's Government of Liuhe District, Nanjing City of Jiangsu Province, and will invest in the construction of the urban-rural integration project, including the Liuhe MSW-fired Cogeneration PPP project and the Liuhe Biomass Power Generation PPP project.

The projects are described below:

  • Fengyang Waste-to-energy PPP project has a designed daily household waste processing capacity of 800 tonnes, and will be constructed in two phases. Phase I has a daily household waste processing capacity of 400 tonnes with a total investment of RMB230 million (US$36.1 million). The project will be constructed on a build, operate, and own (BOO) basis with a concession period of 30 years. It is expected to generate approximately 44,000,000 kWh of green electricity annually.
  • Fengyang Biomass Power Generation PPP project will also be constructed in two phases. The total investment of project Phase I is approximately RMB320 million (US$50.3 million), with a designed annual agricultural waste and straw processing capacity of 300,000 tonnes and will be equipped with a 130t/h furnace and a 30MW power generator to generate 214,000,000 kWh of green electricity annually.
  • Liuhe MSW-fired Cogeneration PPP project has a designed daily household waste processing capacity of 500 tonnes, with a total investment of approximately RMB280 million (US$43.9 million). The project will be built on a BOO basis as well, with a concession period of 30 years. In addition, it is expected to generate approximately 7,000,000 kWh of green electricity and 260,000 tonnes of steam annually.
  • Liuhe Biomass Power Generation PPP project commands a total investment of approximately RMB245 million (US$38.5 million), with a designed annual agricultural waste and straw processing capacity of approximately 180,000 tonnes. It will be equipped with a 75 t/h furnace and an 18 MW power generator to generate approximately 112,000,000 kWh of green electricity annually.
Mr. Chen Xiaoping, CEO of Everbright International, said,

"In the first half of this year, Everbright International adjusted its business segments, established a new Greentech sector to replace the Alternative Energy sector. Currently, Greentech sector includes biomass integrated utilisation projects, hazardous waste treatment projects, photovoltaic energy projects and wind power projects. Among these types of projects, biomass integrated utilisation projects have successfully established four business models, including the urban-rural integration, biomass direct combustion power generation, biomass cogeneration/centralized heating and biomass molding fuel. The systematic processing of agricultural waste and straw effectively solved the air pollution problem caused by the burning and littering of straw and reduced environmental pollution, while also converting waste to energy, generating mutual benefits for local farmers and boosting economic development."

"The waste-to-energy and biomass power generation urban-rural integration projects will be constructed close to each other and mainly process household waste and agricultural straw collected from the area and the surrounding cities and counties. The two projects will share one management team, office, production water supply and cooling system as well as other facilities, resulting in operation cost saving. The two urban-rural integration projects mark another breakthrough for Everbright International in the development of this business following the Group's success in Lingbi, Dangshan, Xiao County and Guanyun County of Anhui Province and Mianzhu City in Sichuan Province. These projects are conducive to the Group's integrated planning and resource allocation in the areas and help achieve greater economic benefits."

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