China Everbright International Limited has signed a concession agreement for a household waste-to-energy project with the People's Government of Lankao County in Henan Province, China.The Lankao Project will be constructed on a build, operate and owns (BOO) basis with a concession period of 30 years.
The new facilities has a designed daily household waste processing capacity of 800 tonnes, and will be constructed in two phases. Phase I of the project has a daily household waste processing capacity of 500 tonnes, with a total investment of approximately RMB280 million (US$44 million). It is expected to generate approximately 52,000,000 kWh of green electricity annually.In addition, Everbright International has also signed an investment cooperation framework agreement for an environmental protection veinous industrial park with the People's Government of Lankao County.
The group is expected to invest approximately RMB3 billion in the construction of a number of environmental protection projects, including the aforementioned household waste-to-energy project, water restoration projects, biomass integrated utilisation projects and hazardous waste integrated treatment projects etc. over the next three to five years. These projects will provide one-stop comprehensive integrated services to facilitate the environmental management of Lankao County.Mr. Chen Xiaoping, CEO of Everbright International, said,
"As the environmental protection market evolves, Everbright International has implemented the strategy of growing its business from coastal cities to inland areas based on its insights on market trends. Last year, the Group secured waste-to-energy projects in several inland provinces including Anhui, Hunan, Henan, and Sichuan. These landmark projects demonstrate the Group's expansion from coastal cities - its traditional development area - to inland areas. The agreement for the Lankao environmental protection veinous industrial park not only reflects the trust and recognition of the People's Government of Lankao County in Everbright International, but also shows the Group has further strengthened its regional planning. Adhering to the principle of Implementing Projects with One Success Followed by Another, Everbright International aims to build first-class quality pilot projects of the highest standards to contribute to the environmental restoration of Lankao County."