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China Everbright International Limited has signed a concession agreement with the government of Pei County in Xuzhou of Jiangsu Province (China), for the investment, construction and operation of Pei County Household Waste-to-energy PPP project. In addition, the group has signed a concession agreement with the government of Beilun District in Ningbo of Zhejiang Province (China), for the expansion of Ningbo Beilun Waste-to-energy PPP project Phase II.
Pei County Project will be constructed on a BOT (Build-Operate-Transfer) basis for 25 years. It will be constructed in two phases with a total designed daily household waste processing capacity of 800 tonnes. With a total investment of RMB250 million (US$40.6 million), Pei County Project Phase I is designed to have a daily household waste processing capacity of 400 tonnes and is expected to generate green electricity of over 60,000,000 kWh annually. Its gas emissions will fully comply with the Euro 2000 Standard.
Located in the north-western Xuzhou of Jiangsu Province, Pei County covers the borders of Jiangsu, Shandong, Henan and Anhui Provinces, and boasts a prime location as a major transport hub for the surrounding provinces. With a population of 120 million, Pei County is also the center of Huaihai Economic Zone and is one of the 100 most economically competitive counties in China.
The group also secured Ningbo Project in 2012 which has been mainly responsible for household waste treatment in Beilun and Jiangdong Districts of Ningbo City. Ningbo Project Phase I completed construction and commenced operation at the beginning of 2014 and has a designed daily household waste processing capacity of 1,000 tonnes. Project Phase I is operating effectively and running almost to full capacity. As such, the Group will start to develop Ningbo Project Phase II. Ningbo Project Phase II commands a total investment of approximately RMB190 million (US$30.8 million) and is designed to have a daily household waste processing capacity of 500 tonnes, and generate green electricity of over 56,000,000 kWh annually. Its gas emissions will fully comply with the Euro 2000 Standard.
Mr. Chen Xiaoping, CEO of Everbright International, stated:
Jiangsu Province has always been an area of strategic significance to Everbright International's waste-to-energy business. By securing Pei County Project, the Group has not only further consolidated its leading position in the Jiangsu market but also demonstrated the Group's development approach of extending its reach to other parts of the industrial chain from its existing areas of investment. At the same time, we actively expanded our core environmental protection projects and further broadened our footprint in Zhejiang Province with the expansion of Ningbo Project Phase II. We will construct a quality demonstration project in the region and aim to develop Ningbo Project into a new landmark along the East China coast.