22 May 2011
Everbright International's Huaining Photovoltaic Power Station Successfully Connected to The Power Grid And Started Solar Power Generation
Further Enhances Its Leading Position in Alternative Energy SectorChina Everbright International Limited ("Everbright International" or "the Group") is pleased to announce the total investment of RMB50 million, Everbright International's photovoltaic power station in Huaining City, Anhui Province has been connected to the power grid and has started solar power generation, which further enhances the Group's leading position in the alternative energy sector.
The Huaining photovoltaic energy project ("Huaining Project") is the first Golden Sun Demonstration Project constructed and operated in Anhui Province and among the first batch jointly approved by the Ministry of Finance, Bureau of Energy and Ministry of Science and Technology in 2009. This large on-grid power station has a total generation capacity of 2MW. Of the total investment of RMB50 million, the first subsidized installment of RMB17.49 million (ie, 70%) granted by the Ministry of Finance was obtained.
Huaining Project marks the fourth photovoltaic project that has been completed and operated by the Group following the photovoltaic power stations in Shenzhen, Suqian and Zhenjiang. The project has covered an area of 120 aces, deploying amorphous silicon thin film photovoltaic technology. After its generation capacity reaches 10kV, it will be connected to the power grid substation of Huaining Power Company. After the power station started electricity generation, around 2,300,000 kW of green power will be generated for the district each year. It does not only save 780 tonnes of standard coal, 12.38 tonnes of fuel and gas, also reduce the pollutants such as CO2 and SO2 by 2,773 tonnes and 10.26 tonnes per year.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "the successful commencement of the Group's Huaining Project clearly demonstrates that Everbright International has adequately grasped the technical requirements of solar energy projects. This in turn, positively affects the Group's future exploitation of the alternative energy business both within China and abroad. Currently the Group's solar energy operations are primarily spread over Jiangsu and Guangdong Provinces of China, and Germany, and are sufficiently large to achieve greater economies of scale and business synergies. Looking ahead, Everbright International continues to uphold its corporate principles to "develop environmental protection business, create beautiful environment, construct pioneer projects, and reward the public". The Group also intends to boost the competitiveness of its core environmental protection business and increase its investment in research and development to further consolidate its leading position in the alternative energy sector, and operate projects with a high degree of social responsibility."