20 Jun 2010
Everbright International Wins New Biomass Power Generation Projects
Signs Biomass Power Generation Project Framework Agreements in Lixin County of Anhui Province and Shuyang County of Jiangsu ProvinceChina Everbright International Limited ("Everbright International" or "the Group") has signed investment cooperative framework agreements with the People's Governments of Lixin County in Bozhou City of Anhui Province and Shuyang County in Suqian City of Jiangsu Province to invest in constructing biomass power generation projects in the counties using agricultural waste and straw as fuel.
Lixin County of Anhui Province is well vested with biomass resources with an output of about 1.1 million tonnes per annum and is one of the model counties for renewable energy, benefiting from subsidies for renewable resources from the Government. The project has been selected as one of the 861 projects within Anhui Province. The Lixin County Government has strong confidence in the project with policy support. The project, featuring a planned 30MW electricity generator and treating 300,000 tonnes of biomass a year will be built with advanced technology at a total investment of RMB320 million.
Shuyang County in Suqian City of Jiangsu Province is one of the ten largest grain production bases and a major agricultural by-products county in the country, with annual biomass output of 1.6 million tonnes. Equipped with two 12MW power generators with an annual biomass processing capacity of approximately 300,000 tonnes, the project represents a total investment of approximately RMB320 million.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The investment in Lixin and Shuyang biomass power generation projects is an important step forward for Everbright International. These two projects are built on the success of as well as create synergies with the Dangshan biomass power generation project, the Xinyi biomass cogeneration project and the Huaining photovoltaic energy project. The resulting experience in developing and operating biomass power generation projects will enable the Group to enhance its alternative energy projects in the future and, ultimately, strengthen its position in the alternative energy sector."