16 Aug 2010
Everbright International achieves Major Breakthrough in VER Project
Successfully Develops CDM Project
China Everbright International Limited ("Everbright International" or the "Group") is pleased to announce that it has received the first revenue generated from the Voluntary Emission Reduction (VER) project. The VER project was registered by the Group's Suzhou Methane-to-Energy project in April 2009. The receipt marked a major breakthrough for Everbright International in its efforts in the carbon emission reduction. The Group has also announced that it has submitted registration for its Dangshan Biomass Power Generation Project under the Clean Development Mechanism (CDM).
The Suzhou Methane Project is the first VER project in the PRC to achieve the Gold Standard certification. Between 22 April 2007 and 31 July 2009, the total certified emission reduction of the project was 204,337 tonnes.
The Group can draw on this successful experience of the Suzhou Methane VER Project when developing carbon emission reduction projects elsewhere. In August this year, the Group applied to register for CDM recognition for its Dangshan Biomass Power Generation Project with an expected annual emission reduction of approximately 130,000 tonnes.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Since the launch of its environmental protection business, Everbright International has made continuous progress from conventional waste processing and waster water treatment to alternative energy projects. These projects have been undertaken solely on a joint venture or majority-held basis, then expanded to include construction and operation and further evolved to have its own self-developed equipment. Innovations in income sources, processing technology, construction design and techniques, facilities development, supply chain and strategic market provision of services were made one after another. While the Group continues to increase the income from the development of the VER and CDM certified projects, it will also contribute to the environmental protection of the country and generate better returns for the shareholders."