20 Oct 2010
Everbright International Secures Two More Biomass Power Generation Projects
Enters the Biomass Power Generation Market in Shandong ProvinceChina Everbright International Limited ("Everbright International" or the "Group") has announced that it has secured two biomass power generation projects in Linyi County in Shandong Province and Hanshan County in Anhui Province with a total investment of approximately RMB640,000,000.
The Group has entered the biomass power generation market in Shandong Province by signing framework agreements with the governments of Linyi Country in Shandong Province and Hanshan County in Anhui Province and to invest and build two biomass power generation projects in the regions. These projects follow similar projects secured in Dangshan County in Anhui Province and Xinyi City and Shuyang County in Jiangsu Province. Currently, the Group owns five biomass power generation projects.
The biomass power generation project in Linyi County, Shandong Province is to be built in two phases. The Phase I will be operated on BOO (Build-Operate-Own) basis with an investment of approximately RMB320,000,000. It will be equipped with one 130t/h furnace and one 30MW electricity generator. The designed annual processing capacity is approximately 300,000 tonnes.
The biomass power generation project in Hanshan County, Anhui Province will be operated on BOO basis with a total investment of approximately RMB320,000,000, including one 130t/h furnace and one 30MW electricity generator. The designed annual processing capacity is approximately 300,000 tonnes.
Mr Chen Xiaoping, Chief Executive Officer of Everbright International, said, "To align with the global trend of demand for alternative energy and to support the national policy, we are focusing on developing alternative energy projects this year. Through diligent efforts, the Group has created a commercial model that fits its biomass power generation projects. The practical experience in construction and operation of projects and escalated efforts in innovation and R&D enables us to develop a technical direction and plant configuration customised to the particular agricultural waste from different regions. By striving to deliver the best results for every project, we can keep our promise to the Government and generate benefits for our shareholders. We also fulfill our social responsibility to address the problem of processing our country's agricultural waste. In the future, the Group plans to develop alternative energy and other environmental protection businesses fully utilising our capabilities while contributing to energy saving and emission reduction in China."