MAJOR NEW WASTE TO ENERGY & BIOWASTE PROJECTS FOR EVERBRIGHT IN CHINA

Hong Kong based waste to energy project developer, China Everbright International (HKSE: 00257) has signed a concession agreement and an investment agreement with the People’s Government of Mianzhu City, Sichuan Province, for the investment and construction of a household waste to energy project and a biomass power generation project

The company explained that the Mianzhu waste to energy project is designed to have a daily household waste processing capacity of 600 tonnes and will be constructed in two phases.

Project Phase I has a total investment of approximately RMB180 million ($29 million) and a daily household waste processing capacity of 300 tonnes.

It will be constructed on a BOO (Build-Operate-Own) basis for 30 years and its gas emission will comply with the Euro 2000 Standard and is expected to generate 32,500 MWh of electricity annually.

With a total investment of approximately RMB320 million ($51 million), the Mianzhu Biomass Power Generation Project is designed to have an annual agricultural waste and straw processing capacity of approximately 300,000 tonnes.

Everbright said that the plant will be equipped with a 130t/h furnace and a 30 MW power generator to generate 200,000 MWh annually.

The two projects will be located next to each other in the Gongxing Industrial Park of Mianzhu City, Sichuan Province, and will be mainly responsible for processing household waste and agricultural waste and straw from Mianzhu City.

Mianzhu City is currently experiencing rapid economic development, and is said to have rich natural resources and agricultural products, including rice and wheat.

According to Everbright, the estimated amount of collectible agricultural waste and straw totals nearly 380,000 tonnes annually.

The two projects will share the same management team, office buildings and facilities to achieve optimum economic benefits.

“Everbright International has a positive outlook on the future development of Sichuan Province at a time of new development in western China,” Commented Mr. Chen Xiaoping, CEO of Everbright International.

“Last year, the Group established Sichuan Everbright Energy Conservation and Environmental Protection Co., Ltd. and entered into the low-carbon industry in Sichuan Province, followed by the waste to energy and biomass power generation projects secured in Mianzhu,” he continued.

To hear more from Mr. Chen Xiaoping on the subject of securing finance for waste to energy projects in China, don’t miss the next edition of WMW.