China Everbright International Limited (HKSE: 00257), a Hong Kong based environmental services provider, has signed a concession agreement for a household waste to energy project with the People's Government of Linshu County, Shandong Province, China.
The Group said that as part of the deal it will invest in the construction of Linshu Waste to energy Project.
To cope with the ongoing urban development of the area, the Linshu County Government was said to be pushing forward with waste to energy project, which will mainly process household waste from local urban and rural areas, will effectively improve the overall urban environment of the county.
The project will be constructed on a BOT (Build-Operate-Transfer) basis with a concession period of 30 years. It has a designed daily household waste processing capacity of 800 tonnes, and will be constructed in two phases.
Phase I has a daily household waste processing capacity of 500 tonnes with a total investment of approximately RMB270 million ($41.7 million).
According to Everbright gas emissions will fully comply with the Euro 2000 Standard and it is expected to generate approximately 56,000,000 kWh of green electricity annually.
"Shandong Province has always been one of the most important markets for Everbright International,:” explained Mr. Chen Xiaoping, CEO of Everbright International, “To date, the Group has invested in over 40 environmental energy, environmental water and greentech projects across 17 counties and cities in the province.”
He added that the Linshu Project is the Group's 12th waste to energy project in Shandong Pronvince, and will help to solve local environmental issues, and contribute to the sustainable development and the improvement of local living standards."
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