400 TPD Second Phase of Energy from Waste Project : $25m Rizhao Waste to Energy Deal for Everbright in Shandong, China
Hong Kong based environmental services firm, China Everbright International Limited (HKSE: 00257), has signed a supplementary concession agreement to invest in and construct Rizhao waste to energy Project Phase II.
The agreement was reached with the Rizhao Bureau of Housing and Urban-rural Development, Shandong Province and represents a total investment of approximately RMB168 million ($25 million).
The company explained that it is making the investment on a BOT ("Build-Operate-Transfer") basis.
The plant has a daily household waste processing capacity of 400 tonnes and will be equipped one 9MW turbine power generator. Its gas emissions will fully comply with the Euro 2010 Standard.
The Project Phase I commenced operation in October 2015 with an investment of approximately RMB350 million ($45 million).
Once the Project Phase II completes construction, the total daily waste processing capacity of Rizhao Project will increase to 1000 tonnes, and is expected to generate annual average green electricity of approximately 130,000 MWh, which will further accelerate the harmless treatment, reduction and reuse of the local household waste.
"With continuous social and economic developments, as well as the improvement in living standards in Rizhao City, there has been an increasing demand for the treatment of household waste in the city,” explained Mr. Hu Yanguo, CEO of Environmental Energy Sector at Everbright International.
“The signing of Rizhao Project Phase II will be able to address this demand in a timely manner. It is also a testament to the recognition of Everbright International from Rizhao Municipal Government and the local residents. Rizhao City received the UN-Habitat Scroll of Honor Award in 2009 for its outstanding achievements in living and ecological environment planning,” he concluded.
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