China Everbright International (HKSE: 00257) has won the bid for Shenyang Daxin waste to energy Project in Liaoning Province and signed a Public-Private Partnership agreement with Liaoning Shenyang City Construction Administration Bureau.
Under the terms of the deal the firm said that it will invest in and construct the project, with a total investment of approximately RMB1.454 billion ($220 million) working alongside a company representing Shenyang Municipal Government.
The joint venture, in which Everbright will hold an equity stake of 66%, will be responsible for the investment, construction and operation management of Daxin Project,
The Daxin waste to energy project has a designed daily household waste processing capacity of 3000 tonnes and a concession period of 30 years (construction period inclusive).
The project is expected to generate approximately 250,000 MWh of electricity annually and have gas emissions that fully comply with the Euro 2010 Standard.
The company explained that as the capital city of Liaoning Province, Shenyang City lies at the centre of the northeast Asia economic zone and the Bohai Economic Rim, and is a core city in northeast China.
The Shenyang Municipal Government has placed a lot of emphasis on environmental protection and received multiple honours, including "National Civilised City" and "The National Environmental Protection Exemplary City.
"Daxin Project is Everbright International’s first waste to energy project in Northeast China,” noted Mr. Hu Yanguo, CEO of Environmental Energy Sector at Everbright International.
“The signing of the project is also in line with the requirements on pushing forward the construction works in relation to garbage and solid waste treatment and promoting the construction of household waste to energy projects, which were listed in the Highlights of the Work on Energy Conservation and Emission Reduction for 2017 recently issued by Shenyang Municipal Government,” he added.
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