Hong Kong based waste to energy firm, China Everbright International Limited (HKSE: 00257) has signed agreements for the Huidong Waste-to-energy Project Phase II in Guangdong Province and Baoying Waste-to-energy Project in Jiangsu Province, commanding a total investment of approximately RMB644 million ($95 million).
The company said that it also signed a supplemental agreement to the concession agreement of Huidong Project with the People’s Government of Huidong County, Guangdong Province. Accordingly, the Huidong Project Phase II will be constructed on a BOT (Build-Operate-Transfer) model, commanding a total investment of approximately RMB219 million ($32 million).
The waste to energy plant will have a designed daily household waste processing capacity of 600 tonnes and gas emissions which comply with the Euro 2010 Standard.
Construction on the Huidong Project Phase I project, which also has a designed waste processing capacity of 600 tonnes, commenced in September 2016 and is said to be progressing smoothly. Phase II will bring total capacity to 1200 tonnes per day and energy generation to more than 141,597 MWh annually.
The Group has also signed a Public-Private-Partnership project agreement with the Urban Management Bureau of Baoying County, Jiangsu Province.
Under the deal the firm will form a joint venture company with Baoying Urban Construction Investment and Development Company Limited to invest in and construct Baoying Project on a BOT model.
The project, which has a concession period of 30 years, is estimated to command a total investment of approximately RMB425 million ($62 million) and the Everbright will hold an 87.2% stake in the joint venture company.
The Baoying Project is designed with a daily household waste processing capacity of 500 tonnes and is expected to generate approximately 70,000 MWh of electricity annually. Its gas emissions will also comply with the Euro 2010 Standard.
The Baoying Project is a pilot PPP project in Jiangsu Province. The county is the origin of China’s South-to-North Water Diversion Project (Eastern Route) and is among the first batch of China’s ecological demonstration zones.
According to Everbright the introduction of up-to-date waste treatment will help further improve public hygiene and ecological environment in the local area.
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