Hong Kong based waste to energy firm, China Everbright International (SEHK: 00257) has increased revenue to over HK$5.3 billion ($686 million) and reported significantly higher profits for the year ending 31 December 2013.
During the year under review, the company said that its consolidated turnover amounted to HK$5,319,866,000 - an increase of 56% from 2012.
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) on recurring basis amounted to nearly HK$2.218 billion ($286 million) -an increase of 42% from 2012.
The company said that its environmental protection projects processed a total of 4.423 million tonnes of household waste 68,000 tonnes of industrial and hazardous waste of and generated a total on-grid electricity of over 1 million GWh of electrical energy - an increase of 19%, 51%, and 27% respectively as compared with 2012.
Gate Fee Increases
Separately, the company has been granted permission to increase gate fees at three of its Chinese waste to energy facilities in Changzhou, Yixing and (pictured).
The company said that its Changzhou waste to energy project has been approved to increase its fee by 5.3%. It is the second fee adjustment to come into effect at the plant since 2008.
According to China Everbright, the Changzhou plant is China’s only waste to energy plant located in the urban area and processes over 1000 tonnes per day of household waste to generate over 108,600, GWh of electrical energy per annum. All gas emissions comply with the Euro 2000 Standard.
Following the approval of the municipal government, the company explained that its 1400 tonne per day Jiangyin waste to energy project Phase I & II has also increased its fee by 6.4%. The project was said to generate over 157,695 GWh per annum.
The company’s Yixing waste to energy project Phase I has been approved for a larger fee increase of 17.7%. It is the second fee adjustment to come into effect since the project commenced operation in 2007.
China Everbright said that the 600 tonne per day Yixing Project uses grate furnace developed by the company itself and generates over 64,404 GWh per annum.
The company added that all three projects meet Euro 2000 emissions standards.
“The three projects were once again approved to increase their waste processing fees last year end and early this year,” commentedChen Xiaoping, CEO of Everbright International. “This laid a solid foundation for the long-term steady development of the Group’s projects.”
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