Everbright secures biomass electricity and heat cogeneration project

China Everbright Greentech Limited has announced that it has secured Wendeng Biomass Electricity and Heat Cogeneration Project.

According to the investment agreement signed by the company and the People's Government of Wendeng District in Weihai City of Shandong Province, Wendeng Project will be invested in and constructed on a BOO (Build-Operate-Own) model, and will command a total investment of approximately CNY330 million (US$48.6 million).

The project is designed to have an annual biomass processing capacity of 300,000 tonnes, and is expected to generate around 180,000,000 kWh of green electricity annually. 

Mr. Qian Xiaodong, CEO of Everbright Greentech, said:

"Everbright Greentech has secured several new projects recently, which demonstrates our strong business development and efficient execution capabilities. Wendeng Project is the Company's first biomass project in Shandong Province. Shandong is a major agricultural province in China, with agricultural lands accounting for more than 70% of the total land area of the province. In addition, as a key production area in China for food crops and cash crops, it has an abundance of agricultural resources, such as wheat, corn, sweet potatoes and peanuts. 

We will leverage this project to strengthen our foothold in the biomass integrated utilisation market in the Jiaodong Peninsula."