China Everbright International Limited has signed a concession agreement for a household waste-to-energy project with the People's Government of Fei County, Shandong Province. The group will invest in the construction of the Fei County Household Waste-to-energy PPP project in Shandong Province.
Fei County project will be constructed on a BOT (Build-Operate-Transfer) basis for a concession period of 30 years. It has a designed daily household waste processing capacity of 900 tonnesand will be constructed in two phases. Phase I has a daily household waste processing capacity of 600 tonnes, with a total investment of approximately CNY350 million (US$52 million). The Project Phase I is expected to generate approximately 70GWh of electricity annually.
Mr. Chen Xiaoping, CEO of Everbright International, said:
"By virtue of its mature technology and state-of-the-art management, Everbright International has been a pacesetter in the development of the environmental energy, environmental water and greentech businesses as well as leading the way on information disclosure within the industry. Since early July, Everbright International has secured four environmental protection projects in Shandong Province, including two waste-to-energy projects, a waste water treatment project and a hazardous waste treatment project.
Encouraged by the local governments' endorsement of the Group's overall strength, Everbright International is committed to building high quality environmental protection projects that have local needs in mind while showcasing the Group's commitment to the principle of ‘First Class Quality, High Standard, Advanced Technology and Outstanding Efficiency' and ensuring strict compliance with relevant emission standards."
The completion of the Fei County Project will help to improve the local environment and will ensure a sustainable pace of economic development by effectively processing household waste to render it harmless, as well as reducing and reusing it.