China Everbright International Limited has signed a supplementary agreement in addition to its household waste-to-energy project concession agreement with the Weifang Municipal Bureau of City Administration and Law Enforcement in Shandong Province to invest in and construct the Weifang Waste-to-energy Project Phase II.
Weifang Project Phase II will be constructed on a BOT (Build-Operate-Transfer) basis and will be transferred to the government at the same time as Weifang Project Phase I.
The total amount to be invested into Project Phase II will be approximately CNY165 million (US$24.7 million) and this phase will have a daily household waste processing capacity of 500 tonnes. It is expected to generate approximately 46,000,000 kWh of green electricity annually, and its gas emissions will fully comply with the Euro 2010 Standard. After Project Phase II is constructed, the total daily waste processing capacity of the Weifang Project will reach 1,500 tonnes.
Mr. Chen Xiaoping, CEO of Everbright International, said:
"Weifang's economy is booming and local people's living standards have improved dramatically, but this has led to increased demand for waste treatment and environmental protection. The Weifang Project Phase I has effectively improved the urban environment of the city since it commenced operation in December 2015. With the launch of Project Phase II, we will further promote the harmless treatment, reduction and reuse of local household waste in order to help simultaneously develop the city and improve the overall environment, which will lay a solid foundation for the future economic development of Weifang."
Last week, we reported that China Everbright International Limited 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.