China Everbright International Limited has announced that it has recently secured three greentech projects, including the Henan Sheqi Integrated Biomass and Waste-to-Energy Projects and the Jiangsu Lianshui Biomass Electricity and Heat Cogeneration Project, with a total investment of CNY857 million (US$124 million).
The Group signed an investment agreement on a biomass power generation project and a concession agreement on a household waste-to-energy project with the People's Government of Sheqi County in Henan Province. The Group will invest and construct the Henan Sheqi Integrated Biomass and Waste-to-Energy Projects on a BOT (Build-Operate-Transfer) model for a concession period of 30 years.
Henan Sheqi Integrated Biomass Project, with an investment amount of approximately CNY306 million (US$44 million), is designed to have a biomass material processing capacity of 300,000 tonnes per annum and is expected to generate 230,000,000 kWh of green electricity annually.
Henan Sheqi Waste-to-Energy Project, with an investment amount of approximately CNY233 million (US$33 million), has a designed daily household waste processing capacity of 400 tonnes. Gas emissions will fully comply with the Euro 2010 Standard and has a power generation designed capacity of 9MW. Sheqi County is located in the eastern side of the Nanyang Basin in Henan Province. Its local diversified agricultural resources, including high-quality food grain, vegetables and livestock, have helped to promote the rapid development of rural economy in its unique form, making it an excellent national base in China from which to produce and trade commodity grain.
In addition, the Group has signed an investment agreement with the People's Government of Lianshui County in Jiangsu Province to invest and construct the Lianshui Biomass Electricity and Heat Cogeneration Project on a BOO (Build-Operate-Own) model for a concession period of not less than 30 years, which will command total investment of approximately CNY318 million (US$46 million). The project will make use of the agricultural straw and waste in the county and the surrounding areas to generate power. The project has a designed biomass material processing capacity of 300,000 tonnes per annum, with a power generation capacity of 30MW, while producing central heating for various companies in Lianshui's industrial zone. Located in the north of Jiangsu Province and in the downstream areas of the Huai River, the county is blessed with high-quality forestry resources and is a demonstration county for eco-agriculture at the provincial level.
Mr. Chen Xiaoping, CEO of Everbright International, said:
"The development of biomass, a clean and low-carbon renewable energy source, has been increasingly intensified. Accelerating the development and adoption of biomass resources is an important part of China's quest to improve environmental quality and to develop a circular economy. Many local governments have attached a greater importance to tackling urban and rural environmental issues as the continuous creation of environmental, economic and social benefits becomes an important issue across China. We will take advantage of this rising trend and thrive in this promising industry through fostering synergy and aggregation effect among our projects, improving technological management and the efficiency of our operations, as well as devising a sensible biomass energy development strategy for the Group's greentech business."