Everbright International Secures Three Waste-to-energy Projects

12 April 2018, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that it has recently secured three waste-to-energy projects, including: Jiaxiang Waste-to-energy Project ("Jiaxiang Project") in Shandong Province, Danyang Waste-to-energy Project ("Danyang Project") and Yancheng Waste-to-energy Project ("Yancheng Project") in Jiangsu Province. The three projects command a total investment of approximately RMB1.778 billion.

Jiaxiang Project will be invested and constructed in two phases on a PPP (Public-Private Partnership) model for a concession period of 30 years. The project is designed to have a daily household waste processing capacity of 1,500 tonnes. In particular, phase I of the project, with an investment of approximately RMB564 million, is designed to have a daily household waste processing capacity of 1,000 tonnes, and is expected to generate green electricity of approximately 117 million kWh annually. Its gas emissions will fully comply with the Euro 2010 Standard.

Danyang Project will be invested and constructed in two phases on a BOT (Build-Operate-Transfer) model with a concession period of 30 years. The project is designed to have a daily household waste processing capacity of 1,500 tonnes. With an investment of approximately RMB550 million, phase I of the project is designed to have a daily household waste processing capacity of 1,000 tonnes, which is expected to generate green electricity of approximately 115 million kWh annually. Its gas emissions will fully comply with the Euro 2010 Standard.

Yancheng Project will be invested in and constructed on a PPP model by a project company jointly established by Everbright International and Jiangsu Daji Holding Group (江苏大吉控股集团), with Everbright International holding an approximately 14.29% stake in the project company. The project will fully incorporate the Group's major self-developed equipment, including grate furnaces, waste heat boilers and gas purification systems. With a total investment of approximately RMB664 million, the project is designed to have a daily household waste processing capacity of 1,400 tonnes, which is expected to generate green electricity of approximately 149 million kWh. Its gas emissions will fully comply with the Euro 2010 Standard.

Mr. Wang Tianyi, CEO of Everbright International, said, "So far, Everbright International has a total of 32 operating waste-to-energy projects in Shandong and Jiangsu provinces, which have a total designed daily household waste processing capacity of 27,750 tonnes, and another 12 projects under construction or in preparatory stage, which have an aggregate designed daily waste processing capacity of 12,200 tonnes. The three waste-to-energy projects secured this time will help the Group effectively reduce management and operating costs by further creating synergy with existing projects and taking advantage of centralised management. After completing construction and commencing operation, these projects will effectively meet the increasing demand for, and boost the overall efficiency and mitigate the burden of, waste treatment in the local areas where the projects are located."

Mr. Wang Tianyi added, "These waste-to-energy projects will further bolster Everbright International's leading position in Shandong and Jiangsu provinces. They are also a reflection of the recognition of and support for the Group's business strength and its corporate brand from the governments and the general public in the respective local areas. In the future, Everbright International will fully leverage its excellent technique and technology, high-quality construction expertise and extensive experience in operation and management, to develop more benchmark projects."