Everbright International Secures Jiangsu Wujiang Waste-to-energy Plant Expansion Project

21 March 2019, Hong Kong – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) is pleased to announce that it signed a supplementary agreement today for the BOO (Build-Operate-Own) concession agreement for Wujiang household waste incineration project with Wujiang District Urban Management Bureau of Suzhou City, Jiangsu Province. Pursuant to the supplementary agreement, the Group secured Jiangsu Wujiang Waste-to-energy Plant ("Wujiang Project") Expansion Project ("Wujiang Expansion Project"), which commands an investment of approximately RMB1.7 billion.

Wujiang Expansion Project has a designed daily waste processing capacity of 3,000 tonnes for a concession period of 30 years (construction period inclusive). It will be equipped with three self-developed 1,000 tonnes/day mechanical grate furnaces. The project is expected to generate green electricity exceeding 400 million kWh, with gas emissions fully compliant with relevant national standards and the daily average level of online monitored gas emissions superior to the Euro 2010 standard.

Wujiang Project completed construction and commenced operation in 2016. With a designed daily household waste processing capacity of 1,500 tonnes and an investment of approximately RMB890 million, the project is a major livelihood project in the Wujiang District. It is equipped with the large-scale 750 tonnes/day grate furnaces, which marked the first fully homemade equipment of this type. The grate furnace has a number of advantages, such as highly-automated system, high controllability by unit, strong adaptability to different types of waste, high incineration efficiency, high heat energy utilisation efficiency, among others.

Since the commencement of operation, Wujiang Project has processed over 1.5 million tonnes of household waste in total, which generated green electricity of over 650 million kWh, with all environmental indicators compliant with relevant emission standards. The project has facilitated the Wujiang District to transform its waste treatment approach from waste landfill to the harmless treatment, reuse and reduction of household waste.

Mr. Wang Tianyi, CEO of Everbright International, said, "Wujiang Project has been operating in a safe, environmental-friendly and stable manner, since its commencement of operation in 2016. The project has been well recognised by various circles of society for its construction quality and operational proficiency, becoming a benchmark of the Group with demonstration significance. Thanks to the trust and support of the local government in Everbright International, the Group is committed to making greater contribution towards the ecological conservation and environmental protection for the Wujiang District through the development of Wujiang Expansion Project. The Group will continue adhering to its management philosophy of 'Pursuing Excellence and Close to Zero Discharge', and ensure the project is constructed and operated with high quality, with an aim of facilitating the development of a 'Green' and 'Ecologically-friendly' Wujiang."

Mr. Wang also emphasised, "As an explorer in the ecological and environmental protection industry, Everbright International has been actively fulfilling its social responsibilities and adheres to its corporate pursuit of 'Creating Better Investment Value and Undertaking More Social Responsibility'. The Group is currently developing a new business model that transforms from the investment of single projects to the development of veinous industrial parks, and then towards the development of waste-free cities. The newly-established eco-recycling business sector of the Group will strive to enhance its market penetration in areas of waste sorting, environmental sanitation integration and resources utilisation, while following the principle of 'making efficient use of sorted waste'. The Group will contribute its intelligence and strength to the harmless treatment, reduction and reuse of waste."