Everbright International secures Guangdong Lechang Waste-to-energy Project and Zhejiang Fuyang Waste-to-energy Project

Hong Kong, 2 September 2019 – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) is pleased to announce that the Group has recently secured Lechang Waste-to-energy Project ("Lechang Project") Phase I in Guangdong Province and Fuyang Waste-to-energy Project ("Fuyang Project") Phase I in Zhejiang Province, with a total investment of approximately RMB1.725 billion.

Lechang Project is located in the circular economy environmental protection park of Lechang City in Shaoguan City of Guangdong Province. It will be invested in and constructed based on the PPP (Public-private Partnership) model for a concession period of 30 years (construction period inclusive). With a designed daily waste processing capacity of 1,000 tonnes, the project will be constructed in two phases. Lechang Project Phase I commands an investment of approximately RMB349 million, and has a designed daily waste processing capacity of 500 tonnes. To be equipped with a 500 tonnes/day grate furnace and a 12MW turbine power generator, it is expected to generate green electricity of approximately 72 million kWh annually. The gas emissions will fully comply with relevant national standards, with the daily average level of online monitored gas emissions superior to the Euro 2010 standard.

Fuyang Project is located in the circular economy industrial park of Fuyang District in Hangzhou City, Zhejiang Province. The project will be invested in and constructed based on the PPP model by a project company, in which Everbright International holds a 49% stake. With a concession period of 30 years (construction period inclusive), the project is designed with a daily waste processing capacity of 2,250 tonnes and will be constructed in two phases. Fuyang Project Phase I commands an investment of approximately RMB1.376 billion, and has a designed daily waste processing capacity of 1,500 tonnes. To be equipped with two 750 tonnes/day grate furnaces and a 40MW turbine power generator, Fuyang Project Phase I is expected to generate green electricity of approximately 180 million kWh annually. The gas emissions will fully comply with relevant national standards, with the daily average level of online monitored gas emissions superior to the Euro 2010 standard.

Lechang City, a county-level city under Shaoguan City of Guangdong Province, is a gateway through which the Pearl River Delta region reaches out to China's inland cities and these cities can also access Guangdong Province. In the meantime, the Fuyang District, a district under the administration of Hangzhou City, is the first stop along Hangzhou's Traffic Network Westward Extension route and Western Tourist Resource Development route. On the back of rapid urban development and economic growth, the local living standards have improved accordingly, resulting in increasing urban household waste. The launch of the two projects will fundamentally improve the urban environment by achieving the reduction, harmless treatment and reuse of the local household waste.

Mr. Wang Tianyi, CEO of Everbright International, said, "As the topics relating to green and low-carbon development and circular economy have become increasingly popular, seeking sustainable development with minimum resource consumption and environmental costs has become a development model that governments, businesses and the general public all focus on and yearn for. Everbright International is committed to running every one of its projects in line with industry-leading standards and managing each of its projects in strict compliance with relevant laws and regulations. Adhering to its operation philosophy of ‘Pursuing Excellence and Close to Zero Discharge', the Group strives to develop benchmark projects for the industry. It also supports circular economy industrial parks where its projects are located to better achieve low-carbon and sustainable development, by effectively responding to the local demands for waste treatment, with an aim of facilitating the local areas to win the tough battle against pollution."