Everbright International Secures Ningbo Waste-to-energy Project

First Project in Zhejiang Province
Strives to Expand its Environmental Protection Market in Zhejiang

First Project in Zhejiang Province Strives to Expand its Environmental Protection Market in Zhejiang

The Ningbo Project is the Group's 4th project that newly secured this year. It is also the 16th waste-to-energy project of the Group. The Ningbo Project to be developed in phases has a daily designed waste processing capacity of 1,500 tonnes. Phase I of the Project, with a daily designed waste processing capacity of 1,000 tonnes, commands a total investment of RMB560 million. The Project will be equipped with two self-developed grate furnaces, each with a processing capacity of 500 tonnes, and a 20MW generator. It is expected to process waste of 460,000 tonnes and generate on-grid electricity of 112,323,000 kWh annually. The concession period of the Project is 30 years.

The Ningbo Project is the Group's 4th project that newly secured this year. It is also the 16th waste-to-energy project of the Group. The Ningbo Project to be developed in phases has a daily designed waste processing capacity of 1,500 tonnes. Phase I of the Project, with a daily designed waste processing capacity of 1,000 tonnes, commands a total investment of RMB560 million. The Project will be equipped with two self-developed grate furnaces, each with a processing capacity of 500 tonnes, and a 20MW generator. It is expected to process waste of 460,000 tonnes and generate on-grid electricity of 112,323,000 kWh annually. The concession period of the Project is 30 years.

Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "We are very delighted to secure the Ningbo Project. The large scale of the Project will provide good economic and social benefits. Currently, there is a huge demand in the environmental protection market in China, but the competition in the market is also very keen. The Group has won this Project by leveraging its proven track record in the waste-to-energy industry, which not only demonstrates the strong capability of Everbright International, but also expands our influence and promotes our brand within the industry."

Mr. Chen added, "The Project is our fourth waste-to-energy project since the beginning of 2012 and it is also our first waste-to-energy project in Zhejiang Province. The Project has great significance for the Group in strengthening its investment position in the dynamic Yangtze River Delta region and in supporting the Company's strategy to take advantage of opportunities presented by the Twelfth Five-Year Plan. As Ningbo is the newest market for Everbright International, in the future the Group intends to leverage the Ningbo Project to penetrate the environmental protection market in Zhejiang Province, further extend its business presence into the surrounding provinces and cities and strive to achieve outstanding results comparable to Jiangsu Province by taking reference with the good model of the waste-to-energy projects in Jiangsu Province. The Group has established a solid presence through its stable performance, leading brand, strong reputation, and a professional management team good at business expansion and operation management. Thus the Group has bright prospects for business development as Chinese economy continues its steady growth."