Everbright Greentech Secured Two Integrated Biomass Utilisation Projects

22 March 2018, Hong Kong – China Everbright Greentech Limited ("Everbright Greentech" or the "Company") (HKSE: 01257) is pleased to announce that the Company has secured Hubei Shayang Integrated Biomass and Waste-to-energy Project ("Shayang Integrated Project") (Waste-to-energy) and Hebei Tangshan Biomass Electricity and Heat Cogeneration Project ("Tangshan Project") recently, which command a total investment of approximately RMB579 million.

Shayang Integrated Project (Waste-to-energy) commands an investment of approximately RMB239 million, with a designed daily household waste processing capacity of 400 tonnes. It will be invested in and built on a BOO (Build-Operate-Own) model for a concession period of 30 years. The project will be integrated with the existing Shayang Biomass Direct Combustion Power Generation Project to form an urban-rural integration project.

Tangshan Project will be constructed in two phases. The project phase I will command an investment of approximately RMB340 million, with a designed annual biomass processing capacity of approximately 280,000 tonnes. It is expected to generate approximately 200,000,000 kWh of green electricity per annum and 60 tonnes of high-quality steam per hour. The project phase I will be invested in and built on a BOO (Build-Operate-Own) model with a concession period of no less than 30 years.

Everbright Greentech recently has recorded a number of significant achievements in market expansion. Following a project secured in Zhejiang Province, the Company has made another breakthrough by developing its first footprint in Hebei Province, which is very inspiring. In 2018, 'Replacing Coal with Biomass' has become an important strategy in China's Clean Heating Campaign. Furthermore, the Work Report issued by the Chinese government initiates 'consolidating the gains made in the fight to defend the blue sky' and 'making strong moves in the rural revitalisation strategy'. This has provided valuable opportunities for the long-term development of the Company's integrated biomass utilisation business. Everbright Greentech will continue to seek development in response to macro and market trends and spare no effort in supporting China's targeted poverty alleviation initiative. With a great sense of responsibility, the Company is also committed to making contributions to the sustainable development of the local communities where its projects are located.