Everbright International Signs Supplementary Agreement on the Upgrading Project of Suzhou Waste-to-energy Plant

6 July 2018, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that the Group has reached the supplementary agreement VII to the waste treatment services concession right with the People's Government of Suzhou Municipality, Jiangsu Province. Pursuant to the supplementary agreement VII, an additional RMB970 million will be added for the investment, construction, operation and management of the Dismantling, Redevelopment and Upgrading Project ("Suzhou Upgrading Project") of Suzhou Waste-to-energy Project ("Suzhou Project"), based on the supplementary agreement VI, which was signed in 2016. As a result, Suzhou Upgrading Project commands a total of RMB3.32 billion, with its total waste processing capacity being increased to 6,850 tonnes/day, up by 1,600 tonnes/day from 5,250 tonnes/day.

Suzhou Upgrading Project will be invested in and constructed on a BOT (Build-Operate-Transfer) model for a concession period of 26 years. The project will first be equipped with six sets of new 750 tonnes/day waste incineration lines. Then, the 1,500 tonnes/day waste incineration line of Suzhou Project Phase III will be upgraded. Finally, Suzhou Project Phase I and II will be dissembled, and a new 850 tonnes/day waste incineration line will be installed at the original site. Upon completion of all upgrading work, Suzhou Project will have a total waste processing capacity of 6,850 tonnes/day and is expected to generate green electricity of 871 million kWh annually, with gas emissions fully complying with Euro 2010 Standard.

Suzhou Project is a waste-to-energy benchmark project in China and one of the first national AAA-rated waste-to-energy plants recognised by the Ministry of Housing and Urban-Rural Development of the People's Republic of China. The upgrading work of Suzhou Project will follow China's leading and world-class standards for the project design and construction. It will also adopt medium temperature ultra-high pressure parameter boilers and intermediate reheat cycle technology with a header system, which will significantly improve its energy utilisation efficiency. In the meantime, it will adopt a more advanced gas treatment process.

Mr. Wang Tianyi, CEO of Everbright International, said, "Suzhou Project was Everbright International's first waste-to-energy project following the Group's move into the environmental protection industry. It is also a benchmark project at Everbright International and in China's waste-to-energy industry. Supported by the continuing advancement of waste-to-energy technologies, Suzhou Project will continue to lead and improve the industry development upon completion of the upgrading works. Adhering to its operational philosophy of ‘Pursuing Excellence and Close to Zero Discharge', Everbright International will strive to develop Suzhou Project into a new icon. Furthermore, the Group will take the project as a chance to deepen its cooperation with the local government, for further expansion into fields like waste classification and environmental sanitation integration, so as to achieve concurrent development of social, environmental and economic benefits.