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HONG KONG, Sept 28, 2011 - (ACN Newswire) - China Everbright International Limited ("Everbright International" or "the Group") is pleased to announce that its Dangshan Biomass Power Generation Project ("Dangshan Project" or "the Project") has commenced operation, creating a new profit growth point. The Project, which is located in Dangshan County, Anhui Province, is the first biomass power generation project of the Group commanding an investment of RMB312,000,000.
The Dangshan Project mainly uses biomass including straw, waste from fruit trees and board processing waste materials to generate power. Construction started in July 2010 and operation has commenced in September 2011. It is expected that upon the commencement of operation, the Project would be able to process approximately 300,000 tonnes of biomass a year and generate green electricity of about 200,000,000 kWh, effectively meeting the rapidly rising demand for electricity from local industrial and agricultural sectors. The ash residue produced by the Dangshan Project can be used as raw material for producing silica or chemical fertilisers which are in short supply, forming a cyclical economic industry chain comprising biomass power and chemicals. After the commencement of operation, income of local farmers is expected to increase by approximately RMB70,000,000 to RMB80,000,000 a year, benefitting more than 1,000,000 farmers in Dangshan County and surrounding areas.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "The Dangshan Project is one of the Group's major projects of the year, its successful operation owes much to the great support from the Dangshan County government. The Dangshan Project not only follows the principle of "building an energy conservation and environmental friendly society" promoted by the Central Government, but also is aligned with the industrial policies of sustainable development and building a low-carbon economy. Thus, it is a prototypical green energy project conducive to improving energy system, facilitating the recycling of resources as well as increasing the income of local farmers and offering more career opportunities to them. It performs well measured against the standards of protecting our economy and society, as well as the environment and eco-systems".
While investing in the Dangshan Project, Everbright International has also supported the local education sector by donating RMB6,000,000 to build Dangshan True Love School, in Dangshan County which has opened in September 2011. Construction of the school primarily included the building of a new office complex, a rubberised running track, a basketball court, a football pitch, a green school environment and renovation of the existing school building etc. Upon completion of the construction, True Love School will become a garden-like school well-equipped with a wide range of modern educational equipment. The school has not only secured the strong backing of the Dangshan County Government and County Bureau of Education, but has also gained support from local residents as it addresses issues such as a long walking commute for the children from surrounding villages and a poor environment surrounding the school.
Mr. Chen added, "Everbright International will continue to adhere to its business principles of a low carbon footprint, environmental protection and recycling resources. We will strive our best to operate and manage the Dangshan Project aiming at developing it into a model project for sustainable development and integrated recycling of biomass power in China. We believe that social and economic benefits can coexist within an enterprise. Looking ahead, Everbright International will further expand business to other environmental protection projects based on local available resources in order to drive local economic growth and create more employment opportunities. We will also take the initiative to integrate within the overall industrial sector of Dangshan and complement the Government's strategic planning in making a greater contribution to economic growth and environment protection in Dangshan".
Contact:
China Everbright International Limited
Liu Ping
Tel: 86-10-6249-8668
Fax: 86-10-6249-8688
Email: liup@ebchinaintl.com.cn
Topic: Press release summary
Source: China Everbright International Ltd
Sectors: Daily Finance, Energy, Alternatives, Daily News
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