Everbright International improves alternative energy business

China Everbright Alternative Energy Investment has already garnered 14 projects.

China Everbright International Limited (Everbright International) has launched a new subsidiary, China
Everbright Alternative Energy Investment Limited (Alternative Energy Company) in Beijing, approaching the alternative energy business across a wider front. Alternative Energy Company is responsible for the coordination, management and development of alternative energy projects of the Group, according to an Evergreen report.

To cope with the sustainable development of focused businesses of the Group, the Group has placed energy conservation and alternative energy as its key investment and development focuses in 2009. Currently, the Group has already secured 14 alternative energy projects with a total investment of approximately RMB1.281 billion (HK$1.47 billion) and a total designed annual power generation capacity of approximately 560,000,000 kWh. Ten of these are independent projects, including the Suzhou Methane-to-Energy Project Phase I & II, the Zibo Waste Water Source Heat Pump Project, the Dangshan Biomass Power Generation Project, the Huaining Photovoltaic Energy Project, the Shenzhen Rooftop Photovoltaic Energy Project, the Xinyi Straw Cogeneration Project, the Lixin Biomass Power Generation Project, the Suzhou Leachate Methane-to-Energy Project and the Zhenjiang Photovoltaic Energy Project. Of these, the construction of the Huaining Photovoltaic Energy Project, the Shenzhen Rooftop Photovoltaic Energy Project, the Zhenjiang Photovoltaic Energy Project and the Zibo Waste Water Source Heat Pump Project are to be completed for commercial operation this year.

The Huaining Photovoltaic Energy Project in Anhui Province and the Shenzhen Rooftop Photovoltaic Energy Project are among the first Golden Sun pilot projects in the PRC. The former is the Group’s first photovoltaic energy project operating in BOO (Build-Operate-Own) mode. The construction of the project will be implemented in three phases. Phase I is a 2MWp photovoltaic power station project, commanding a total investment of approximately RMB50,470,000 (HK$57.87 million). The project will be equipped with four 500 kWp photovoltaic power generation systems. The expected operation period of the project is 26 years and is expected to commence commercial operation by the end of this year.

The rooftop photovoltaic energy generation project in Shenzhen is the solar photovoltaic energy project co-developed by Everbright International and DuPont Apollo (Shenzhen) Limited at a total investment of approximately RMB27,920,000 (HK$32.02 million). Everbright International will build a photovoltaic energy generation station on the rooftop of the DuPont plant, in the DuPont Photovoltaic Energy Technology Industrial Park in Dongpian District, Guangming New District, Shenzhen. With a term of operation of 25 years, the energy station will have a capacity of approximately 1.3 MWp and is expected to be completed and ready for operation in October this year.

The Zhenjiang Photovoltaic Energy Project is the Group’s first photovoltaic energy project in Jiangsu Province. The Group has funded the project to study the feasibility of the combination of photovoltaic energy and ecological agriculture. With a total investment of approximately RMB107,300,000 (HK$123.04 million), the project will have a capacity of 5.2 MWp and a term of operation of 25 years. It is expected to be completed and commence operation by the end of this year.

Phase I of the Zibo Waste Water Source Heat Pump Project in Shandong Province commands a total investment of approximately RMB57,870,000 (HK$66.36 million) and spans 125,000 sq. m. Adopting the waste water source heat pump technology, the project provides heating and cooling services to the Zibo High-tech Zone. It is the Group’s first waste water source heat pump project and the Group’s first project operating under the energy management contract (EMC) mode. Construction of the project has started in March 2010 and it is expected to commence service by the end of this year.

Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, ”Everbright International is committed to leadership in developing the environmental projects in the PRC, we have promoted the development of a recycling economy and an energy-saving and environmental industry while creating the brand of ‘Everbright Environment’ and establishing an ‘Invest-Build-Operate’ integrated investment model.”

“Building on our conventional waste-to-energy and waste water treatment projects, during the past one and a half years, Everbright International has also rolled out various alternative energy projects as we aggressively target that sector. We are also expanding beyond Shandong Province and Jiangsu Province into other strategic locations such as Guangdong Province, Anhui Province and Beijing. In the future, the Group will strive to develop a variety of alternative energy and other environmental sectors in different regions aiming to achieve progress towards energy conservation and emission reduction in the PRC.” Mr. Chen concluded.