Everbright Greentech Receives Approval for Subsidies of RMB37.63 million by NDRC
 
Jun 09, 2018
Category:

8 June 2018, Hong Kong – China Everbright Greentech Limited (“Everbright Greentech” or the “Company”) (HKSE: 1257) is pleased to announce that the Company’s Anhui Huaiyuan Integrated
Biomass and Waste-to-Energy Project (“Huaiyuan Integrated Project”) (Waste-to-Energy) and Fengyang Integrated Biomass and Waste-to-Energy Project (“Fengyang Integrated Project”) (Wasteto-Energy) received approval for subsidies of RMB37.63 million in total, which was granted by the National Development and Reform Commission of the People's Republic of China (NDRC) under the
scheme of Central Budgetary Investment Plan for the Construction of Ecological Civilization (the “Plan”).

Huaiyuan Integrated Project (Waste-to-Energy) commands an investment of approximately RMB410 million. Of this, the investment in facilities for the cleaning, collection and transportation of household waste amounts to approximately RMB199 million, while the waste-to-energy plant amounts to approximately RMB211 million. The project is designed with a daily household waste processing capacity of 400 tonnes. The project has received approval for a subsidy of RMB18.01 million from the Plan. Upon completion of the construction, the project will share the same management team, office systems and other existing facilities with Huaiyuan Integrated Project (Biomass) to bring down construction and operation costs.

Fengyang Integrated Project (Waste-to-Energy) commands an investment of approximately RMB230 million, with a designed daily household waste processing capacity of 400 tonnes. It has received the approval for a subsidy of RMB19.62 million from the Plan, and this project was awarded the “Expedited Major Project Development Award” in Fengyang County.

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About China Everbright Greentech Limited
China Everbright Greentech Limited is a specialty environmental protection service provider in China, focusing on biomass integrated utilisation, hazardous waste treatment, solar energy and wind power. The Company was listed on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) on 8 May 2017. As of 31 December, 2016, the Company’s aggregate biomass power generation designed capacity ranked the fourth in China, and aggregate hazardous waste disposal designed capacity ranked the third in China and the first in Eastern China. Everbright Greentech adheres to development driven by business innovation and initiated the urban-rural integration project in the country. Its businesses span across 11 provinces and municipalities in China, and in Germany. Leveraging its unique and diversified business models, strategic layout, robust supply networks, a strong pipeline of projects, and high level of technologies and management capabilities, Everbright Greentech is well positioned in China’s environmental protection service industry.

The Company's controlling shareholder, China Everbright International Limited (“Everbright International”, a listed company on the Mainboard of the Hong Kong Stock Exchange, stock code: 257) is a leader in China's environmental protection industry, whereas China Everbright Group Ltd., the parent company of Everbright International, is a conglomerate among the Fortune Global 500.

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