CEI hopes to realize waste-to-energy project abroad
March 31, 2011 Category Alternative energy, Environment
China Everbright International (CEI), China’s largest waste-to-energy power plant developer, aims to clinch at least one overseas project this year, said Chief Executive Chen Xiaoping. CEI has been transformed over the past eight years from an almost-bankrupt toll road and bridge operator into an environmental concern. It obtained a USD200 million credit line from the Asian Development Bank (ADB) in 2009 which it can draw down to borrow low interest funds for 10 years for waste-to-electricity projects. Chen said one condition of the loan was that CEI must share its knowledge with other Asian countries, which could take the form of equipment and technology transfer, or project investment. Projects should earn an expected 10% minimum return on investment. “Hong Kong has pushed back its waste treatment plant by eight years and we should have some discussions on the issue with the Hong Kong government,” Chen said. The Hong Kong government last month proposed building a controversial incinerator on a remote outlying island, which would be ready for use in 2018, the year when all the landfills are expected to be filled. CEI has four operating waste-to-power projects in China, with a combined garbage processing capacity of 4,550 tons involving CNY2.2 billion of investment. It also has projects under construction or preparation with a combined daily capacity of 6,000 tons and an investment of CNY2.9 billion. The company posted a 66% jump in net profit to HKD616.4 million for last year from 2009, on revenues that grew 66% to HKD2.93 billion. According to an HSBC Securities research report, the main risks for investors in the company are potential delays in project execution and funding requirements, the South China Morning Post reports.
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