China Everbright International increases electricity production from waste-to-energy projects
Renewable energy firm China Everbright International has boosted the amount of electricity produced from its energy projects for the six months ended 30 June, 2016.
The firm made the announcement in its interim results published on 15 August, 2016.
During the period under review, the Group's environmental energy projects processed a total of 4,196,000 tonnes household waste and generated a total on-grid electricity of 1,175,098,000kWh, an increase of 29% and 33% respectively compared with the same period last year.
Environmental energy projects contributed an earnings before interest, taxes, depreciation, and amortisation (EBITDA) of HK$1,345,807,000,(€155m) an increase of 12% as compared with the same period last year.
Environmental energy projects contributed segment net profit of HK$867,730,000, an increase of 18% as compared with the same period last year. The increase in profit was mainly due to the recognition of construction service revenue and costs saved on construction projects, as well as an increase in the operation service revenue due to continued growth in operating projects' processing volumes during the period under review.
In the first half of 2016, the group secured seven household waste-to-energy projects, with an increased designed daily household waste processing capacity of 7,800 tonnes, boosting the total daily waste processing capacity to 45,700 tonnes.
The group also made progress with its projects both under construction and in the preparatory stage. During the period under review, Hainan Sanya waste-to-energy project Phase II and the Hunan Yiyang waste-to-energy project were completed and commenced operations.
Yiyang Project is the group's first environmental project in Hunan Province while Sanya Project Phase II was able to commence operation 104 days ahead of schedule while at the same time ensuring construction safety on the premises and maintaining the ongoing operation of Sanya Project Phase I, making itself another role model in terms of construction duration.
The group had one food waste treatment project and 12 waste-to-energy projects under construction with a total designed daily waste processing capacity of 100 tonnes and 12,600 tonnes respectively, including Shandong Xintai waste-to-energy project which just commenced construction during the period under review.
In July 2016, the group also secured Shandong Fei County waste-to-energy project and Shandong Weifang waste-to-energy project phase II, with a total investment amounting to RMB515 million and an increased daily household waste processing capacity of about 1,100 tonnes.
This story was written by Liz Gyekye, editor of Bioenergy Insight.