China Everbright Int : Everbright International Has Obtained Support from Asian Development Bank and Six Other Banks
01/12/2012 | 01:38am
To Develop its Waste-to-energy Projects
China Everbright International Limited ("Everbright
International" or "the Group"), is pleased to announce that
on 11 January 2012, the Group has reached an agreement with
the Asian Development Bank ("ADB") and six other banks.
Pursuant to which, a US$100 million B loan ("the Loan") will
be provided to the Group to support its continuous
development of the waste-to-energy plants and ADB is the
lender of record.
The loan is only part of ADB's financing package to the
projects. In 2009, ADB had already provided the Group a
US$100 million A loan (the "A Loan") and a technical
assistance of US$600,000 from the Clean Energy Fund under ADB
Clean Energy Financing Partnership Facility. The A Loan had
already been utilized for the Jinan, Jiangyin Phase II and
Zhenjiang Waste-to-energy Projects.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright
International, said, "Everbright International is grateful
for the strong support from ADB and the six other banks. This
capital infusion can strengthen the Group especially in view
of the current uncertain global economic environment. This
support also clearly demonstrates that the achievements of
Everbright International in the waste-to-energy sector in
recent years have gained wide recognition across all sectors
of society. With abundant capital on hand, we are better
positioned to capture the opportunities in relation to the
encouragement of utilization of incineration to energy and
heat supply resources arising from the "Notice of the Twelfth
Five-Year Plan of the State Environmental Protection" issued
on 15 December 2011 to further develop business in the
waste-to-energy sector. We endeavor to construct, operate and
manage all our projects using clean technologies to reduce
solid wastes and transform these wastes into energy in China
with an aim to create a livable environment."
