On May 7, 2018, Green Power issued an announcement on the Hong Kong Stock Exchange. The company was identified as the winning bidder for the domestic waste incineration power generation BOT project in Dengfeng City, Henan Province. On July 3, 2018, the Department of Housing and Urban-Rural Development of Dengfeng City officially signed the “Concession Contract for Denghua City Domestic Waste Incineration Power Generation BOT Project”, and Dengfeng City Housing and Urban-Rural Development Bureau awarded Green Power in Dengfeng City. The right to invest, design, construct, and operate domestic garbage treatment facilities within the jurisdiction, and treat domestic garbage by means of incineration and power generation.
The total investment of the project is approximately RMB 550 million, and the investment for the first phase is approximately RMB 375 million. The total daily domestic waste is 1050 tons/day, of which 700 tons/day in the first phase and 350 tons/day in the second phase. The main incineration process is mechanical grate furnace technology.
The company adopts the “Build-Operate-Transfer (BOT)” model to construct and operate the Dengfeng municipal solid waste incineration power generation project. The franchise period of the project is 30 years, starting from the effective date of the contract, 2 years of construction period, 28 years. The commercial operation period was put into production for the project.
Green Power will combine the development and actual needs of Dengfeng City, give full play to its technological advantages, carry out in-depth cooperation, and rapidly promote project construction to achieve win-win development. After the completion of the project, it will have a positive effect on improving the urban and rural environment in Dengfeng City, realizing the recycling of renewable resources and driving employment.