The company and Ma’anshan Urban Development Investment Group will sign a 50-50 joint venture agreement to establish a new company, which will construct the project on build-operate-transfer basis.

The Ma’anshan project, which is claimed to be Everbright’s first waste-to-energy project in Anhui Province, will be executed in two phases with the first phase designed to have a daily waste processing capacity of 800 tonnes with a an investment of around RMB450m (€54.6m).

Located around 20km from Nanjing waste-to-energy project, the Ma’anshan project with a concession period of 30 years is likely to generate around 100 million kWh of green electricity annually.

Everbright CEO Chen Xiaoping said the company has secured the project and look forward to cooperating with Ma’anshan Urban Investment Group.

"Upon completion, Ma’anshan project, which represents a landmark project demonstrating the Group’s new involvement in inland cities following its previous work in coastal cities, will have an organic connection with the Group’s biomass power generation projects in Dangshan and Hanshan, Anhui Province and further consolidate the Group’s market position in this province.

"The Group will introduce advanced technology and strong management experience to the Project to optimize and enhance its operations and production efficiency, and make it a model demonstration project through our consistent high standards to achieve the goals to create an optimum economic and social environment.

"At the same time, we will reinforce the Group’s brand influence in Anhui Province and contribute to the local society and environmental protection efforts," added Xiaoping.