ADB supports clean waste-to-energy project in the PRC! Offers $200 million in Loans for upcoming projects.
September 14, 2009
The Asian Development Bank (ADB) announced recently, that it would provide up to $200m (£122m) in loans for the construction of waste-to-energy plants in China.
The proposed scheme marks a major chapter in China’s race to turn 30 per cent of rubbish into power by 2030.
The credit financing will be provided to a Hong Kong-based waste treatment project developer, to build power plants fuelled by municipal rubbish in second-tier Chinese cities. The credit line will comprise two $100m loans, disbursed by commercial banks, with ADB as the lender of record. Each loan has a maturity of up to 10 years.
The treatment of solid waste is a serious environmental challenge in China, the ADB noted in their statement, with the nation generating about 140m tonnes per year with a growth rate of about 10 per cent annually.
“Waste-to-energy processing with clean technology is the most effective method of treating municipal solid waste since it slashes waste volumes by 90 per cent and eliminates methane gas emissions from the waste treatment process,”
~ ADB investment specialist Hisaka Kimura.
China has a target of increasing the amount of municipal rubbish used in waste-fuelled power stations to 30 per cent by 2030, up from one per cent in 2002.
Find out more about China’s emerging Waste-to-Energy industry at the upcoming Biomass & WtE summit, where you will get to hear from China’s Energy and Environmental Development Research Center (EED) and Shanghai Pucheng Thermal Power Energy Co., Ltd. on Waste-to-Energy project developments in China.
>>Click here to confirm your participation for Biomass & WtE summit, on 28-29 October in Shanghai!<<
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