The Asian Development Bank (ADB) has offered $100m loan to Shanghai SUS Environment (SUS) to finance a range of waste-to-energy (WTE) facilities within low carbon eco-industrial parks (EIPs) in the People’s Republic of China (PRC).
SUS, an environmental protection company, was established in 2008 with headquarters in Shanghai, PRC. It provides equipment and design capacity for grate incineration technology for WTE plants and develops and operates WTE plants and eco-industrial parks in the PRC.
The financing provided by ADB marks its first eco-industrial park waste-to-energy project.
The project is expected to use advanced incineration and emission treatment technologies to treat the municipal solid waste (MSW) sustainably and supply clean electricity to the grid. The facility also would supply power and steam to treat different types of waste within the EIPs.
The project is designed to mitigate climate change through increased renewable energy generation and reduction of landfill-generated methane.
ADB Southeast Asia, East Asia, and Pacific private sector operations department infrastructure finance division director Jackie Surtani said: “SUS is a pioneer in the PRC’s environmental protection industry. SUS’s waste-to-energy facilities can meet stringent air emissions standards, recycle resources within the eco-industrial parks, and are community centric with its onsite waste museums and artistic architectures.”
In 2017, PRC has generated approximately 215 million tons of MSW and became world’s largest producer of MSW. PRC is anticipated to increase the MSW generation to 500 million tons per year by 2025.
Under the present project financing, the facilities are expected to use clean and advanced incineration technology to process approximately 4,800 tons of MSW per day.
The ADB said that the WTE facilities are targeted to treat 1.75 million tons of MSW and generate 437.5GWh of clean energy, to reduce annual CO2 emissions equivalent to nearly 1.17 million tons.
Furthermore, the project is also expected to generate 150 new jobs, including over 30 new jobs to women in operations and open career opportunities through technical training to female staff.
SUS Chairman and chief executive officer Long Jisheng said: “The cooperation with ADB will help SUS to accelerate the development of multiple projects and enable us to provide better services to the people and government where WTE projects are needed. SUS welcomes this unique opportunity to establish a long-term partnership with ADB.”
Recently, the ADB, along with other development banks and Southeast Asian governments, have launched a new ‘ASEAN Catalytic Green Finance Facility’, a new initiative to invest more than $1bn in green infrastructure investments across Southeast Asia.