Canvest WTE

completed

A publicly listed company, Canvest Environmental Protection Group company Limited (“Canvest” or “the company”) is a Waste to Energy (“WtE”) provider focused on the development, management and operation of WtE plants. The company’s business traced back to 2003 and the Company was listed on the Hong Kong stock exchange in 2014. Canvest’s WtE business operations include both build-own-operate (“BOO”) projects and build-own-transfer (“BOT”) projects, typically above 1,000 ton per day (“tpd”) of waste incineration capacity using contemporary Moving Grate Technology.IFC is considering providing convertible debt financing of up to HK$465,012,000 (approximately equivalent to US$60 million) to Canvest to support the company’s WtE business growth in China. The company’s growth strategy entails a two-pronged approach of acquiring brownfield projects for upgrade and expansion, and securing Greenfield projects. As of November 30, 2015, Canvest operates in China and has secured 7 projects with total installed capacity of 12,400 tpd, including operating capacity of 5,400tpd under both BOO and BOT contracts. Projects include several in Guangdong province – specifically 4 in Dongguan city, 1 in Zhanjiang city and 1 Greenfield WtE plant in Qingyuan city - as well as 1 in Laibin city, Guangxi Zhuang Autonomous Region. Projects currently operational and those under development are identified below: WtE Projects in operationKewei WtE plant is located in Dongguan, Guangdong province. The project recommenced operations in 2011, and processes up to 1,800 tpd of municipal solid waste (“MSW”) with installed power generation capacity of 30 MW. An Environmental and Social Impact Assessment (ESIA) was approved by local government and publicly disclosed in 2009.Ecotech 1 WtE plant is located in Dongguan, Guangdong province. The project began commercial operations in 2015 after technological upgrade, and processes up to 1,800 tpd of MSW with installed power generation capacity of 36 MW. An ESIA was approved by local government and publicly disclosed in 2014.China Scivest WtE plant is located in Dongguan, Guangdong province. The project began operations in 2013 after technological upgrade, and processes up to 1,800 tpd of MSW with installed power generation capacity of 42 MW. An ESIA was approved by local government and publicly disclosed in 2012.WtE Projects under developmentZhanjiang Yuefeng WtE plant is located in Zhanjiang, Guangdong province. The project is anticipated to process up to 1,500 tpd of MSW. The ESIA was approved in 2013. Ecotech 2 WtE plant is located in Dongguan, Guangdong province. The project is anticipated to process up to 1,500 tpd of MSW. The ESIA was approved in 2015.Qingyuan I WtE plant is located in Qingyuan, Guangdong province. The project is anticipated to process up to 1,500 tpd of MSW. The ESIA is under preparation.Qingyuan II WtE plant is located in Qingyuan, Guangdong province. The project will be developed as Phase II of the Qingyuan I project, and will process up to 1,000 tpd of MSW. The ESIA is under preparation.Laibin Zhongke I WtE plant is located in Laibin, Guangxi Zhuang Autonomous Region. The project is anticipated to process up to 1,000 tpd of MSW after technological upgrade. The ESIA is under preparation.Laibin Zhongke II WtE plant is located in Laibin, Guangxi Zhuang Autonomous Region. The project will be developed as Phase II of the Laibin Zhongke I project, and will process up to 500 tpd of MSW. The ESIA is under preparation.