February 5 (Renewables Now) - The Asian Development Bank (ADB) is providing a loan of USD 100 million (EUR 81m) to China Everbright International Ltd (HKG:0257), or CEIL, for a series of waste-to-energy projects in Vietnam.
Under the loan agreement, signed on Friday, the financing will support the construction and operation of waste-to-energy plants in a number of municipalities in Vietnam. The facilities will use advanced clean technologies and each of them will treat municipal solid waste and supply electricity to the local grid. According to ADB, waste to energy is an effective way to manage Vietnam's increasing amount of municipal solid waste, while at the same time reducing methane emissions and increasing renewable energy generation.
This will be the first municipal waste-to-energy public-private partnership (PPP) project in Vietnam.
CEIL secured a waste-to-energy project in Vietnam in 2016 that is currently under construction and is expected to start operations this year.
(USD 1 = EUR 0.806)