Press Releases Archives - VPower Group Fast Track Distributed Power Generation

First Biogas Project Commenced Commercial Operation

5:18 pm
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VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), a leading DPG station owner and operator in Southeast Asia, is pleased to announce that the first phase of the Group’s first biogas project equipped with combined heat and power (“CHP”) system in Shandong Province, China (“Shandong Project”) has commenced commercial operation in early September.

The Shandong Project is the Group’s first “Waste-to-Energy” project with a 15-year contract term to provide its off-taker with a one-stop power generation solution starting from the biological desulfurization process. The first phase of the project with an installed capacity of 8.2MW has commenced commercial operation in early September after a successful trial operation while the second phase is under construction. China National Technical Import and Export Corporation, one of the Group’s long-term partners, has been engaged as the EPC contractor. The project is equipped with CHP system to generate electricity and stem simultaneously. The off-taker is one of the largest chemical enterprises in China with a total asset value of more than RMB 6billion. It is also a government recognized high-and-new technology enterprise.

Mr. Rorce Au-Yeung, Co-Chief Executive Officer of the Group, gladly commented, “The Chinese government has been actively promoting ‘Waste-to-Energy’ power generation, which is an indispensable part of green future. Being an expert of distributed power generation, we are closely following the development of the energy market and committed to developing clean energy, such as biogas power generation. Shandong Project not only marks our first IBO project in China, but also our first biogas project equipped with CHP system. Upon the commencement of operation of the entire project, Shandong Project is believed to be one of the largest operating biogas projects in China. The official commencement of commercial operation of its first phase has been an encouraging event to us, which demonstrates our capability in diversifying the fuel source of our projects and developing ‘Waste-to-Energy’. In pursuit of a green future, we will continue to explore the clean energy industry and provide solutions with high energy efficiency and low carbon emission.”

 

About VPower Group International Holdings Limited

VPower Group is principally engaged in SI business, in which the Group designs, integrates and sells gas-fired and diesel-fired engine-based gen-sets and power generation systems, utilizing proprietary system designs and integration capabilities of the Group; and IBO business, in which the Group invests in, builds and leases and operates distributed power stations to deliver electricity to the region. It is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based distributed power generation (DPG) station owner and operator.
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Receives Letter of Acceptance for a 90MW Power Plant from Myanmar Government

11:37 pm
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VPower Group International Holdings Limited (“VPower Group”, or together with its subsidiaries, the “Group”) is pleased to announce that the Group was issued a Letter of Acceptance by Electric Power Generation Enterprise (“EPGE”), Ministry of Electricity and Energy of the Government of the Republic of the Union of Myanmar (“Myanmar”) which sets out the mutual understandings on key terms for the definitive agreement in respect of the purchase of electricity (90MW) in Myingyan Region, Myanmar by EPGE with a term of 60 months (subject to extension by agreement) (the “Project”) on 7 May 2018. The Group expects to build and operate a gas-fired power plant with an expected commercial date in February 2019.

Mr. Rorce Au-Yeung, Co-Chief Executive Officer of the Group gladly commented, “We were awarded this Project through a public tender in March 2018. Myanmar has been one of our core operating countries in Southeast Asia, where we provide fast-track distributed power solutions to generate reliable and stable electricity to enhance the local electrification rate hence supporting its accelerating economic growth. This Project further evidences our leading position in the local power market.”

Myanmar is a member of the Association of Southeast Asian Nations, as well as a country along the Belt and Road Initiative of China. It is one the fastest growing economies with a GDP growth of 6.4% in 2016/17 and a projected average medium-term growth of 7.1% per year by the World Bank. With less than one-third of population connected to the electrical grid, the government is taking an active expansion plan to boost the power supply to mitigate existing power shortage and laying a foundation to seize upcoming development opportunities. The Group expects Myanmar to become an indispensable economic pillar of the region and is looking forward to making continual contribution with its expertise to power its future.

 

About VPower Group International Holdings Limited

VPower Group is principally engaged in SI business, in which the Group designs, integrates and sells gas-fired and diesel-fired engine-based gen-sets and PGSs, utilizing proprietary system designs and integration capabilities of the Group; and IBO business, in which the Group invests in, builds and leases and operates distributed power stations to deliver electricity to the region. It is one of the world’s leading large gen-set system integration providers, and Southeast Asia’s largest private gas-fired engine-based DPG station owner and operator.

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