旺能环境拟12亿建垃圾焚烧电厂 扩大海外业务版图跟踪项目15个

Core Viewpoint - Wangneng Environment is actively expanding its overseas market presence by investing in a new waste-to-energy project in Uzbekistan, which is expected to enhance its international business footprint and provide new growth opportunities amid a saturated domestic market [2][4]. Group 1: Investment Details - The company has approved an investment of up to 1.2 billion yuan to construct a waste incineration power plant in Bukhara, Uzbekistan, with a daily processing capacity of 1,500 tons [2][3]. - The investment represents approximately 17.96% of the company's latest audited net assets [2]. - The project includes a 2-year construction period and a 30-year operational period, with a designed capacity of 50 megawatts [2]. Group 2: Revenue Sources and Financial Strategy - Revenue for the project will primarily come from waste treatment fees and electricity sales, with treatment fees set at $5 per ton during the commissioning phase and $10 per ton during commercial operations [3]. - The electricity sale price is standardized at $0.10 per kilowatt-hour, with a formal sales agreement to be signed later [3]. - The company plans to finance the investment through 30% equity and 70% debt or equity financing, despite having a current cash position of 701 million yuan [3]. Group 3: Current Operations and Market Position - Wangneng Environment operates 21 waste-to-energy plants with a total capacity of 21,820 tons in various provinces in China and is also developing projects in Vietnam [4][6]. - The company is tracking 15 overseas projects, focusing on markets such as Vietnam, Malaysia, Thailand, Saudi Arabia, Mongolia, South Africa, Uzbekistan, and Cambodia [5][6]. - For the first half of 2025, the company reported revenues of 1.252 billion yuan from its waste treatment business, with a net profit of 428 million yuan [5].