The International Finance Corporation is supporting waste-to-energy investments in China to help maintain working capital for five existing plants that burn municipal waste to produce electricity, and for the construction of five more plants.
5 March 2012: The International Finance Corporation (IFC), a member of the World Bank Group, has subscribed US$4.9 million in warrants to support renewable energy development, in particular waste-to-energy projects, in China.
IFC will support this project by subscribing to warrants worth around Singaporean $6.3 million in C&G Environmental Protection Holdings Ltd. for its waste-to-energy projects. C&G will use these funds as working capital to support its five waste-to-energy power plants, and five more plants under construction. The end goal of this project is for the power plants to generate 400 gigawatt hours of electricity annually by the end of 2016 through burning of municipal solid waste. Upon reaching the goals of the project, such progress would avoid 30,000 tons of greenhouse gas emissions each year. [IFC Press Release]