Project Performance Evaluation Report for the Eco-Industrial Park Waste-to-Energy Project (Loan No. 3750/Investment No. 7576-PRC)

ONGOING EVALUATION. On 29 November 2018, the Board of Directors of the Asian Development Bank (ADB) approved a loan for the Eco-Industrial Park Waste-to-Energy Project with a facility of up to $100 million equivalent extended to Shanghai SUS Environment Company Limited (SUS). This funding was intended to finance a portfolio of waste-to-energy (WTE) facilities within eco-industrial parks in second and third-tier cities in the People's Republic of China. Between 2019 and 2021, SUS utilized the ADB funds to invest in a subproject company, providing financial support for civil works, equipment procurement, local sourcing, and operational capital for a WTE plant. 

The facility agreement was executed on 22 March 2019. The first disbursement was made on 6 May 2019, reimbursing SUS for its equity injection into Taiyuan Waste-to-Energy Company, Limited, a subproject company responsible for the Taiyuan WTE plant, and the only subproject to be supported through the ADB loan.

The main objective of this evaluation is to assess project performance towards achieving the main objective of promoting environmentally sustainable growth and private sector development. The evaluation is envisaged to derive lessons that can assist in the design and implementation of future ADB private sector operations, particularly similar investments in the energy sector in PRC and other ADB developing member countries. Moreover, the evaluation findings are expected to provide inputs to the Thematic Evaluation: Livable Cities.