Canvest Corporate Loan (IFC-40570)

  • China
Where the impacts of the investment may be experienced.
Specific Location
Guangdong, Guangxi, Guizhou, Jiangxi, and Sichuan provinces
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
The holder of the loan, grant, or other investment.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 853.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 20, 2019

Disclosed by Bank May 31, 2018

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Project Description

Canvest Environmental Protection Group Company Limited (“Canvest” or the “Company”) is a Chinese private waste-to-energy (“WtE”) player with total secured capacity of 26,040 tons per day (“tpd”) as of March 31, 2018.

Canvest currently has 10 WtE projects in operation/testing with total capacity of 13,540 tpd, and an additional 7 WtE projects in the pipeline with a total installed capacity of 26,040 tpd of MSW. At the time of IFC’s initial investment in the company (2016), four WtE projects in Guangdong were operational, while an additional five were in development, two of which have since become operational and others have added phases to existing facilities.

Investment Description

 As of December 31, 2017, Canvest was 54.6% owned by Lai Family.  Other main investors include Shanghai Industrial Holdings Limited (“SIHL”) – 14.5%; and AEP Green Power – 5.6%.  IFC provided a C Loan to Canvest in April 2016, which was subsequently converted into a 4.9% ownership.

The total project cost is estimated at about US$853.8 million, which is to be financed by a combination of Company’s internal cash generation, IFC A Loan, mobilization, and the domestic bank loan.  IFC’s A Loan will be 6% of Company’s total CapEx need during 2H2017-2019.

Private Actors Description

"Canvest is mainly a family-owned business, with the Lai family holding a 54.6 percent stake, while other main investors include Shanghai Industrial Holding Ltd and AEP Green Power, which hold 14.5 percent and 5.6 percent, respectively".

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - AEP Green Power Investor -
- - - - Shanghai Industrial Holdings Ltd Investor -

Contact Information

1/ The Project Contacts

Canvest Environmental Protection Group Company Limited 
George Law 
Vice President 
(852) 2668 6596 
Unit 6803B, Level 68, ICC, 1 Austin Road West, Kowloon, Hong Kong 

2/ IFC Contacts

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

3/ Local Access for Project Documentation

George Law 

Address: Unit 6803B, Level 68, ICC, 1 Austin Road West, Kowloon, Hong Kong

Telephone no.: (852) 2668 6596

Fax: (852) 2668 6597




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