| Copyright: | PR Newswire | | Source: | PR Newswire | | Wordcount: | 1987 |
BEIJING and LAS VEGAS, Sept. 27 /Xinhua-PRNewswire-FirstCall/ -- China
Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified asset holdings
company and its subsidiaries, headquartered in the U.S., engaged in multiple
China-focused business activities including energy, clean energy, resources,
and utilities, and its controlled subsidiary, China Power, Inc. (together as
"The Company"), today announced that the Company have executed a four-year
contract ("the Contract") with 100% exclusive and first rights to develop and
construct the Inner Mongolia 2nd Ontniute Wind Energy Power Plants/Projects
(Power Capacity up to 300 - 1000 mega watts, approximately) with the local
Ontniute government, Inner Mongolia, PR China ("Ontniute").
The Inner Mongolia 2nd Ontniute Wind Energy Power Plants/Projects are
combined through a total of 6 to 20 wind energy plants, each with 49.8 mega
watts of capacity on a 2nd defined 200 square KM piece of land in Inner
Mongolia, PR China.
The Breakthrough confirms China Holdings and China Power's honorable
commitment to develop, construct and contribute to China's clean energy
industry, including wind energy, biomass clean energy and hydropower. The
development brings the Company's Clean Energy Power Plants/Projects Pipeline:
a total potential power capacity up to 850 -2250 Mega Watts in the processing
of development, pre-construction, and construction as the following:
1). Approximately 600 - 2000 mega watts of wind energy, which is a combined total of 12 to 40 wind farm energy plants each with 49.8 mega watts of capacity on the defined 400 square KM piece of land in Inner Mongolia, PR China. 2). 250 Mega Watts: 5 Biomass Clean Energy Power Plants/Projects from a total of 5 biomass clean energy power plants each with 50 mega watts = 2 x 25 MW on the defined 501,000 MU (1 MU = 667 sq. meters) piece of land.
The value inherent in the Company's unique position through its Clean
Energy Power Plants/Projects Pipeline (Potential Power Capacity: 850 -2250
Mega Watts, approximately) is truly extraordinary, and the progress the
Company has made on its initiatives for the coming years signals the ability
to capitalize on the underlying potential of clean energy power plants &
industry in China, or/and worldwide.
Pursuant to "the Contract", the "Ontniute" government has granted the
Company with the Inner Mongolia 2nd Ontniute Wind Energy Power Plants/Projects
(Power Capacity approximately 300 to 1000 mega watts) with
-- A four-year development and construction contract: with 100% exclusive and first rights, as well as non-competition/non-solicit terms, of investment and construction rights; -- The scale of the Inner Mongolia 2nd Ontniute Wind Energy Power Plants/Projects is an approximate power capacity of 300 to 1000 mega watts, which is combined with an additional 6 to 20 wind energy plants each with 49.8 mega watts of capacity on a 2nd defined 200 square KM piece of land in Inner Mongolia, PR China; -- Ontniute will be responsible for support and coordination with government departments for related legal processing; -- As stated in amended China renewable energy laws to wind energy producers and developers: an electricity power price of 0.50-0.55 Yuan Per/Kwh, & a guarantee from state grids confirm 100% purchase of the electricity power from wind energy producers and developers; -- The Company has agreed to invest and construct this Inner Mongolia 2nd Ontniute Wind Energy Power Plants/Projects (Power Capacity approximately 300 to 1000 mega watts) in the next four years, with a total investment of 2.7 billion Yuan (RMB) through 35% cash/equity & a 65% bank loan; and -- The Company will be responsible for further PR government's processing and compliances, including construction permits, collecting wind data/resources, research and investigation, and the further development of construction over the next 4 years.
China Holdings, Inc. and its controlled subsidiary, China Power, Inc.,
plan to complete its Inner Mongolia 1st & 2nd Ontniute Wind Energy Power
Plants/Projects' development (wind data collection, technical assessments and
government processing), financing and construction, with the aim of being
fully operational by 2010-2013, approximately. With its power capacity
ranging from 600 to 2000 mega watts, with an annual average full load
electricity generation of approximately 2500 -2800 hours, the projects will be
constructed on a defined 400 square KM piece of land in Inner Mongolia, PR
China, as part of a phase I & II development platform. Under the china
renewable energy laws, these wind energy plants will be operated under a 25 to
30-year operation/production license, plus China's State-Grids will guarantee
to purchase 100% of the electricity power generated by the wind plants at a
guaranteed electricity price of 0.50 - 0.55 Yuan/Kwh, with annual increases of
5% as an approximate increase in line with inflation.
The Company is aiming to be one of the leading developers of high value
wind energy & clean energy properties in China or/and worldwide. The Company
has competently positioned itself to be one of the leading wind & clean energy
developers in China, with key strengths that include: a). Being a pioneer
developer in wind energy & clean energy properties, as recent successes
highlight, the company has a clean energy power plants/pipeline with a power
capacity up to 850 - 2250 mega watts that are in development, pre-construction
and construction in China, including a combined 250 Mega Watts: 5 Biomass
Clean Energy Power Plants/Projects at 50 mega watts (2 x 25 MW) and a combined
600 to 2000 Mega Watt Wind Energy Power Plants/Projects: 12 to 40 wind energy
plants each with 49.8 mega watts of capacity; b). Through building high value
wind energy and clean energy power plants/projects with world class quality,
operation and maintenance levels; c) A comprehensive master of the
complexities and activities in the China wind energy market & clean energy
industry, including project development, equipment supply and government
policy; d). Firmly established government relations at the local, provincial
and national levels and experience with the complex regulatory and approval
process that is essential to bring all the wind energy & clean energy
plants/projects through approvals to long and successful operation &
production in China; e). Extensive analysis and research tracking
capabilities of the clean energy industry in China; and f). experienced
managements in the development, structuring and financing of large energy
projects in China.
Wind Energy & Resources in China
According to the China Academy of Meteorological Sciences, China has
abundant wind energy resources (253GW onshore + 750GW offshore) and a wind
energy market with annual installations and growth rate on par with Europe and
the US in the coming years. The estimated economically viable capacity for
wind energy in Inner Mongolia is 101GW, accounting for 40% in China.
Additionally, China has a large area of shallow sea with huge wind energy
resources along its eastern coastline. A record 1.4GW of wind power capacity
was installed in 2006, and 2+ GW was installed during 2007. China could
achieve some 75GW of installed wind capacity by 2020, given only a modest 10%
CAGR for annual installations beyond near term development activity. About 23
- 29% capacity factor, annual potential production of electricity from wind
power could be as great as 506 - 632 TWh, approximately.
About China Holdings, Inc.
China Holdings, Inc. (OTC Bulletin Board: CHHL) is a diversified global
assets holding company headquartered in the U.S. The Company and its
subsidiaries engage in multiple China-focused business activities including
clean energy, energy, resources, and utilities. The Company is developing its
clean energy power plants in wind energy power plants, biomass clean energy &
hydropower plants to reach a total potential power capacity of approximately
850 MW to 3200 MW in 2013. Its objective is to achieve long-term capital
appreciation through investment in companies and other entities with
significant assets, investments, production activities, trading or other
business interests in China or worldwide, and/or which derive a significant
part of their revenue from China or worldwide.
The Company has three wholly-owned subsidiaries: (i) China Power, Inc.;
(ii) China Minerals Holdings, Inc.; (iii) China Health Holdings, Inc.
For the Company's profile, please feel free to visit website:
http://www.chinaholding.net; and http://www.chinapower.us
For worldwide investors and media inquiries, please contact: Julianna
Lu/The CEO, via email: ir@chinapower.us, pr@chinapower.us or tel: +86-1370-
133-1287 (china worldwide direct).
About China Power, Inc.
China Power Inc., a controlled subsidiary of China Holdings, Inc., is a
global energy & clean energy holding company headquartered in the U.S. It
focuses on Merger & Acquisition, Joint-Venture Partnership, Investment,
Research & Development, Construction and Operation of energy, clean energy,
and environment protection projects in China and worldwide. The Company is
developing its clean energy power plants in biomass clean energy, wind energy
power plants and hydropower plants to reach a total potential power capacity
of approximately 850 MW to 3200 MW in 2013. The Company's advanced clean
energy strategy & plan in biomass clean energy, wind energy power plants &
hydropower plants will have technical, social, and environmental benefits and
provide investment and business activities in the cost-competitive biomass
clean energy, wind energy and hydropower capacity energy supply in China and
worldwide, and also increase its worldwide Stockholders' values in the long
term.
Forward-looking Statements
To the extent that statements in the press release are not strictly
historical, including statements as to revenue projections, projections of
results of specific activities or investments, business strategy, outlook,
objectives, future milestones, plans, intentions, goals, future financial
conditions, future collaboration agreements, economic performance and trends,
the success of the Company's development, events conditioned on stockholder or
other approval, or otherwise as to future events, such statements are
forward-looking, all forward-looking statements, whether written or oral, and
whether made by or on behalf of the Company, are expressly qualified by the
cautionary statements and any other cautionary statements, which may accompany
the forward-looking statements, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking information is inherently subject to risks and
uncertainties, and actual results could differ materially from those currently
anticipated due to a number of factors, which include, but are not limited to,
risk factors inherent in doing business. Forward-looking statements may be
identified by terms such as "may," "will," "should," "could," "expects,"
"plans," "intends," "anticipates," "believes," "estimates," "predicts,"
"forecasts," "potential," or "continue," or similar terms or the negative of
these terms. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements. The Company has no
obligation to update these forward-looking statements. Other important
factors that could cause actual results to differ materially include the
following: business conditions and the amount of growth in the Company's
industry and general economy; government policies, competitive factors;
ability to attract and retain personnel; the price of the Company's stock; and
the risk factors set forth from time to time in the Company's SEC reports,
including but not limited to its annual report on Form 10-KSB; its quarterly
reports on Forms 10-QSB; and any reports on Form 8-K. In addition, the
Company disclaims any obligation to update or correct any forward-looking
statements in all of the Company's press releases to reflect events or
circumstances after the date hereof.
For worldwide investor and media inquiries, please contact: China Holdings, Inc. (Las Vegas and Beijing) Julianna Lu, Chief Executive Officer Tel: +86-1370-133-1287; +86-10-6586-4770 Fax: +86-10-6586-4790 Email: ir@chinapower.us, pr@chinapower.us Web: http://www.chinaholding.net http://www.chinapower.us Wall Street Report (New York) Mr. Jack Marks, Chief Executive Officer Tel: +1-212-363-2600 Web: http://www.wallstreetreporter.com China Holdings, Inc. (Las Vegas and Beijing) James H. Simpson, Senior Vice President Corporate Development/Investor Relations Tel: +86-1370-133-1287; +86-10-6586-4770 Fax: +86-10-6586-4790 Email: j.simpson@chinapower.us
SOURCE China Holdings, Inc.
CONTACT: China Holdings, Inc. (Las Vegas and Beijing) - Julianna Lu, Chief Executive Officer, +86-1370-133-1287; +86-10-6586-4770, fax, +86-10- 6586-4790, or ir@chinapower.us, pr@chinapower.us; Wall Street Report (New York), Mr. Jack Marks, Chief Executive Officer, +1-212-363-2600; China Holdings, Inc. (Las Vegas and Beijing) - James H. Simpson, Senior Vice President, Corporate Development/Investor Relations, +86-1370-133-1287; +86- 10-6586-4770, fax, +86-10-6586-4790, or j.simpson@chinapower.us
This is a news service of Thomson Business Intelligence Service ©2006. This content is for your personal use only, subject to Terms and Conditions. No redistribution allowed.
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