Message #35 From:
NewsBot Date: March 24, 2008 06:06:56 PM
China Holdings, Inc. Announces 5th Biomass Energy Project (50MW): Total Potential 320 MW in Alternative Energy Projects Development Pipeline
BEIJING and LAS VEGAS, March 24 /Xinhua-PRNewswire-FirstCall/ -- China
Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified asset holdings
company, and its subsidiaries that engage in multiple China-focused business
activities including energy, renewable energy, resources, utilities, finance,
real estate, and pharmaceuticals, announced today the Company, via its wholly
owned subsidiary: China Power, Inc. ('China Power'), has executed a
Development and Construction Agreement (the 'Construction Agreement') with
Huaxian Government ('Huaxian'), Hunan Province, People's Republic of China.
The breakthrough brings the Company's total potential power capacity up to
320 MW in Alternative Energy Power Generation Plant/Projects Development
Pipeline. The Company is establishing longstanding strategic relationships
with other power operators, financial sponsors, suppliers, subcontractors and
government that will ensure the Company's successful development of
alternative power generating facilities across China.
Specifically, under the Construction Agreement, Huaxian has granted to
China Power: 1) the exclusive right to develop and construct a 50 megawatt
biomass energy power plant, 2) the land rights for up to 200 MU, or 133,400
square meters of land, to develop a biomass energy power plant.
In addition to the foregoing, according to the China Central Government's
alternative energy to Biomass Energy Projects, under the Construction
Agreement, Huaxian has guaranteed China Power: (i) the financing for up to 65%
of the 580 million Yuan needed by China Power through a local bank at a
preferred interest rate for construction and development of Huaxian Biomass
Energy Power Generation Plant (50MW), (ii) that 100% of the power generated by
the Biomass Energy plant shall be purchased by the China State Grid at a
purchase price of between 0.60 and 0.65 Yuan, or approximately $0.09 and $0.08,
per kilowatt, (iii) this Huaxian Biomass Energy Power Generation Plant/project
(50MW) has been designated with a total of 400 million KW/hr power generation
capacity annually, (iv) China Power's rights under the Construction Agreement
are exclusive, (v) conversely, China Power has committed to invest up to 580
million Yuan, or approximately $81,586,000 towards the development of the
power plant.
The Construction Agreement also provides that Huaxian shall be responsible
for securing all necessary government approvals and ensuring the supply of all
required utilities, such as electricity, water, communications and roadways,
and China Power shall be responsible for obtaining all required financing for
the plant and operating the plant with the most advanced technology available.
The construction of the plant is estimated to take approximately two years.
The Company is developing its Alternative Energy Projects & Pipeline in
Biomass Energy Power Generation Plants & Hydropower Plants in hopes of
reaching a total Potential Power Capacity of 3200 MW by the year 2013 via
Merger & Acquisitions (M&A), Joint-Venture Partnerships with Biomass Projects
& Hydropower Plants and companies, governments in China, or/and worldwide. The
Company's Advanced Renewable Energy Strategy & Plan in Hydropower Plants and
Biomass Energy Power Generation Plants will enhance the technical, social, and
environmental benefits of Biomass Energy /hydropower and provide investment
and business opportunities in the cost-competitive Biomass Energy /hydropower
capacity energy supply in China as well as around the world, which will
increase the Company's worldwide shareholders' value in the long term.
The Company's 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/and worldwide, or/and which derive a significant part of their
revenue from China, or/and worldwide. For the Company's profile, please feel
free to visit our website: http://www.chinaholding.net .
About China Holdings, Inc.
China Holdings, Inc. (NASD OTC Bulletin Board: CHHL), is a diversified
global assets holding company. The Company and its subsidiaries engage in
multiple China-focused business activities including energy, renewable energy,
resources, utilities, finance, real estate and pharmaceuticals. 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/and worldwide, or/and which
derive a significant part of their revenue from China, or/and worldwide. The
Company has three wholly-owned subsidiaries: (i) China Power, Inc., and (ii)
China Minerals Holdings, Inc.; (iii) China Health Holdings, Inc. For the
Company's profile, please feel free to via website:
http://www.chinaholding.net .
About China Power, Inc.
China Power Inc., a wholly owned subsidiary of China Holdings, Inc., is a
global energy & renewable energy holding corporation, which focuses on Merger
& Acquisition, Joint-Venture Partnership, Investment, Research & Development,
Construction and Operation of energy, and renewable energy, and environment
protection projects in China and worldwide. The Company is developing its
Renewable Energy Projects & Pipeline in Biomass Energy Projects & Hydropower
Plants to reach the Total Potential Power Capacity 3200 MW by the year 2013.
The Company's Advanced Renewable Energy Strategy & Plan in Hydropower Plants
and Biomass Energy Projects will enhance the technical, social, and
environmental benefits and provide investment and business activities in the
cost-competitive biomass energy and hydropower capacity energy supply in China
and worldwide, and also increase its worldwide shareholders' values in the
long term.
About Biomass Renewable Energy in China
Renewable Power Producers are involved in generating electricity power
from renewable energy sources, such as Hydropower (Water), Wind Energy and
Certain Waster Products such as Biomass. The demand on renewable energy power
in the world continues growing and is largely driven by long-term trends
towards stronger policies for environmental protection. The combustion of
fossil fuels such as coal, oil and natural gas to generate electricity power
emits greenhouse gases, and is acknowledged worldwide as a major source to
global warming. For environmental protection, combined with an increase in
electricity demand, lower-level growth of electricity supplies, and near
all-time high energy commodity prices are enticing electricity producers and
providers to diversify their mix of power generation sources to include a
larger share of renewable power.
Biomass Renewable Energy: straw to energy. Straw is renewable energy and
is a part of nature's plants. The carbon on the inside of the straw can change
to organic carbon through absorption of carbon dioxide (CO2) from the
atmosphere during photosynthesis. The biomass energy project, as an
alternative and renewable energy source, is fully supported by the central
government and local governments of China. The development and construction of
the renewable energy project is protected by The Renewable Energy Law, created
on January 1, 2006, by the People's Congress of China. The Chinese central
government has set a series of tax exemption/deduction regulations to
encourage the construction of renewable energy projects. The National Reform
and Development Committee implements the purchase electricity price for
renewable energy. It ensures the standard purchase electricity price is 0.25
Yuan/kWh addition base on the local average grid connection price (0.25-0.44
Yuan/kWh). In addition, there is a supervision system to ensure full purchase
and payment.
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:
Wall Street Reporter, Inc. (New York) Jack Marks, CEO & Publisher Tel: +1-212-363-2600 x260 Web: http://www.WallStreetReporter.com
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: info@chinaholding.net; lujulianna@yahoo.com Web: http://www.chinaholding.net
