BEIJING and LAS VEGAS, May 29 /Xinhua-PRNewswire-FirstCall/ -- China Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified asset holdings company and its subsidiaries, headquartered in the U.S. and engaged in multiple China-focused business activities including energy, renewable energy, resources, utilities, finance, real estate, and pharmaceuticals, today announced its consolidated development of its 4 Biomass Waste to Energy Power Plants/Projects (The total power capacity: 200MW).
The Company and its wholly owned subsidiary: China Power, Inc. (‘the Company”) have accomplished:
-- America-China Green Energy (TaiHu) Co. Ltd. -- Legal Entity/Name
Approved by Chinese Government, 100% owned by the Company, will operate
the Company’s TaiHu Biomass Power Plant/Project (Power Capacity: 50MW),
AnHui Province, PR China. The Company has Completed Fuel Analysis and
Feasibility Study.
-- America-China Green Energy (Ontniute) Co. Ltd. -- Legal Entity/Name
Approved by Chinese Government, 100% owned by the Company, will operate
for (Ontniute) Biomass Power Plant/Project (Power Capacity: 50MW),
Inner Mongolia, PR China. The Company has Completed Fuel Analysis and
is working on Feasibility Study.
-- America-China Green Energy (HuaXian) Co. Ltd. -- Legal Entity/Name
Approved by Chinese Government, 100% owned by the Company, will operate
for (HuaXian) Biomass Power Plant/Project (Power Capacity: 50MW), HuNan
Province, PR China.
-- America-China Green Energy (LongHua) Co. Ltd. -- Legal Entity/Name
Approved by Chinese Government, will operate for (LongHua) Biomass
Power Plant/Project (Power Capacity: 50MW), HeBei Province, PR China
-- America-China Green Energy (ConYang) Co. Ltd. -- Legal Entity/Name is
being processed for Approval by Chinese Government, will operate for
(ConYang) Biomass Power Plant/Project (Power Capacity: 50MW), AnHui
Province, PR China
The Company’s 5 Biomass Energy Power Plants (250MW)’s Potential Profitability
Government Policy Supports
-- The municipal government has approved China Holdings/China Power to
build, own and operate the 5 Biomass Waste to Energy Power
Plants/facilities (5 x 50 = 250 MW) for over 30 years, with additional
renewable terms/years.
-- The Central Chinese Government, provincial and local municipal
governments have enacted new legislation and brought in new regulations
for both the effective disposal of agricultural and forestry waste and
the efficient use of renewable energy resources, such as crop straw and
bush. Under the recently introduced legislation and regulations, State
owned electricity grids now must purchase all electricity produced by
renewable energy projects. The purchase price is also 0.25 RMB/Yuan
higher than the normal electricity sale price for coal-fired power
plants. This new legislation and the new regulations have therefore
made it both possible and profitable for private investment in the
biomass waste to energy projects.
-- Law: The Renewable Energy Law was passed by the People’s Congress of
China on February 28, 2005 and came into force on January 1, 2006.
-- Tax Benefits: To encourage the construction of renewable energy
Projects, the Chinese Central Government has introduced a series of tax
exemptions, incentives and tax holiday privileges.
-- Electricity Price: To ensure the construction and development of
Renewable energy projects, the National Reform and Development
Committee has set the standard electricity price for renewable energy
0.25Yuan/KWH higher than the local average grid connection price. This
is approximately 40% higher than the local average. Additionally,
there is a supervision system to ensure full purchase and payment of
all Renewable energy produced.
-- Carbon Credits: The Chinese Government allows qualifying joint venture
Plants to trade Clean Development Mechanism (CDM) credits. These can
be traded in advance of Plant construction at around US$ 10-15/ton or
at a much higher value if traded after construction is completed.
The characteristics of the China Holdings/China Power’s each biomass waste to energy power plant/project (50 MW):
1. Size: 1240 tons-per-day
2. Annual waste disposed: 409,200 tons
3. Construction period: 24 months
4. Operating period: 30 years
5. Power Capacity: 50 MW x 5 = 250 MW
6. Annual electricity produced: 411,050,000 kW-hrs
7. Annual electricity sold: 361,680,000 kW-hrs
8. Total Project Investment: 610,790,000 RMB
9. Electricity sell Price: 0.61 RMB/kW-hr
10. Fuel Delivery Price: 150-300 RMB per ton
The Company’s Total 5 Biomass Waste To Energy Plants (250MW) in China:
Begin operation and production in 2010, Expect:
* Annual electricity produce: 2055,250,000 kW-hrs
* Annual electricity sold: 1808,400,000 Kw-hrs
* Electricity sells Price: 0.61 RMB/kW-hr
* Total Investment (35% cash + 65% bank loan): 3053,950,000 RMB
* Total Power Capacity: 250 MW
The Company is developing its Renewable 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 Energy Plants/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 have technical, social, and environmental benefits 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. (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 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., (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 company headquartered in the U.S. It focuses on Merger & Acquisition, Joint-Venture Partnership, Investment, Research & Development, Construction and Operation of energy, 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 have 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.
Biomass Waste as a Clean Renewable Energy
Straw is the main by-product from the harvesting of agricultural crop. In the past, straw, bush and quitch was used as a household cooking fuel. However, in recent years, as China’s agricultural economy has developed and farmers’ incomes have increased, the usage of straw, bush and quitch has decreased sharply. Farmers now prefer to use fuels, such as coal and gas, which are easier to use, have higher energy content, and require less space for storage. An increasing amount of straw, bush and quitch is now burnt in the open in many regions in China. The burnt portion can be as much as 80% of the straw, bush and quitch produced and causes serious environmental problems. Instead of open burning, straw, bush and quitch can be used to generate electricity in an environmentally friendly manner. By 2010, China will have between 350 million tons to 370 million tons of unused straw. If this huge amount of straw is used for power generation, it would represent an additional 450 billion KwH of electricity. Biomass waste to energy is therefore a very sustainable and environmentally friendly potential energy source in China. Smoke emissions from agriculture waste open-burning and forest fires badly affect air quality. Collecting agriculture from farmers can avoid biomass burning in site, which caused not only smoke and pollutants but also risk highway transportation and air transit. Removing forestry waste like accumulated dead wood and bush, dry quitch, foliage and grass from forested areas can reduce forest fire risk. The biomass waste to energy plant will offer a rewarding application with effective and clean combustion compared to straw open-burning in site or forest fire, and will significantly reduce and eliminate smoke emitted from open burning in site and forest fires.
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: info@chinaholding.net; lujulianna@yahoo.com
Web: http://www.chinaholding.net; http://www.chinaholdings.org
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.
