BEIJING and LAS VEGAS, Sept. 18 /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 the consolidated progress of its 5 Biomass Clean Energy Power Plants/Projects (250 Mega Watts (MW) = 5 x 50 MW(= 2 x 25 MW)).
The Company has contracted the“China Electric and Design Institute” (a China National (Top Rank) Licensed AAA+ Engineering Firm) as the Company’s engineering partner for providing the Company with its engineering experts consultation and services (such as: projects planning & design, engineering, procurement, construction) in regards to the 5 Biomass Clean Energy Power Plants/Projects.
The Company has completed consolidated progress & development of its 5 Biomass Clean Energy Power Plants/Projects (250 MW = 5 x 50 MW (= 2 x 25 MW)) in the following areas:
-- The China Electric and Design Institute has already completed two
feasibility studies for the Company’s TaiHu Biomass Power Plant/Project
(50 MW (2 x 25 MW)) and Ontniute Biomass Power Plant/Project (50MW (2 x
25 MW)).
-- Two Biomass Fuel Supply Guarantee Agreements have been confirmed with
the local government for the Company’s TaiHu Biomass Power
Plant/Project (50MW) and Ontniute Biomass Power Plant/Project (50MW) \
already.
-- Two Biomass fuel analysis for the Company’s TaiHu Biomass Power
Plant/Project (50MW)/Ontniute Biomass Power Plant/Project (50MW) have
also been completed.
-- Water Supply/Electricity Supply, etc. Guarantee Agreements
with the local government for the Company’s TaiHu Biomass Power
Plant/Project (50MW) and Ontniute Biomass Power Plant/Project (50MW)
already are confirmed.
-- The Company plans to operate its TaiHu Biomass Power Plant/Project (50
MW (2 x 25 MW)), AnHui Province, PR China under its wholly-owned
subsidiary: America-China Green Energy (TaiHu) Co. Ltd. which is
expected to begin operation and production in 2010-2011, approximately.
-- The Company plans to operate its Ontniute Biomass Power Plant/Project
(50 MW (2 x 25 MW)), Inner Mongolia Province, PR China under its
wholly-owned subsidiary: America-China Green Energy (Ontniute) Co. Ltd.
and is expected to begin operation and production in 2010-2011,
approximately.
-- The Company has 5 biomass waste to energy power plants (250 MW = 5 x 50
MW (= 2 x 25 MW)) that are expected to begin operation and production
in 2010-2011. Each 50MW Power Plant has the following features:
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 = 2 x 25 MW
6. Annual electricity produced: 411,050,000 KW-hrs
7. Annual electricity sells: 361,680,000 KW-hrs
8. Total Investment
(35% cash/65% bank loan): 500 - 600 Million RMB Approximately
9. Electricity Selling Price: 0.61-0.65 RMB/KW-hr
10. Fuel Delivery Price: 150-300 RMB per ton
11. Land Position: 215 MU (1MU = 667 Sq. meters)
-- The Company’s 5 biomass waste to energy plants (250 MW = 5 x 50 MW (= 2
x 25 MW)) in China are expected to begin operation and production in
2010-2011, we expect:
* Annual electricity produce: 2,055,250,000 KW-hrs
* Annual electricity sells: 1,808,400,000 KW-hrs
* Electricity sells Price: 0.61-0.65 RMB/KW-hr
* Total Investment
(35% cash/ 65% bank loan): 2500 -3000 MILLIONS RMB Approximately
* Total Power Capacity: 250 MW = 5 x 50 MW(=2 x 25 MW)
* Total Land Position: 501,000 MU (1MU = 667 Sq. meters)
The Company is aiming to be one of the leading developers of high value clean energy power plants & properties in China, or/and worldwide. The Company has competently positioned itself to be one of the leading clean energy developers in China, or/and worldwide, with key strengths that include: 1) Being a pioneer developer in Biomass energy & clean energy properties, as recent successes highlight, the company has a clean energy power plants/pipeline with a power capacity up to 550 - 1250 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 (5 x 50 MW)) and 300 to 1000 Mega Watt Wind Energy Power Plants/Projects (298.8 (6 x 49.8) to 996 Mega Watts (20 x 49.8)); 2)Through building high value wind energy and clean energy power plants/projects with world class quality, operation and maintenance levels; 3) 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; 4) 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 Biomass energy & clean energy plants/projects through approvals to long and successful operation & production in China; 5)Extensive analysis and research tracking capabilities of the clean energy industry in China; and 6) Experienced managements in the development, structuring and financing of large energy projects in China.
At the forefront of China’s clean energy industry, the Company has enviable resources and credentials as a successful clean energy developer. The value inherent in the Company’s unique position of clean energy power plants/projects pipeline (total potential power capacity: 550 - 1250 mega watts) is truly extraordinary, and the progress the Company has made through their 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. The breakthrough doubles the Company’s commitment to develop, construct and contribute to the clean energy industry in China, or/and worldwide, including wind energy, biomass clean energy and hydropower. The Company leverages deep China and wind energy markets experiencing the world’s largest and fastest power demand growth. The Company provides a competitive opportunity in China with the highest global standards, to its stockholders and investors who wish to participate in one of the world’s most dynamic and fastest growing clean energy industries in china, or/and worldwide.
About China Electric Design and Research Institute (Since 1951)
The China Electric Design and Research Institute (“CEI”) is a China National-Top Rank Grade AAA+ Engineering Firm and a comprehensive design and research organization with engineering consultation, engineering contractor and engineering cost consultation units issued by the State, China; CEI also owns a design license for all kinds of pressure vessels issued by the State, China; and business licenses for economic and technical cooperation with foreign firms issued by the State, China.
CEI’s fields of expertise include engineering consultation, project planning & design, project contracting and construction project management, both across China and abroad, in machinery, electric power, civil construction, municipal engineering, light industry, petrochemicals, environmental protection, materials, business, shipbuilding, automobiles, logistics and design for all kinds of vessels and pipelines. CEI also holds business licenses issued by the State, China, for economic and technical cooperation with foreign firms.
The institute is entitled to prepare and manage the national design standards for building electrical installations and the technical committee TC64, as well as building electrical installations. The Chinese national committee of the IEC is also based at the institute. CEI is partially in charge of the formulation of the national design code of electrical and machinery industries. CEI also undertakes or participates in the technical evaluation and justification of major national projects such as nuclear power plants, and hydropower units for the three Gorges Station, etc.
CEI is in possession of a powerful technical strength, with more than 200 technical professionals and various specialists, in which over 80 are senior engineers, including 8 state national grade AAA+ registered architectures, 23 state national grade AAA+ registered structural engineers, 11 registered consulting engineers and 9 registered engineering cost engineers. Contributions have been made in the planning, development and engineering execution in various industries and CEI has also completed many construction projects abroad, and earned a good reputation with domestic and overseas customers.
Since 1985, CEI has completed consultation, design and EPC for more than 1000 projects including nearly 100 joint-ventures (foreign-funded, World-Bank loans), contracted for 30 plus projects and developed 100 odd pieces of specialized equipment, production lines and transfer machines, including: the HuiZhou Garbage Heat Decompose Generate Electricity Project, Guangdong Province, (Capacity: 600 t/d); a 120 MW Coal-Layer Gas Generate Electricity Project for SiHe Bure of Jincheng, Shanxi Province, and Shuangyushu Heating Plant, Beijing ( Heating Capacity: 4 x 116 MW, Heating Area: 10,000,000 Square Meter); an Intelligent Control System Renovation project of The Mao ZeDong Memorial Hall in Tian-An-Men Square, Beijing; the Shanghai Science and Technology Center; the Scheduling Center Building of Electric Power in Jiangmen, Guangdong Province; the Technology Center of China Banknote Printing and Minting Corporation; and the Heavy Turbo-Generator Testing Facilities with 1000 MW level of Harbin Electric Machinery. It has established good cooperation relationships with various economic development regions for domestic and overseas customers.
About China Holdings, Inc.
China Holdings, Inc. (OTC Bulletin Board: CHHL), headquartered in the U.S., is a diversified global assets holding company. The Company and its subsidiaries engage in multiple China-focused business activities including energy, clean energy, resources, and utilities. The Company is developing its Clean Energy Power Plants in Biomass Waste to Energy, Wind Energy Power Plants & Hydropower Plants to reach the Total Potential Power Capacity from 550 MW to 3200 MW in 2013 Year. The Company aims to achieve long-term capital appreciation through investment in clean energy projects & properties, and entities with significant assets, productions, or 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/ .
For worldwide investors and media inquiries, please contact: Julianna Lu/The Chief Executive Officer, via email: general@chinaholding.net or/and julianna@chinaholding.net or Tel: +86-1370-133-1287 (china worldwide direct)
About China Power, Inc.
China Power Inc., a controlled subsidiary of China Holdings, Inc., headquartered in the U.S., 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 550 MW to 3200 MW in 2013. The Company’s advanced clean energy strategy & plan in biomass clean energy, wind energy power plants & hydropower plants 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.
Biomass Clean Energy in China
China’s energy development has serious resource constraints. Its current energy resources are primarily from diminishing domestic fossil fuels, but it is becoming increasingly dependant on expensive imported fuels, ecologically disastrous hydroelectricity and vulnerable and expensive nuclear energy. Therefore, one of the most urgent problems the Chinese Government faces is to build a safe, economic, clean and sustainable energy supply system, whilst solving the energy supply bottlenecks. Consequently, the Chinese Government is encouraging the use of alternative energy production with both incentives and privileges. One of the solutions is to develop Biomass clean energy. China is rich in agricultural and forestry waste materials such as straw, bush and quitch. By 2012 the total biomass generating capacity is expected to reach 300 million kilowatts and 1600 million kilowatts by 2020. Many areas have good conditions for developing biomass clean energy production. The government recognizes this and is aiming to establish biomass clean power plants not only in major grain-producing areas but also transform small coal-fired thermal power units into Biomass burning.
Chinese Government Laws -- Biomass Clean Energy
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.
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)
Ms. Julianna Lu, Chief Executive Officer
Tel: +86-1370-133-1287; +86-10-6586-4770
Fax: +86-10-6586-4790
Email: general@chinaholding.net and julianna@chinaholding.net
Web: http://www.chinaholding.net
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)
Mr. 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: general@chinaholding.net
