Power Capacity: 298.8 Mega Watts (6 x 49.8 MW), with Potential of 996 Mega Watts (20 x 49.8 MW)
BEIJING and LAS VEGAS, Sept. 5 /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, utilities, and finance, today announced the Company, and its controlled subsidiary: China Power, Inc. (together as “The Company”) have executed a three(3) year development, investment and construction contract (“the Contract”) of Inner Mongolia Ontniute Wind Energy Power Plants/Projects (Power Capacity: 298.8 mega watts (6 x 49.8 MW)), with 100% exclusive and first rights, with local Ontniute government, Inner Mongolia, PR China (“Ontniute”) legally mutually.
The Breakthrough confirms the Company’s honorable commitment to develop, construct and contribute to China’s clean energy industry, including wind energy, biomass energy and hydropower. The development brings the Company’s Clean Energy Power Plants/Projects Pipeline: Total Potential Power Capacity up to 548.8 Mega Watts in the processing of development, pre-construction, and construction:
1). 250 Mega Watts: 5 Biomass Clean Energy Power Plants/Projects (5 x 50
MW)
2). 298.8 Mega Watts: 6 Wind Energy Power Plants/Projects (6 x 49.8 MW)
The value inherent in the Company’s unique position of Clean Energy Power Plants/Projects Pipeline (Potential Power Capacity: 548.8 mega watts) is truly extraordinary, and the progress the Company has made on our 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”, “Ontniute” local government agreed to grant the Company with:
-- The 100% exclusive and first rights of investment and construction
-- The Inner Mongolia Ontniute Wind Energy Power Plants/Projects Scales
are:
-- Potential total power capacity: 298.8 Mega Watts (6 x 49.8 MW)
-- Provide with the project site/land: 200 square km for the wind
energy plants in defined areas in Ontinue Inner Mongolia, PR China
-- With potential 2nd phase development of the wind energy power plants
capacity up to: 996 Mega Watts (= 20 x 49.8 MW)
-- Ontniute will be responsible to support/coordination with government
departments for related legal processing
-- As stated in amended China renewable energy laws to wind energy
producers and developers: electricity power price of 0.50-0.55 Yuan
Per/Kwh, & guarantee from state grids confirm 100% purchase of the
electricity power from wind energy producers and developers
-- Specifically pursuant to “the Contract”, the Company has agreed with
“Ontniute”:
-- Fully committed to successfully develop, and invest and construct
the Inner Mongolia Ontniute Wind Energy Power Plants/Projects (Power
Capacity: 298.8 Mega Watts = 6 x 49.8 MW) in the next three (3)
years
-- Total investment of 2.7 billion Yuan (RMB) will be 35% cash/equity \
investment, and 65% bank loan
-- Responsible for all/further PR government’s legal processing,
construction approval and compliances; conducting wind energy
data/resources collection, research and investigation in next 3 to 6
months, and further development of construction in the next 3 years.
The Company’s board and management have also doubled the commitment to the Company’s Stockholders to:
-- Speed up the progress of the IPO, upgrading the Company onto NASDAQ,
and AIM/London Stock Exchange, and TSX (Toronto Stock Exchange)
-- Speed up the progress/development of substantial corporate financings,
and partnerships with global private equity funds, and structure
investments to optimize returns of the Company’s global investors,
stockholders and investments. Develop and maximize the stockholders
values on a long-term basis
-- Speed up the progress/development of the Company’s goal of building
clean energy power plants in wind energy plants, biomass energy plants,
and hydropower capacity to 3,200 megawatts over the next five years,
approximately
-- An update on the Company’s Board of Directors, management, and Advisor
Board with global reputation and achievement. Efficiently/Effectively
manage all Company’s clean energy projects, constructions, and
operations with local and international professionals and experts
About China Holdings, Inc.
China Holdings, Inc. (OTCBB: 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, clean energy, resources, utilities, and finance. The Company is developing its Clean Energy Power Plants in Biomass Clean Energy Power Plants & Hydropower Plants to reach the Total Potential Power Capacity from 550 MW to 3200 MW in 2013 Year. 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 .
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 Plants and Hydropower Plants to reach the Total Potential Power Capacity 3200 MW by the year 2013. The Company’s Advanced Clean Energy Strategy & Plan in Hydropower Plants and Biomass Clean Energy Power Plants 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 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: info@chinaholding.net; lujulianna@yahoo.com
Web: http://www.chinaholding.net
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： jimhsimpson@earthlink.net
