• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

China Holdings, Inc. Announces Biomass Renewable Energy Project: Potential Power Capacity: 50MW

Posted on: Monday, 15 October 2007, 12:00 CDT

LAS VEGAS, Oct. 15 /Xinhua-PRNewswire-FirstCall/ -- China Holdings, Inc. (BULLETIN BOARD: CHHL) , a global diversified assets holdings company, and its subsidiaries engage in multiple China-focused business activities including pharmaceutical, real estate, utilities, energy, renewable energy and finance, announced today the Company has signed a development contract for the RIGHTS to develop and construct the Biomass Renewable Energy Projects (Power Capacity: 50MW) through its controlled subsidiary ''China Power, Inc.'' with the local government in HeBei Province, the People's Republic of China.

The BIOMASS ENERGY PROJECTS (Power Capacity: 50MW) are with the total expected annual power generating capacity are 400 million kilowatt hours (kWh) and expected annual revenues of approximately 250 million Yuan, and expected annual net income (45% of Revenue) of approximately 112.5 million Yuan based on 8,000 annual operation hours, and the electricity sale price is RMB 0.60Yuan/kWh (approximately USD $0.080/kWh) with Government Policy Protection for the implement purchase electricity price for biomass renewable energy, and in addition, there is a supervision system to ensure full purchase and payment. The Total investment for this Biomass Renewable Energy Projects (Power Capacity: 50MW) is approximately RMB580 million Yuan: 35% in cash investment and 65% will be china-based bank loans with preferred interest rates with government policy protection for the Biomass Renewable Energy Projects. The Biomass Renewable Energy Projects will be expected to be in full production in approximately 2 years.

All resources needed to develop/construct the 50MW Biomass Renewable Energy Projects have been prepared and secured and/or will be secured, such as 215 mu of land (1 mu = 667 square meters), power supplies, water supplies and straw supplies, and Advanced Technology (CAPS-II pyrolysis system, the leading technologies of biomass energy systems around the world), Efficient Combustion Resulting in Clean Emission (CAPS-II pyrolysis system is environmentally friendly and economically profitable, in disposing agriculture waste), and Modular Design Maximizing Flexibility etc.

The Company is developing and building up its RENEWABLE ENERGY PROJECTS & PIPELINE in Hydropower Plants and Biomass Energy Projects, and to reach a total Renewable Energy Potential Power Capacity from 150,000 KW to 1,000,000 KW (kilowatt) annually in the next 1-4 years via Merger & Acquisitions (M&A), Joint-Venture Partnerships with Biomass Projects & Hydropower Plants and companies in China, or/and worldwide. The development & strategy for Advanced Biomass Renewable Energy Projects have enhanced the NEW DIMENSION to THE COMPANY'S RENEWABLE ENERGY DEVELOPMENT STRATEGY & PLAN, the HYDROPOWER PROJECTS, as well as development of Biomass Renewable Energy Projects in China, and/or worldwide.

The Company's Advanced Renewable Energy Strategy & Plan in Hydropower Plants and Biomass Energy Projects will enhance the technical, social, and environmental benefits of hydropower and provide investment and business activities in the cost-competitive hydropower capacity energy supply in China and worldwide, and also increase its worldwide shareholders values 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 via website: http://www.chinaholding.net/

About China Holdings, Inc. (NASD OTCBB: CHHL)

China Holdings, Inc. (NASD OTCBB: CHHL) is a development stage company with the goal of becoming a diversified global assets holding company. The Company and its subsidiaries engage in multiple China-focused business activities including pharmaceutical, real estate, utilities, energy and finance. 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 two wholly-owned subsidiaries: (i) China Power, Inc., and (ii) 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 development stage company with the goal of becoming a global leading energy holding corporation, that focuses on the Merger & Acquisition, investment, Research & Development, construction and operation of energy, and renewable energy, and environment protection projects in China and worldwide.

About Biomass Renewable Energy

Biomass Renewable Energy: STRAW TO ENERGY. Straw is renewable energy and is a part of nature plant, its inside carbon can change to organic carbon through absorbing the 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 developing and constructing of renewable energy project is protected by The Renewable Energy Law forced on January 1, 2006 by the People Congress of China. The Chinese central government has set a series of tax exemption/deduction regulations to encourage the construction of renewable energy project. The National Reform and Develop Committee implements the purchase electricity price for renewable energy. It ensures the standard purchase electricity price is 0.25Yuan/KWH addition base on the local average grid connection price(0.25-0.44 Yuan/KWH). In addition, there is supervision system to ensure full purchase and payment. Environment Benefits: Official statistic information from the Ministry of Agriculture in May 2005 shows that the annual production of straw in China is about 650 million tons. Studies done by international energy organizations show that crop straw is a type of clean renewable energy resource. Normally the heating value of crop straw is about 15MJ/kg. Crop straw is the fourth energy resource after coal, petroleum and natural gas. Many developed countries have already used straw as raw material to generate energy. Each year China produces about 650 million tons of crop straw, which has the same energy content as 268 million tons of regular coal, about 13.7% of China coal production in 2004. By the year 2010, China will have had discarded 350-370 million tons of straw. If used to generate electrical power, it is equivalent to a 90 million KW generator running 5000 hours per year and generating 450,000 million KWH of electricity. This in return will gear the development of a greener economy and a greater sustainable economic development of China. Economic Benefits: Biomass Renewable Energy Project: take 1040TPD as a sample, the average annual electricity sales revenue of a STE project is 232 million Yuan RMB, the average annual net profit is 100 million Yuan RMB, and the average net profit rate is 43%. The economic benefit is very PROFOUND. In addition, based on the most updated data from the China CDM Information Centre, the guiding price of CO2 is 51.21 RMB/ton. Recently, considering that 0.95kg of CO2 will be discharged when 1 KWH of electrical power is generated by using mineral fuel, each 4X260TPD STE plant is estimated to have 3.31 million tons of CO2 reductions during its 10 years CO2 reduction salable of operation. With a price of 51.21 RMB/ton, the 1040TPD project can have an additional income of about 170 million RMB, which is 17 million RMB per year. For the 780TPD project, the CO2 reduction is 2.48 million tons over 10 years. With a price of 51.21 RMB/ton, there will be 127 million RMB in income, which is 12.7 million RMB per year. According to China Energy Research Institute's 2006 update report, China's Biomass Energy implementation and development has reached its power capacity for 2GW in 2005. China Biomass Energy Capacity will reach a total of 5GW in 2010, and 30 GW in 2020.

For worldwide investor and media inquiries, please contact: China Holdings, Inc. ( NASD OTCBB: CHHL) Las Vegas and Beijing James H. Simpson Senior Vice President /Investors Relation And Julianna Lu Chief Executive Officer Tel: +86-10-6586-4770 (China) Fax: +86-10-6586-4790 Mobile: +86-1370-133-1287 (China) Email: lujulianna@yahoo.com, and/or info@chinaholding.net Website: http://www.chinaholding.net/

Safe Harbor Statement: To the extent that statements in the press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, 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. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. 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; 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.

China Holdings, Inc.

CONTACT: James H. Simpson Senior Vice President /Investors Relation andJulianna Lu, Chief Executive Officer, +86-10-6586-4770 (China), or fax, +86-10-6586-4790, or mobile, +86-1370-133-1287 (China), or lujulianna@yahoo.com,and/or info@chinaholding.net

Web Site: http://www.chinaholding.net/

Source: PRNewswire

More News in this Category