Greenworld Wind Supreme Power Co. Ltd.
Greenworld Wind Power Advises PhilCarbon Inc. Projects Under Review for Carbon Credits Program
Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous Greenworld Wind Power Advises PhilCarbon Inc. Projects Under Review for Carbon Credits Program Toronto, Canada – (For immediate release) – August 1, 2011 Greenworld Wind Power Co. Ltd. (Greenworld Wind): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), advised today that PhilCarbon Inc., in which it has a 40% interest, will be working with Carbonergy BCS to include it's two wind power projects in Carbonergy's Clean Development Mechanism (CDM) Programme of Activities (PoA) for this sector. The CDM allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol. PhilCarbon Inc. and Carbonergy BCS have been collaborating on energy projects in the Philippines since 2009 and have just added wind power to their current portfolio of joint efforts. PhilCarbon currently has two wind projects in the planning stages; a 30MW project in Bulalcao in Oriental Mindoro, and a second 15MW project in Sagada, Mountain Province. Plans call for PhilCarbon to register these two projects as separate corporations in anticipation of their inclusion in the Carbonergy PoA. The 'Philippine Wind PoA' aims to facilitate the development of a number of small and large scale wind power projects in the country. It will be a platform to help developers overcome some of the barriers they are encountering by harnessing financial flows from the sale of carbon credits. As of June 2011, 667 wind power projects have been registered under the CDM with an expected yearly delivery of 67 million CERs. The Philippines has only one project registered to date, the NorthWind Bangui Bay Project in northern Luzon that has had one issuance of 65,000 Certified Emission Reduction (CER) credits. Disclaimer & Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respect to certain of Greenworld Wind Power Co. Ltd.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause Greenworld Wind Power Co. Ltd.'s actual results to differ materially from those anticipated. Greenworld Wind Power Co. Ltd. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which Greenworld Wind Power Co. Ltd. operates. The actual results that Greenworld Wind Power Co. Ltd. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. Greenworld Wind Power Co. Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.
Greenworld Wind Power Co. Ltd. Email: info@ greenworldpower.ca End of Corporate News 01.08.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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