Greenworld Wind Supreme Power Co. Ltd.
Greenworld Wind Power Co.Ltd. : Greenworld Wind Power Provides Carbon Credit Revenue Estimates From Bulalacao Wind Power Project
Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous Greenworld Wind Power Provides Carbon Credit Revenue Estimates From Bulalacao Wind Power Project Toronto, Canada – February 15, 2012 – Greenworld Wind Power Co. Ltd. (Greenworld): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), has developed revenue projections from the sale of Certified Emission Reduction (carbon credits or CERs) produced by the 30MW Bulalacao wind power project it is developing through its minority interest in PhilCarbon Inc. These estimates indicate a potential net revenue stream to Greenworld totaling just under EUR8 million. Greenworld and PhilCarbon have signed a revenue sharing agreement in which Greenworld will finance the necessary verification process on behalf of PhilCarbon, as required by the Clean Development Mechanism (CDM) of the Kyoto Protocol. Carbonergy has been selected as the consulting firm responsible for the verification process of the project as required under terms of the Kyoto Protocol. Carbonergy, estimates that the project will generate just over 100,000 CERs annually. Under the terms of the revenue sharing agreement, PhilCarbon and Greenworld will share revenues on a 60% and 40% basis respectively, after accounting for consulting fees of 10% of gross proceeds to Carbonergy. Assuming the project is approved by the CDM, Greenworld will therefore receive a net benefit of 36% of total revenues generated from the sale of these credits for the first 21 years of operation. Based on an estimated value of EUR10 per CER, total revenue is expected to reach nearly EUR20,000,000.00 over the 21 year contract period, with Greenworld's net share of proceeds reaching nearly EUR8,000,000.00.
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