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China Holdings to Build Biomass Plant

March 12, 2008 | 1 Comment

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Bejing, China [RenewableEnergyWorld.com] China Holdings, Inc. announced that it has executed its fourth development contract for the exclusive right to develop and construct a biomass energy plant with a capacity of 50 megawatts (MW).

The construction of the plant is estimated to take approximately two years. In addition, Ongniute has agreed to ensure that the plant is not subject to income taxes for its first three years of operation and then subject to a tax rate of no more than 12.5% for the following three years.

The agreement was made by China Holdings through its China Power subsidiary with the Government of Ongniute County in Inner Mongolia. This deal brings the company's total of projects under development to 270 MW in including four 50-MW bioenergy plants and a hydropower project of approximately 70 MW.

The Ongniute government will secure all necessary government approvals and ensure the supply of all required utilities for the two new bio energy plants and China Power will be responsible for obtaining all required financing for the plant and operating the plant with the most advanced technology available. The construction of the plant is estimated to take approximately two years. In addition, the Ongniute government has agreed to ensure that the plant is not subject to income taxes for its first three years of operation and then subject to a tax rate of no more than 12.5 percent for the following three years.

Bioenergy, Hydropower

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jeroen-huisman-74380

March 15, 2008

biomass? china is known for its few forests and this is a big problem. the biomass industry can obtain material everywhere, from green household waste, rainforest wood to vegetable oils. china is known for its strong development-ties to africa and indonesia, with local rulers, who are not exactly ''the best you can get''. this is an ongoing strategy. ''control'' is a severe shortcoming. just like shell and other companies act for many decades now. biomass is only sustainable within very clear boundaries; material from local green waste or sustainable operated forests, which EXCLUDE rainforests and its products from africa, indonesia, maleisia, south america and canada. lets invest in real sustainable techniques like solar energy and the like. what we really need are different revolutionary ways of saving electricity and the possibility to get electro-power into new kind of batteries and/or hydrogen, really cheap.

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