DGAP-News: Greenworld Wind Power Co.Ltd. : Greenworld Wind Power Provides Carbon Credit Revenue Estimates From Bulalacao Wind Power Project
(firmenpresse) - DGAP-News: Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous
Greenworld Wind Power Co.Ltd. : Greenworld Wind Power Provides Carbon
Credit Revenue Estimates From Bulalacao Wind Power Project
15.02.2012 / 09:00
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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.
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.
For further information please contact:
Greenworld Wind Power Co. Ltd.
100 Consillium Place
Suite 200
Scarborough, ON
M1H 3E3
Email: info(at) greenworldpower.ca
End of Corporate News
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