DGAP-News: AsiaPac Capital Services to Benefit From Feed-in Tariffs to National Power Grid
(firmenpresse) - Asiapac Capital Services Inc. / Development of Sales
21.04.2010 16:25
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Toronto, Canada - (For immediate release) - April 21, 2010
AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www
.asiapaccapital.ca), has been advised by its mini-hydro project consultant
that the Philippine government is planning to establish a higher feed-in
tariff rate for mini-hydro projects. Recent projects have paid private
operators in the range of Php 4.50 per kW-h (kilowatt hour), but it is now
anticipated that the Company's mini-hydro projects will benefit from a
feed-in tariff in the range of Php 6.00 per kW-h.
In January 2010, the Philippine Department of Energy (DOE) and the National
Renewable Energy Board (NREB) and in consultation with the Renewable Energy
(RE) Alliance, conducted a three day seminar to review the recently passed
legislation related to renewable energy, R.A. 9513.
With the recent passage last year (2009) of the Philippine Renewable Energy
Law (R.A. 9513) and its Implementing Rules and Regulations (DC
2009-05-0008), a Feed-In Tariff mechanism has to be established in the
country within a year (February 2010). In particular, a feed-in tariff
scheme which provides an obligation to the power industry to source RE
generation at a guaranteed fixed price over a period of time, which should
not be less than a period of 12 years (15 years perERC), to be determined
by the Energy Regulatory Commission (ERC).
Company President, Mr. Samuel Lee, advises; 'Our consultants believe that
the new tariffs will be established within sufficient time for our
mini-hydro projects to benefit from the new feed-in tariff regime.
Essentially, the government is acknowledging that it must guarantee a
reasonable ROI for these vital projects, as the country continues to strive
to reduce its reliance on imported oil. These new tariffs have the
potential to increase our ROI significantly, with rates one third higher
than our initial assumptions when we applied for the permits.'
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of AsiaPac Capital Services 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
AsiaPac Capital Services Ltd.'s actual results to differ materially from
those anticipated. AsiaPac Capital Services Ltd. cautions the reader not to
place undue reliance upon any such forward-looking statements. These
forward-looking statements involve known and unknown risks aswell 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 AsiaPac
Capital Services Ltd. operates. The actual results that AsiaPac Capital
Services 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. AsiaPac Capital Services 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:
AsiaPac Capital Services Ltd.
Suite 3500
Hudson Bay Center
No. 2 Bloor Street East
Toronto ON
M4W 1A8
Email: info(at)asiapaccapital.ca
21.04.2010 16:25 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 21.04.2010 - 16:25 Uhr
Sprache: Deutsch
News-ID 19436
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 227 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: AsiaPac Capital Services to Benefit From Feed-in Tariffs to National Power Grid"
steht unter der journalistisch-redaktionellen Verantwortung von
Asiapac Capital Services Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
