DGAP-News: Greenworld Wind Power Advises PhilCarbon Inc. Projects Under Review for Carbon Credits Program
(firmenpresse) - DGAP-News: Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous
Greenworld Wind Power Advises PhilCarbon Inc. Projects Under Review
for Carbon Credits Program
01.08.2011 / 12:00
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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.
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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133876 01.08.2011
Datum: 01.08.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 40056
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