China Holdings, Inc and subsidiary China Power, Inc. have executed a three year, Y2.7 bil development, and investment and construction contract of Inner Mongolia Ontniute Wind Energy Power Plants/Projects of 298.8 mega watts capacity with local Ontniute government, Inner Mongolia, PR China (''Ontniute'') legally mutually.

The company states that this deal honours its "commitment to develop, construct and contribute to China's clean energy industry, including wind energy, biomass energy and hydropower". The development brings the total potential power capacity of all its projects to 298.8 mega watts, 250 of these being biomass with the remaining 6 projects in the wind energy field.

The company says this capacity "signals the ability to capitalize on the underlying potential of clean energy power plants & industry in China, and worldwide. The Ontnite local government will provide a 200 sqkm site and 100 percent exclusive and first rights of investment and construction. Ontniute will be responsible to support/coordination with government and as stated in amended China renewable energy laws for wind energy producers and developers, the government guarantees 100 percent purchase of the grid power at a rate of 0.50-0.55 Yuan Per/Kwh.

The company will invest 35 percent and the remaining 65 percent will come from financing. Management and directors of the company also plan to raise funds through initial public offering and "upgrading the Company onto NASDAQ, and AIM/London Stock Exchange, and TSX (Toronto Stock Exchange)", they also plan to speed up the progress/development of substantial corporate financings, and partnerships with global private equity funds, and structure investments. Their goal is to increase clean energy power plants to 3,200 megawatts over the next five years, "approximately". RFP

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