Greenworld Wind Supreme Power Reports Bulalacao Wind Power Corp. Retains Consultant for Carbon Credits
TÜV SÜD Industrie Service GmbH to Validate Project in Accordance with U.N. Clean Development Mechanism
Road Town, Tortola, British Virgin Islands – (For immediate release) – Sept 20, 2012
Greenworld Wind Supreme Power Co. Ltd. (Greenworld Wind), Deutsche Börse symbol: GW9, (www.greenworldwind.ca), is pleased to report that Bulalacao Wind Power Corp., in which it has a 40% stake, has retained Germany based TÜV SÜD Industrie Service GmbH to provide validation services to qualify the Company’s Bulalacao Wind Farm for Certified Emissions Reductions (CERs), commonly referred to as carbon credits.
The validation process ensures that any given project meets the criteria established by the U.N.’s Clean Development Mechanism (CDM) to quantify and verify the reduction in greenhouse gases that will be achieved. This process establishes a baseline of greenhouse gas emissions that would have been generated without the project, versus the savings that will be generated upon completion of the project. The established number of carbon credits validated can then be sold on international markets, creating a secondary revenue stream from the given project.
TÜV SÜD, based in Germany, has successfully validated more than 720 CDM projects and more than 450 CDM verifications completed by the Company resulted in the issuance of CERs.
The validation process involves a preliminary analysis of the documentation, which is then followed up by onsite inspection and interviews with relevant personnel. Ultimately, a draft validation report is prepared, which also identifies all of the Corrective Action Requests that must be undertaken before a final validation report can be issued. A positive validation report will then result in a submission to the CDM Executive Board, which ultimately results in the issuance of CERs to the project participants.
The 30MW Bulalacao Wind Farm will sell power to the Oriental Mindoro Electric Cooperative (ORMECO), and feed into the regional electrical grid. From there, the power generated by the Company can help meet the electrical demands of the entire Mindoro Province.
Disclaimer & Safe Harbor Statement:
This release may contain certain "forward-looking statements" with respect to certain of Greenworld Wind Supreme 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 Supreme 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 Supreme Power Co. Ltd. operates. The actual results that Greenworld Wind Supreme 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 Supreme 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 Supreme Power Co. Ltd.
ABM Chambers
P.O. Box 2283
Road Town, Tortola
British Virgin Islands
Email: info@greenworldpower.ca
Quelle: greenworldpower.ca/newsDetails.php?grId=97
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