DGAP-News: AsiaPac Capital Services Initiates Pre-Development Process of Mini-Hydro Plant in Philippines
(firmenpresse) - Asiapac Capital Services Inc. / Product Launch
19.03.2010 18:47
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Toronto, Canada - (For immediate release) - March 19, 2010
AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www
.asiapaccapital.ca), has begun the submission process with the Renewable
Energy Management Bureau (REMB) of the Philippine Department of Energy to
build an approximately 4 Megawatt hydro station on the Talubin River
located in Sagada, Mountain Province. This application hasbeen initiated
by the Company's renewable energy subsidiary; AsiaPac Green Renewable
Energy Corp.
The Company has retained the services of Vergel 3 Consult of Quezon City as
the principal consultant and engineer to provide the feasibility study and
detailed engineering design work for the project.The 4 megawatt hydro station capacity is based on a preliminary hydrologic
study by Vergel 3 Consult, and will be finally determined based on the
results of a comprehensive feasibility study.
Company President, Mr. Samuel Lee, advises; 'This is one of several hydro
projects that we intend to develop. At this point, there is still
additional paperwork and financial undertakings before we will receive
official approval for the project, but we are confident that we can meet
all of the remaining requirements of the REMB to get a green light for the
project.
Hydro power is one of the keystone areas in our renewable energy division,
that also encompasses our previously announced Jatropha plantation for the
generation of biodiesel. We are also looking at solar and wind power
projects in the Philippines.
It is important to note that there are many government incentives to
initiate renewable energy projects in the Philippines, as the government is
very desirous of reducing its reliance on imported oil and gas products. We
believe we are well positioned to move forward with these projects under a
favorable investment climate.'
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 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 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.
557A Eglinton Ave West,
Toronto, Canada M5N 1B5
Phone: 1-416-800-2080
Email: info(at)asiapaccapital.ca
19.03.2010 18:47 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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Datum: 19.03.2010 - 13:47 Uhr
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