EX-10.23






Exhibit 10.23




SUPPLEMENTAL AGREEMENT




TO




POWER PURCHASE AND SALE CONTRACT




FOR




THE YEAR OF 2009




(Contract
Number: De Dian Gu Si -011) 


BINGLANGJIANG POWER STATION




June 2009




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Supplemental Agreement to the Power Purchase and SALE


Contract for the year of 2009




In order to establish a regulated power supply and utilization order and develop a healthy power
supply and utilization market, according to the installed capacity of the power stations, the
characteristics of the units, the power utilization load conditions of the year of 2009 and the
impact of financial crisis, on the basis of entering into the Power Purchase and Sale Contract
(General Provisions) by and between the power supplier and the consumer, the Power Purchaser and
the Power Seller have reached the following Supplemental Agreement (this “Agreement”) through
friendly consultation.




	I.	 	The Parties hereby determine that the annual contractual on-grid electricity
output for the year of 2009 is 120,000,000 kwh.






	 	1.	 	Considering the annual overhaul plan of the units and the regularity of power
supply and demand, the contractual on-grid electricity output allocated for each month
is set out as follows:





	 	 	 	 	 	 	 	 	 
	January:
	 	 	7,087,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	February:
	 	 	8,393,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	March:
	 	 	6,020,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	April:
	 	 	6,835,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	May:
	 	 	5,545,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	June:
	 	 	8,500,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	July:
	 	 	13,150,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	August:
	 	 	13,600,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	September:
	 	 	13,600,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	October:
	 	 	12,600,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	November:
	 	 	12,600,000	 	 	kwh;
	 
	 	 	 	 	 	 	 	 
	December:
	 	 	12,070,000	 	 	kwh.
	 
	 	 	 	 	 	 	 	 





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	 	2.	 	On-grid Tariff during Commercial Operation Period
	 
	 	 	 	Upon being approved by the competent price regulatory authority of the local government, the
on-grid tariff for the units of the Power Plant during the commercial operation period shall
be: RMB 0.22/kwh for the dry season from January to May, the tariff for the wet season from
June to October shall be implemented according to the document with the number of De Fa Gai Jia
[2009] No. 296, and the tariff for November to December shall be implemented according to the
document with the number of [2008] No. 611; in case of alteration of the tariff policy of the
government, the new policy shall be followed. The reactive compensation tariff shall be:
RMB 0.02/kwh.






	 	3.	 	Under the normal production condition of the silicon smelting enterprises of our prefecture,
the Power Purchaser shall ensure eighty five percent (85%) of the contractual electricity
output of the Power Station could be dispatched out. In case of abnormal production condition
of the silicon smelting enterprises of our prefecture, the dispatching shall be carried out on
the principle of the same proportion for the same installed capacity. The surplus electricity
output generated not in compliance with the dispatching instructions shall be deemed as
invalid electricity output and shall not be settled.
	 
	 	4.	 	In August of each year after having concluded the Power Purchase and Sale Contract, after
friendly consultations, the Parties may appropriately adjust the annual contractual on-grid
electricity output of that year and the contractual on-grid electricity output for the rest
months based on the actual situation of power supply and demand, and reach a written
agreement; prior to the end of November of each year, the Parties shall consult with each
other to determine the annual contractual on-grid electricity output for the next year, and
enter into a Power Purchase and




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	 	 	 	Sale Contract for the next year before the end of December.
	 
	 	5.	 	The Power Seller shall strictly comply with the dispatching instructions and
provide with the production and operation data upon the request of the Power Purchaser,
such as: the daily electricity output, the overhaul plan, etc.






	II.	 	Equivalent Available Factor
	 
	 	 	The condition precedent for the Power Purchaser to purchase from the Power Seller the
electricity output not less than the annual contractual on-grid electricity output as
prescribed in Article 4.1 is that: the planned equivalent available factor of the generator
units determined in accordance with the annual contractual on-grid electricity output of that
year shall reach 59% or above. In the event the actual equivalent available factor of
the generator units fails to reach the aforesaid requirement, the Power Purchaser shall be
entitled to reduce its annual contractual on-grid electricity output corresponding to the
deficient proportion of the equivalent available factor.






	III.	 	The valid term of this Agreement shall be from January 1, 2009 to December 31, 2009.





This Agreement shall have the same legal effect as the Power Purchase and Sale Contract. This
Agreement comprises four (4) pages, and shall be signed in four (4) counterparts. Each
Party shall hold one (1) , and two (2) counterparts shall be filed with the local
power regulatory authority for record.




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Power Purchaser: Yunnan Dehong Electric Power Co., Ltd.




               (Stamp)



Legal Representative:




Authorized Proxy:




Power Seller: Yunnan Huabang Electric Power Development Co., Ltd.




               (Stamp)



Legal Representative:




Authorized Proxy:




Signing Date: June 19, 2009 




Signing Place: Mangshi





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