Document:

Unassociated Document

    
      Exhibit
10.1

      Loan
Repayment Agreement

      

      Party A:
Shenzhen Zhaoheng Industrial Co., Ltd.

      Party B:
Hunan Zhaoheng Hydropower Co., Ltd.

      

      According
to the results of financial auditing, Party A owed Party B RMB244,745,383.74
(including amounts due to Party B from Hunan Jiuli Hydropower Construction Co.,
Ltd., a wholly owned subsidiary of Party A) as of December 31, 2007. The nature
of the debt was related party non-operating dispossession.

      

      To truly
reflect the operation results and financial situations of both parties and based
on the principles of fairness and independence, Party A and Party B reached the
following agreement:

      

      
        	
                1.

              	
                Party
      A agrees to repay the debt before December 2008.

              
	
                2.

              	
                Before
      the debt is fully repaid, Party A shall pay asset dispossession interests
      to Party B at 120% of 7.47%, the bench mark rate set by the People’s Bank
      of China.

              
	
                3.

              	
                Asset
      dispossession interests shall be settled on a quarterly basis and
      calculated on the basis of actual amount and number of days in arrears.
      Any outstanding interests shall be added up to the  principals
      for forthcoming interests
calculation.

              

      

      

      

      

      Party A
(seal): Shenzhen Zhaoheng Industrial Co., Ltd.

      Legal
Representative

      (signature):

      

      Party B
(sealed): Hunan Zhaoheng Hydropower Co., Ltd.

      Legal
Representative

      (signature):

      

      

      

      

      

      Signed:
January 31, 2008

       

       

       

       

       

      
        
           

        

        
          1Unassociated Document

    
      Exhibit
10.2

      Loan
Repayment Agreement

      

      Party A:
Shenzhen Zhaoheng Industrial Co., Ltd.

      Party B:
Hunan Sanjiang Electric Power Co., Ltd.

      

      According
to the results of financial auditing, Party A owed Party B RMB34,794,580.06 as
of December 31, 2007. The nature of the debt was related party non-operating
dispossession.

      

      To truly
reflect the operation results and financial situations of both parties and based
on the principles of fairness and independence, Party A and Party B reached the
following agreement:

      

      
        	
                1.

              	
                Party
      A agrees to repay the debt before December 2008.

              
	
                2.

              	
                Before
      the debt is fully repaid, Party A shall pay asset dispossession interests
      to Party B at 120% of 7.47%, the bench mark rate set by the People’s Bank
      of China.

              
	
                3.

              	
                Asset
      dispossession interests shall be settled on a quarterly basis and
      calculated on the basis of actual amount and number of days in arrears.
      Any outstanding interests shall be added up to the principals for
      forthcoming interests calculation.

              

      

      

      

      

      Party A
(seal): Shenzhen Zhaoheng Industrial Co., Ltd.

      Legal
Representative

      (signature):                                                      

      

      Party B
(sealed): Party B: Hunan Sanjiang Electric Power Co., Ltd.

      Legal
Representative

      (signature):

      

      

      

      

      Signed:
January 31,2008Unassociated Document

    
      Exhibit
10.9

      Baishadu
Hydropower Station Development Agreement

      (“this
Agreement”)

      

      Party A:
Shimen County Government of Hunan Province

      Legal
Address: Chujiang Town, Shimen County, Hunan Province

      Legal
Representative: Qiming Yang

      

      Party B:
Hunan Sanjiang Electric Power Co., Ltd.

                    
Hunan Zhaoheng Hydropower Co., Ltd.

      Legal
Address: No. 1 South Power Station Road, Chujiang Town, Shimen County, Hunan
Province

      Legal
Representative: Hong Zhu

      

      

      In
accordance with the relevant laws and regulations in "General Principles of
Civil Law", "Contract Law of PRC” ; the No. 29 [2003]"Opinions on accelerating
the development of hydropower in rural areas” from the General Office of the
Hunan Provincial  Government; and the policy of attracting investments
to Shimen County, the Shimen County Government (hereinafter referred to as Party
A) and Hunan Sanjiang Electric Power Co., Ltd., Hunan Zhaoheng Hydropower Co.,
Ltd. (hereinafter referred to as Party B, collectively) agree to the following
terms regarding the development of Baishadu Hydropower Station after amicable
negotiations.

      

      1.  The
Purpose of the Baishadu Project

      

      Adhering
to the principle of sustainable development, the purpose of the Baishadu project
(“the Project”) is to scientifically develop and utilize water resources in
Dieshui Basin to achieve the goals of flood control, ecology protection, clean
power generation, and economic development, with emphasis on flood control and
electric power generation. Party B will recover its investment from the sales of
electricity.

      

      2.
Project Development Right

      

      2.1 Party
A has agreed to grant project development right of Baishadu Hydropower Station
(“the development right”) to Party B. The construction site is within the
boundaries of the town of    Zao City in Shimen County,
Hunan Province. The specific location shall be subject to the approval of
relevant government agencies.

      

      2.2 The
development right takes effect as of the date on which Party B receives all
approvals from relevant government agencies. Party B shall commence the
construction in accordance with the construction schedule set forth in this
Agreement, otherwise, Party A may grant the development right to a third party
and not bear responsibility for any loss of Party B.

       

      3.
Project Execution

      Party B
shall execute the Project under an independent legal entity set up in Shimen
County. The independent accounting entity shall pay taxes in accordance with
relevant laws.

       

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
 

      4.
Construction Scale

      

      The
initial planned total installed capacity of the Project is 15,000KW, with total
investment of approximately RMB120 million (exact figure to be determined in
accordance with the project design and construction budget).

      

      5.
Hydropower Station Property Right and Land Use Right

      

      The
property right of Baishadu Hydropower Station (including auxiliary buildings and
equipment) belongs to Party B. In addition, Party B owns the land use right for
50 years from the date when the land use right contract is signed. After 50
years, the land use right shall be renewed in accordance with relevant
regulations.

      

      6.
Construction Land for the Project

      

      6.1 After
Party B receives approval of land requisition from provincial government, Party
A and its administrative departments shall complete land requisition and
demolition and provide Party B with construction land in accordance with
relevant laws, regulations and the project design requirements. Party B is
responsible for relevant costs during the process.

      

      6.2
During the project execution process, Party B shall use land based on the
principal of conservation. Exact land use area is subject to the approval of
land administrative department.

      

      7.
Construction Schedule

      

      Party B
shall commence construction of the main body within three (3) months from the
date when the Project, design, land requisition and construction, etc. are
approved by the relevant government agencies, use best efforts to complete the
Project and commence operation in accordance with the schedule set forth in the
project design plan. In the event that Party B does not commence the
construction within nine (9) months from the date when relevant approvals are
obtained and land requisition and demolition are completed, Party A may grant
the development right to a third party. Under these circumstances, Party B shall
transfer all construction and relevant documents to Party A without cost as
compensation for the Project delay.

      

      8. The
Project’s Feasibility Studies and Approval

      

      8.1 Party
B shall complete the Project’s feasibility studies and Party A shall not bear
any related cost and any risk associated with it.

      

      8.2 In
determining the final project plan (“the Plan”), Party B shall strictly adhere
to the plan and design implemented by authorities and consider the interests of
upstream and downstream hydropower stations. The Plan shall be based on the
principals of ecology protection, maximum water resource utilization and flood
control.

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
 

      

      8.3 Party
B shall employ qualified design and construction companies for the
Project.

      

      8.4
Relevant project approvals shall be obtained within one (1) year from the date
this Agreement is signed. Party B shall be responsible for obtaining the
relevant approvals with the assistance of Party A. If the Project is not
approved due to Party B’s default, Party A may terminate this Agreement and not
bear relevant losses. If the Project is not approved due to Party A’s default,
Party B may terminate this Agreement and claim from Party A for fees in relation
to approvals. If the Project is not approved due to state policy changes and
reasons of related administrative authorities, neither party shall be
responsible for the losses and the relevant administrative authorities shall
bear the losses.

      

      9.
Project Coordination

      

      Party A
designates Shimen County Small Hydropower Development Team and Zaoshi Town
Government of Shimen County as coordinators to facilitate the Project and assist
Party B to obtain project approvals, and complete land requisition, demolition,
compensation and other related approvals, etc. Both parties shall cooperate with
each other to ensure the smooth execution of the construction in accordance with
the design requirements.

      

      10.
Support Policies

      

      10.1 The
Project is one of the key investment projects to attract foreign investment in
Shimen County. The Project enjoys preferential tax treatment during the
construction and operation period. The preferential treatment may be stipulated
in government meeting minutes and implemented by the tax authority.

      

      10.2
Preferential policies not stipulated in this Agreement but required by Party B
shall be negotiated on a case-by-case basis by both parties and confirmed in
government meeting minutes.  Such government meeting minutes govern
the obligations of both parties and define the responsibilities of the
subordinate government agencies of Party A.

      

      11. Other
Rights and Obligations of Both Parties

      

      11.1
Party A’s Rights and Obligations

      

      11.1.1
Party A is responsible for creating a favorable construction and operating
environment; timely mediating environment related conflicts; promoting smooth
implementation of the Project; and safeguarding legitimate rights and interests
of Party B.

      

      11.1.2
Party A shall help Party B prepare relevant documents including feasibility
studies, project design, etc. for the purpose of project approval. All relevant
costs shall be assumed by Party B.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
 

      11.1.3
Party A shall help Party B receive construction land use certificate. All
relevant costs shall be assumed by Party B.

      

      11.1.4
Party A shall attend panel meetings for project feasibility studies and project
design plan.

      

      11.1.5
Party A shall help Party B complete all preparation work before the commencement
of the construction. All relevant costs shall be assumed by Party
B.

      

      11.1.6
Party A shall issue meeting minutes to its subordinate departments in a timely
manner to ensure that Party A’s obligations are fulfilled.

      

      11.2.
Rights and Obligations of Party B

      

      11.2.1
Party B shall be responsible for initial preparation work, project tendering and
construction, and assume all relevant fees including RMB2.48 million paid to
Boyuan Company for initial preparation works.

      

      11.2.2
The design and implementation of the Project shall be in accordance with
relevant regulations regarding planning requirements, flood control and safety
standards from hydropower administration. In addition, it shall meets the
requirement for free passage of local residents and tractors with carrying
capacity of no more than one ton (including one ton).

      

      11.2.3
After the Project is completed, Party B can transfer the property right and
operating rights to a third party so long as the transferee is a legal entity
registered in Shimen County.

      

      11.2.4
Party B shall be responsible for project financing to ensure the timely
commencement and completion of the Project according to the Plan.

      

      11.2.5
Party B shall be responsible for and assume all relevant costs of obtaining
approvals on project review, design, on-grid tariff, land use and water use,
etc.

      

      11.2.6
Party B shall ensure construction quality and meet strict quality
standards.

      

      11.2.7
Party B shall comply with state laws and regulations and protect ecological
environment during the construction and operation periods.

      

      11.2.8
Party B shall comply with relevant safety laws and regulations, accept
supervision and inspection from relevant government agencies, and timely
implement safety improvement measures.

      

      11.2.9
Party B shall strengthen the management of blasting materials and blasting site
in accordance with safety norms and procedures to ensure operation safety.
Furthermore, Party B shall be responsible for the consequences of all safety
related accidents.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      
 

      11.2.10
Party B shall not transfer or sell the development right of the Project to a
third party.

      

      12
Liabilities for Breach of this Agreement

      

      12.1 The
Agreement is automatically terminated if Party B transfers or sells the
development right of the Project to a third party. Furthermore, Party B shall be
liable for Party A’s economic losses due to its breach of the
Agreement.

      

      12.2 In
the event that the Project is not put into operation two (2) years beyond the
schedule set forth in the project design plan, Party A may recover the
development right and land use right from Party B without any
compensation.

      

      12.3 In
case that the Project is not commenced or completed due to Party A’s default,
Party A shall bear all economic losses of Party B.

      

      12.4 In
the event that neither party fulfills its obligations due to force majeure or
state or provincial policy change, both parties are exempted from the
liabilities of all damages caused by the breach of this Agreement.

      

      13.
Dispute Settlement

      

      13.1
During the project preparation and construction period, Party A and Party B may
sign a  supplemental agreement as appendix to this Agreement if there
are other issues not covered in this Agreement. The supplemental agreement has
the same legal effect as this Agreement (and may be submitted to departments in
the form of government meeting minutes).

      

      13.2 Both
parties shall try to settle any dispute through amicable negotiations. If no
agreement can be reached, either party may submit the case to the local court
where this Agreement is executed.

      

      14.
Signing and Effectiveness of This Agreement

      

      14.1 This
Agreement is in 4 copies, Party A and Party B each will keep two
copies.

      

      14.2 This
Agreement becomes effective after being signed and sealed by both
parties.

      

      

      

      

      
        	
                Party
      A (seal):

              	
                Party
      B (sealed):

              
	 
      	 
      
	
                Legal
      Representative

              	
                Legal
      Representative

              
	
                (signature):

              	
                (signature):

              

      

      

      Signed:
December 3, 2008

       

       

      
        
           

        

        
          5

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