EMISSION REDUCTION PURCHASE AGREEMENT (ERPA)

Emission Reduction Purchase Agreement                                                                                                                                       Page 1 of 12

Exhibit 10.9

EMISSION REDUCTION PURCHASE AGREEMENT
(ERPA)

between

(the "Purchaser")

ECOLOCAP SOLUTIONS (CANADA) INC., (ECOLOCAP)

000 Xx Xxxxxxx xxxxx 000
Xxxxxxxx, Xx X0X0X0
Xxxxxx
Tel : 0000000000
Fax: 0000000000
Email: xxxxxxxxxxx@xxxxxxxx.xxx

President-CEO : Dr. Tri xx Xxxxxx

and

(the " XXXX XXXXX 10MW FIRED RICE HUSK POWER PLANT- CDM Project
Proponent”)., henceforth “VIETNAM PROJECT PROPONENT”

Owner: TAN XXXX XXXX ELECTRICITY CONSTRUCTION JOINT-STOCK COMPANY, VIET
NAM (THP.CORP)

Address: 52 Xxxx Xxxxx Cung St, Xxx Xxxxx Xxxx Xxxx, Xxxxxxxx Xx 0, Xx Xxx Xxxx Xxxx
Telephone: + 84.8. 0000000
Fax : +84.8. 0000000
Email: xxxxxx@xxxxxxx.xxx.xx

General Director: Xx. Xxxxxx Van Long

Interpretation and Definitions

In this Agreement, unless otherwise required by the context, all capitalized terms shall have the meaning set forth in the definitions below.

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                            Page 2 of 12
Additional	Means any Certified Emission Reduction (CER) generated by the Project
Emission	that is in excess of [50,000] Certified Emission Reductions (CERs) per
Reduction:	annum.
Agreement:	Means this Emission Reduction Purchase Agreement.
Annex B Countries:	Means the countries listed in Annex B to the Kyoto Protocol having
	committed themselves to reduce or limit their GHG emissions.
Annex I Countries:	Means the parties to the UNFCCC listed in Annex I thereto (Annex I
	consists of industrial countries and countries in transition).
Anticipated	Means up to [50,000] Certified Emission Reductions (CERs) per annum
Emission	during the Crediting Period, anticipated to be generated by the Project
Reduction:	and calculated in accordance with the Kyoto Rules.
Baseline:	Means the scenario that reasonably represents the anthropogenic
	emissions of GHG that would occur in the Host Country in the absence of
	the Project, determined in accordance with the Kyoto Rules.
Business Day:	Means a day on which banks are open for general business in Vietnam.
Carbon Dioxide	Means a metric measure used to compare the emissions of various GHG
Equivalent:	based upon their global warming potential.
Certification:	Means the written confirmation by an Operational Entity of an Emission
	Reduction resulting from a CDM project and having passed the
Verification procedure according to the Kyoto Rules.
Certified Emission	Means a unit of Emission Reduction issued pursuant to Article 12 of the
Reduction (CER):	Kyoto Protocol and the requirements of the Kyoto Rules (including
	Certification), equal to one metric ton of Carbon Dioxide Equivalent
	resulting from a CDM project.
Clean Development	Means the flexible mechanism established by Article 12 of the Kyoto
Mechanism (CDM) :	Protocol providing for Annex I Countries to implement projects that reduce
	emissions in non-Annex I Countries in return for CERs and assist the non-
	Annex I Countries in achieving sustainable development and contributing
	to the ultimate objective of the UNFCCC.
Crediting Period:	Means, until December 31, 2026.
Emission	Means reduction in emission of GHG achieved, calculated in accordance
Reduction:	with the Kyoto Rules.
Executive Board:	Means the international authority elected by the representatives of the
	parties to the Kyoto Protocol responsible for monitoring the CDM process.
First Commitment	Means …June 2008 until December 31, 2019.
Period:
Force Majeure:	Means any circumstance or condition beyond the control of either party to
	this Agreement affecting the performance of its obligations under this
	Agreement including in particular wars, insurrection, natural disaster or
	equivalent circumstances.
Greenhouse Gases	Means the six gases listed in Annex A to the Kyoto Protocol.
(GHG):
Host Country:	Vietnam

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                    Page 3 of 12
Kyoto Protocol:	Means the protocol to the UNFCCC adopted at the third conference of the
	parties to the UNFCCC in Kyoto, Japan, on December 11, 1997.
Kyoto Rules:	Means the UNFCCC, Kyoto Protocol, the Bonn agreement, the
	Marrakesh Accords, any relevant decisions, guidelines, modalities and
	procedures made pursuant to them and/or any succeeding international
	agreements as amended and/or supplemented from time to time and
	which include those rules specifically required to be met for the issuing
	and transfer of CERs.
Letter of Approval	Means a binding approval of the Project by the Host Country together with
(LOA):	an approval of the transfer of CERs.
Monitoring Report:	Means an annual report to be provided by Owner setting out the total
	number of Emission Reductions generated by the Project during the
	previous year according to the Kyoto Rules, international Monitoring rules
	and the PDD.
Monitoring:	Means the collection and record of data allowing the assessment of
	reductions in GHG emissions resulting from the Project conducted in
	accordance with the Kyoto Rules.
Operational Entity:	Means an independent entity accredited by the Executive Board being the
	executive body for CDM and inter alias responsible for determining
	whether a project and the resulting Emission Reductions meet the
	requirements of Article 12 of the Kyoto Protocol.
Project Design	Means a detailed description of the Project to be submitted for Validation
Document (PDD):	prepared in accordance with the Kyoto Rules, the UFG and the Directive
	and attached as Annex III. The Purchaser will be responsible for providing
PDD development for Registration of the Project.
Project:	Means the proposed CDM project described in the PDD and other
	documents describing the implementation and economics of the Project
	attached in Annex IV.
Registration:	Means the official registration of a CDM project by the Executive Board
	according to the Kyoto Rules.
UNFCCC:	Means the United Nations Framework Convention on Climate Change
	adopted in New York on May 9, 1992.
Unit Price:	Means the price payable by Purchaser to Project Proponent per Certified
	Emission Reduction (CER) unit:
	The purchase unit price paid by EcoloCap Solutions Canada Inc. to Viet
	Nam Project Proponent for the CER is fixed at (12)$US/CER, less
	applicable tax and sale commission, for the year 2008 to 2012 and a new
	agreement for purchase unit price will be negotiated for the two periods of
	extension.
	The amount paid to the Viet Nam Project Proponent for the total certified
	CER generated from this project is fixed at (85)% of the total value of
	CER at this above mentioned purchase price ($(12)US), less commission,
	applicable tax and the one time reimbursement of an amount of
	$(75,000)USD to Ecolocap Solutions inc for funding the CDM process.
	TERM:
	Ecolocap Solutions inc will purchase certified CER generated by this
	project for the year 2008 to 2012 with options of extension for two other
	periods of 7 years, the period 2012-2026, under same terms and

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                      Page 4 of 12
	conditions.
Validation:	Means the assessment of the PDD, including the Baseline, by an
	Operational Entity, determining its compliance with the Kyoto Rules.
Verification:	Means the periodic independent review and ex post determination of the
	monitored reductions in GHG emissions that the Project has achieved
	during a specified period of time by an Operational Entity in accordance
	with the Kyoto Rules. The project's owner will be Responsible for
	providing periodical monitoring.
Unless otherwise specified, references to clauses are to clauses of this Agreement, references to
legal provisions are references to such provisions as in effect from time to time, use of a gender
includes any gender and use of the plural includes the singular and vice versa where the context
requires.
All headings and titles are inserted for convenience only and shall not be deemed part of this
Agreement or taken into consideration in its interpretation.
1. Preamble
	The Project is located on the territory of the Host Country.
2.	Contractual Obligations
2.1.	Anticipated Emission Reductions
2.1.1.	Upon Registration of the Project, Purchaser shall endeavor to implement the Project in
	accordance with the PDD and other documents describing the implementation and
	economics of the project attached in Annex IV at its own risk and expense. It is hereby
	acknowledged and agreed between the parties hereto that Purchaser does not warrant
	the generation of, and is not obliged to generate, any CERs, whether by the Project or
	otherwise.
2.1.2.	If the Project generates CERs, during the crediting period Project Proponent shall, to
	the extent it is legally possible and permissible, exclusively transfer or cause to be
	transferred to Purchaser all rights (and, to the extent legally possible and permissible,
	legal title) which Project Proponent may have in the Anticipated Emission Reductions
	generated during the Crediting Period to Purchaser.
2.1.3.	Purchaser shall pay to Project Proponent the Unit Price for each Anticipated Emission
	Reduction generated by the Project and in which the Project Proponent's rights are
	transferred to Purchaser in accordance with clause 3 below.
2.2.	Additional Emission Reductions
2.2.1.	If Additional Emission Reductions are generated by the Project during the Crediting
	Period, Project Proponent shall offer any Additional Emission Reductions to Purchaser
	subject to the terms and conditions of this Agreement and at a price per Additional
	Emission Reduction equal to the Unit Price. If Purchaser does not wishes to exercise
	the purchase option then Project Proponent may deal with the Additional Emission

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                           Page 5 of 12
	Reductions as it wishes.
2.2.2.	Additional Emission Reductions offer by the Purchaser shall be made as soon as
	possible after such Additional Emission Reductions have been generated, but no later
	than December 31 of the year subsequent to the calendar year in which such
	Additional Emission Reductions have been generated.
2.2.3.	Purchaser shall be entitled to accept such offer as a whole or in part and shall notify to
	Project Proponent within one month after receipt of such offer, whether and to what
	extent it accepts the offer. If Purchaser does not respond within this deadline the offer
	shall be deemed to be rejected by Purchaser.
2.2.4.	To the extent Purchaser accepts the offer, Project Proponent shall, to the extent it is
	legally possible and permissible, transfer or cause to be transferred to Purchaser all
	rights (and, to the extent legally possible and permissible, legal title) which Project
	Proponent may have in those Additional Emission Reductions in respect of which
	Purchaser has accepted such offer, within two months after acceptance of such offer
	by Purchaser.
2.2.5.	To the extent Purchaser rejects such offer of Additional Emission Reductions or such
	offer is deemed rejected by Purchaser, Project Proponent shall be free to enter into
	contracts with other parties for the sale of such Additional Emission Reductions or to
	otherwise deal with such Additional Emission Reductions as Project Proponent wishes.
2.2.6.	Purchaser shall pay to Project Proponent a price equal to the Unit Price for each
	Additional Emission Reduction in respect of which Purchaser has accepted such offer.
2.3.	Emission Reductions generated after the Crediting Period
	If the Project generates any Certified Emission Reductions after the Crediting Period,
	Purchaser shall enter into negotiations with Project Proponent with a view to
	concluding an agreement on the purchase of such Certified Emission Reductions
	based on the principles of this Agreement but amended in order to reflect the
	international and/or national rules then applicable.
3.	Transfer
	Transfer to Purchaser of all the rights (and, to the extent legally possible and
	permissible, legal title) which Project Proponent may have in a Certified Emission
	Reduction shall have occurred upon the transfer of a CER from the register of the
	Executive Board to a register in favor of Purchaser or such other account or register
	Purchaser has notified to Project Proponent in writing.
4.	Payment
4.1.	Payment for Certified Emission Reductions
4.1.1.	Payment by Purchaser to Project Proponent for the Certified Emission Reductions (the
	rights in which are transferred pursuant to clause 3) shall be made on the last Business
	Day of the month in which a 40 Business Day period, starting at the day on which
	Purchaser has received satisfactory evidence of the transfer as provided for in Clause

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                          Page 6 of 12
	3, has elapsed.
4.1.2.	All payments shall be made to the accounts specified in Annex [I] hereto or such other
	account as may from time to time be notified to the other party in writing.
4.1.3.	All payments shall be made in US Dollars.
4.1.4.	Subject to clause 4.1.5 below, all taxes, fees, costs or other expenses in connection
	with the generation of CERs by the Project and their Registration and transfer
	(including VAT in any jurisdiction Purchaser duly notifies Project Proponent to transfer
	CERs as in Clause 3, if applicable) shall be borne by Project Proponent and purchaser.
4.1.5.	The share of the proceeds from CERs generated by the Project to be used to cover
	administrative expenses according to the Kyoto Rules shall be borne by Project
	Proponent and Purchaser in equal shares .
	The share of the proceeds from CERs generated by the Project to be used to assist
	developing countries that are particularly vulnerable to the adverse effects of climate
	change to meet the costs of adaptation according to the Kyoto Rules shall be borne by
	Project Proponent and Purchaser in equal shares.
5.	Termination and Remedies
5.1.	Either party (the "Non-defaulting Party") shall be entitled to terminate this Agreement
	by written notice to the other party with immediate effect if any of the following events
	occurs:
5.1.1.	the other party commits a breach of any of its obligations under this Agreement and, in
	the case of a breach capable of being remedied, such breach remains for more than 30
	Business Days after it has been requested in writing by the Non-defaulting Party to
	remedy the breach; or
5.1.2.	the other party goes into liquidation (whether voluntary or otherwise), is unable to pay
	its debts as they fall due, is wound up, makes any compromise, composition or other
	arrangement with its creditors generally, or becomes subject to any administration
	order.
5.2.	Force Majeure
	Should either party be impeded wholly or in part from fulfilling any of its obligations
	under the Agreement for reasons of Force Majeure, such obligation shall be suspended
	to the extent and for as long as such obligation is affected by Force Majeure and the
	impeded party shall be entitled to such extension of time as may be reasonably
	necessary.
	Either party shall notify the other party of the existence and date of beginning of an
	event of Force Majeure that is likely to impede its performance under the Agreement
	within 5 Business Days after having obtained knowledge of any such event. Either
	party shall likewise advise the other of the date when such event ended and shall also
	specify the re-determined time by which the performance of its obligations hereunder is
	to be completed.
	Project Proponent and Purchaser shall consult with each other with a view of
	determining any further appropriate action if a condition of Force Majeure is to continue

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                        Page 7 of 12
	after 20 Business Days from the date of giving notice thereof.
	Neither party shall be liable for damages or have the right to terminate this Agreement
	for any delay in performing hereunder if such delay is caused by Force Majeure;
	provided, however, that the non-impeded party shall be entitled to terminate such part
	of the Agreement that remains unfulfilled, if the condition of Force Majeure is to
	continue after 6 months from the date of giving notice thereof.
6.	Change in Circumstances
	If any change in circumstances (i.e. a change of scientific basics or applicable
	standards relating to the Baseline methodology and/or the applicable criteria for
	Verification and Certification of the resulting Emission Reductions) occurs which
	substantially affects the Project, the parties to this Agreement shall enter into
	negotiations with a view to adapt the Project and its implementation or any relevant
	provision of this Agreement, as may be necessary or useful. A change in
	circumstances shall in no event be considered substantially affecting the Project if at
	least 50% of the Anticipated Emission Reductions can be generated.
	The parties to this Agreement shall cooperate and make their best efforts to enable the
	continuation of the Project in accordance with the new circumstances and to achieve
	the generation and transfer of the Anticipated Emission Reductions.
	If any of the documents related to the Project and submitted at any time during the term
	of this Agreement fails to be approved by such authority whose approval is required
	under the Kyoto Rules or otherwise appears to be non-compliant with any relevant
	standards or conditions of the Kyoto Rules, Project Proponent and Purchaser shall
	discuss whether or not the relevant documents are to be revised and resubmitted.
7.	Conditions Precedent
	This Agreement shall enter into force upon satisfaction of the following conditions
	precedent:
	1. Conclusion of a binding agreement with the Host Country.
8.	Miscellaneous
8.1.	Assignment and subcontracting
	Neither party shall, without the written consent of the other party, assign or transfer the
	Agreement or the benefits or obligations thereof or any part thereof to any other
	person.
8.2.	Confidentiality and Disclosure
	The parties shall treat as confidential all information obtained as a result of entering
	into or performing this Agreement which relates to the provisions of this Agreement, the
	negotiations relating to this Agreement and the subject matter of this Agreement.
	No party shall disclose any such confidential information to any third party, except in
	those circumstances where disclosure is required in order to comply with any laws or

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                    Page 8 of 12
	regulations, including without limitations the Kyoto Rules.
8.3.	Notices
	Any communications to be made under or in connection with this Agreement shall be
	made in writing (including by facsimile) to the address or facsimile number, from time to
	time designated by the party to whom the communication is to be made to the other
	party for that purpose. The address and facsimile number so designated are set out in
	Annex [I] hereto.
	Communication will only be effected, if sent by mail, when delivered to or rejected by
	the recipient, if sent by facsimile, when a transmission report shows that the facsimile
	has been sent.
8.4.	Entire Agreement
	This Agreement embodies the whole and only agreement of the parties with respect to
	the subject matter hereof, and no prior or contemporaneous oral or written agreement
	or understanding shall be deemed to constitute a part of this Agreement, unless
	expressly referred to herein, or attached hereto, or specifically incorporated by
	reference herein. The Annexes and schedules to this Agreement constitute integral
	parts of this Agreement and shall therefore be deemed part of this Agreement.
8.5.	Amendments
	This Agreement may only be amended with the written consent of the parties hereto.
8.6.	Costs and Expenses
	Each party shall bear its own costs and expenses in relation to the negotiation,
	preparation, execution and carrying into effect of this Agreement.
8.7.	Severability
	If any part or provision of the Agreement is or becomes illegal, void or unenforceable in
	any respect, the remaining parts or provisions shall not be affected or impaired. Any
	deficiency in the Agreement resulting there from shall be amended by way of
	interpretation of the Agreement having due regard to the parties intent.
8.8.	Governing law
	This Agreement shall be governed and construed in accordance with English law
	excluding its rules on conflicts of laws.
8.9.	Jurisdiction
	The parties irrevocably submit to the exclusive jurisdiction of the courts having
	jurisdiction in commercial matters for England with regard to all disputes arising out of
	or in connection with this Agreement, its violation, termination or nullity.
8.10.	Counterparts
	This Agreement shall be executed in two counterparts with one copy for Project
	Proponent and one for Purchaser. If there are any discrepancies between the English
	and the Vietnamese version, the English version will prevail .

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                                     Page 9 of 12

PARTIES TO THE AGREEMENT

WHEREOF the parties have agreed to the terms and conditions of this agreement as outlined above, this 26^th day of May, 2008, in the presence of:

Purchaser:
	DR. TRI XX XXXXXX
	President-CEO : Dr. Tri Xx Xxxxxx
Project Proponent:
	XXXXXX XXX XXXX
	General Director: Xx. Xxxxxx Van Long
Witness No 1	Witness Xx 0
XXX XXX XXX XXXXX	XX XXXX XXX
XXx. Xxx Xxx Lan Huong	Le Xxxx Xxx-Engineer
Biology Energy-Waste Treatment	Vietnam
(Vietnam) Ltd.

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                                   Page 10 of 12

ANNEX I:

1. The salient features of 10 MW fired Rice Husk power plant – CDM Project at Xxx Xxxx Xxxxxx, Xxx Xxxxx
commune, Cai Be District in Xxxx Xxxxx Province, Vietnam

No	Parameters	Units	Value
	BIOMASS CHARACTERIZATION
1	Biomass quantity and TYPE  ________________ Historical	Tons/year
	Biomass quantity and TYPE: Rice husk  __ Projected	Tons/year	117440
	Other biomass used in % Biomass B  _____________
	Other biomass used in % Biomass C  _____________
1a	Average biomass density	Kg/m3	130
2	Net calorific value of bimass	MJ/Kg	13.00
	TRANSPORTATION EMISSIONS
4	Average round trip to supply biomass	Km	15
5	Number of barge trips – transportation of biomass	Trips/day	9-12
6	Average barge load – transportation of biomass	Tons	30-40
8	Fuel consumption – transportation of biomass	L/kg rice husk	0.003
	ELECTRICITY GENERATION
11	Total electricity generation Projected	MWh/yr	80 000
13	Total electricity generation Historical	MWh/yr	0.00
	Electricity exported to the grid	MWh/yr	72 000
	On-site used of electricity	MWh/yr	8 000
	Community use of electricity	MWh/yr
20	Average net energy efficiency of electricity generation		>95%
	VAPOR GENERATION		No
14.	Heat generated (vapour) from firing biomass Projected	MWh/yr
15	Historical heat generated (vapour) at the project site Historical	MWh/yr
21/10b	Energy efficency of heat generation	-
	START-UP or AUXILIARY FUEL
10	Quantity of fossil fuel used and type	Mass or volume/yr	No
16	Net calorific value co-fired	MWh / mass or volume	No
	OPEN AIR BURNING OF BIOMASS

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                                     Page 11 of 12 

	Carbon Fraction of biomass	T C/T  biomass
	CH4 emissions	T co2 eq /T biomass
	Biomass used	Tonnes/yr	117 440
	EMISSION REDUCTION
	Estimation nof the emission reduction per Kwh (CERs)	T co2 e q/k Wh	580.61
	Annual estimation of the emission reduction (CERs)	Tco2 e q/year	41.804

2. Project time schedule.

- Year of 2008: 1. Set up and submit for approval of basic design.
                          2. Compensation for land clearance.
                          3. Ask for preventing and fighting fire license, environmental protecting commitment license, construction license.
                   4. Invite bidding of EPC and sign contract for plant construction.
- Year of 2009: Construct the plant, install equipment and run trial operation.
- Year of 2010: Official Operation

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1:

Emission Reduction Purchase Agreement                                                                                      Page 12 of 12

ANNEX 2:

Work flow of CDM Activity

Initial VN Thermo – Power Generation Rice Husk-CDM Project Proponent:_____Initial Ecolocap Solutions (Canada) inc-1: