Press Release Source: Welwind Energy International Corporation
Welwind Receives Finance Commitment for Its 200 MW Southern Alberta, Canada Wind Farm Project
SAN DIEGO, Dec. 9, 2008 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTC BB:WWEI.OB - News) (the ``Company'') announces that it has received a letter of intent to finance its 200 MW wind farm project located in Southern Alberta, Canada. The value of the 200 MW project is in excess of US$400,000,000 (four hundred million).
As previously announced, Welwind has come to a terms agreement with Windcor Power Systems to create a joint venture partnership on various projects located in Canada. Both companies agree to begin their relationship starting with the Southern Alberta project.
ABOUT THE SOUTHERN ALBERTA PROJECT
* The project, with a potential build out of 200 MW, is located
in Southern Alberta, Canada and has over 3 years wind data.
* The energy yield for the project shows a steady class of wind that
will produce a clean, low turbulent output. This is better on the
equipment compared to blustery winds known in the south west region of
the foothills of Alberta.
* The project is located in an area that is far enough away from
the blustery conditions with no residences close to the project; the
transmission runs through the property and there are no known
environmental issues preventing the project from proceeding.
* The area is one of the lowest populated areas in Alberta and has
some of the best suited wind regimes in the province for production,
operation and maintenance of the turbines.
* The Province of Alberta is known for its wind regime and its
deregulated market, having some of the first turbines installed
in Canada.
* The City of Calgary runs their (C-train) transit system from Wind
generated electricity.
* The companies will work to have this project construction ready in
2009 with the electricity to be sold to the Alberta Power Pool.
* There is enough room on the grid where the project is located so
that there are no delays with conducting any interconnection issues
or waiting for new transmission lines to be built.
``With the funding commitment that is in place we will be able to complete all of our project goals in 2009, including the Peace project, Zhanjiang, Yangxi, and Ningxia,'' says Shannon de Delley, Director of Welwind.
ABOUT WINDCOR POWER SYSTEMS
Windcor Power Systems is a Canadian wind energy development company with a unique vision for the alternative energy industry. Their unique approach is to forge close ties with partner communities, both through the development process, and afterward into power production. With this approach, communities enjoy respect for both their traditions and their own vision of their future.
ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.
Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
The Welwind Energy International Corporation logo is available for download at: http://www.primenewswire.com/newsroom/prs/?pkgid=3727
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact:
Welwind Energy International Corp.
604-460-8487
866-677-2272
info@welwind.com
www.welwind.com
NetGain Financial
Investor Relations
Robert Bragg
866-636-0252
rob@netgain-financial.com
Disclaimer: NEVER INVEST IN A COMPANY I/WE PROFILE OR DISCUSS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THIS SECURITY INVOLVES A HIGH DEGREE OF RISK. THIS EMAIL IS NOT AN OFFER OR SOLICITATION TO BUY OR SELL THE SECURITY NAMED IN THIS DOCUMENT; this email in regard to Welwind Energy International Corp (Welwind or the Company) should not be relied upon for investment decisions. This document in not an offer or solicitation to buy or sell the security but should be used for information purposes only. Further due diligence should be done through the Company?s filings with the SEC. This security is speculative and should not be purchased unless you can afford to lose your entire investment. Welwind has contracted NetGain for a period of six months (commencing August 1, 2008) of ?Investor Relations?. NetGain will be compensated five thousand dollars a month for the six months and three million shares of Welwind common RESTRICTED stock. This stock CANNOT be sold on the open market for at least six months and only through SEC Rule 144 (as amended). FORWARD LOOKING STATEMENTS-SAFE HARBOR: This email contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management?s beliefs, as well as assumptions made by, and information currently available to management pursuant to the ?safe-harbor? provisions of the Private Securities Litigation Reform Act of 1995. The statements, estimates and projections as to the future revenues and results of operations of the Company are based upon estimates provided by Welwind management. The projections of the future financial and operating performance have been provided to assist in an evaluation of the projected business, but are not to be relied upon as accurate representations of future results. Furthermore, because the projected financial information is based upon estimates and hypothetical assumptions about circumstances and events that have not yet taken place and are subject to variation, there are no representations or warranties associated therewith, and there can be no assurance that the projected results will be attained. This Plan is based upon information developed by Welwind management solely for use by prospective investors in examining the factors and details regarding the Company. This document does not purport to be all-inclusive or to contain all of the information that a prospective investor may desire. Nor representation or warranty is made as to the accuracy of completeness of any of the information contained herein. The Company or NetGain does not undertake to update forward-looking statements in this email to reflect actual result, changes in assumptions or changes on other factors affecting such forward-looking information.