WILMINGTON, N.C., Dec. 22, 2003 (PRIMEZONE) -- Green Power Energy Holdings Corp. (OTCBB:GPEH) announces that it has received a firm commitment for long term $11,000,000 financing to close in January 2004 subject to the completion of formal documents. The Company is also negotiating the restructuring of the balance owing on the Kenansville, NC power generation facility. Further details will be announced, as they become available.
Wayne Coverdale, Chairman & CEO of Green Power Energy Holdings Corp. noted, "This is a significant break through for the Company. We anticipate this will allow us to move ahead with our business plan."
About Green Power Energy Holdings Corp.
Green Power Energy is a generator and wholesaler of electric power to electric utilities serving the retail electric market. Green Power Energy currently owns and operates a 38-megawatt cogeneration facility in Kenansville, North Carolina, which has governmental permits to burn a variety of fuels. Green Power also sells steam to an adjacent textile mill.
Green Power has relocated its executive offices to 130 N Front Street Wilmington, North Carolina 28401 and its telephone number is (910) 392-7690. The company website may be located at www.gpeh.com.
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