SAN DIEGO, Nov. 20, 2007 (PRIME NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company"), announces update on status of Power Purchase (PPA) Agreement for Zhanjiang Windfarm.
On Thursday November 15th a complete and independent Project Feasibility Study Report and Grid Connection Report were finalized by Guangdong Electric Power Design Institute (GEPDI) for Welwind. These two reports were submitted to Guangdong Power Grid Corporation (GPGC) for final approval of the PPA. The company's office in China indicates that the content of the reports are very favorable in every aspect of build out and exceeds the company's expectations.
GPGC will sign a "wind farm grid connection intent agreement" with Welwind after reviewing the two reports. The results of the feedback from GPGC will either be a staged opinion report from them indicating any modifications that they require or they will immediately sign and execute the Power Purchase (PPA).
Based on GEPDI's reports it is the company's opinion that there are no remaining obstacles in obtaining the PPA. The company anticipates the PPA before the end of the month.
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 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.