Welwind Energy International Receives $75 Million Commitment Letter to Finance the Company's Second Windfarm Project in Yangxi


SAN DIEGO, Feb. 26, 2008 (PRIME NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") is pleased to announce that it has received a second commitment letter from Acterra Group to fund Phase I of the company's Yangxi Windfarm project.

Like the Zhanjiang Project, Phase I of Yangxi will also consist of 65 turbines at 1.2-1.5 million per turbine. This commitment will be up to, but not limited to, $75 million.

"Unlike Zhanjiang, we have an early commitment in the Yangxi project by Acterra for funding which will expedite the PPA with the Yangxi Government. There have been many tedious processes in the Zhanjiang PPA that are now near completion. This learning curve will allow us to streamline Yangxi's PPA even more so," says Mr. Shannon de Delley, Director of Welwind. "We will continue to obtain financing without further dilution in shareholder stock positions. Debt financing is the best vehicle to accomplish our windfarm build outs," he adds.

Acterra continues to review documentation for the Zhanjiang Windfarm due diligence period and we feel that we are 98% complete and anticipate financing will begin in conjunction with the PPA announcement.

The company continues to predict that the anticipated financing and build out of Phase I will be within the first quarter of 2008.

ABOUT ACTERRA GROUP

For nearly 50 years the people of the Acterra Group have been providing services and support to energy, natural resource, and sustainability companies. From project inception through completion they assist in all areas.

The staff of the Acterra Group is actively working to support the renewable energy market. They deliver services in a number of different ways, each dependent upon the needs and expertise of the clients.

Acterra brings a complete understanding of all project aspects to the management of renewable energy projects thorough technical understanding, construction capabilities, operational talent as well as the underlying financial and management skills necessary for complex programs and comprehensive projects.

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 windfarms 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.



            

Contact Data