SAN DIEGO, Dec. 3, 2008 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces that it has successfully 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 its relationship starting with a site located in Southern Alberta Canada. Windcor Power Systems has worked with Welwind for the past few years as its developer for its China projects, namely the Zhanjiang and Yangxi wind farms to develop over 1000 MW of wind generated power. The relationship further extends to its Peace Region Project in British Columbia as well.
The two companies have had the opportunity to forge a relationship over the successful development of its projects in China and determined that the next natural step would be to form a joint venture on the Canadian frontier of the wind industry.
The project, with a potential build out of 200 MW, is located in Southern Alberta Canada and has over 3 years wind data. The Company has determined that data to date proves favorable to build a profitable wind project at this location.
Most of the environmental work is complete and through consultation with the public and area stakeholders we are comfortable that Windcor and Welwind now have all of the necessary data to proceed on a successful endeavor. "This is a natural partnership between our two companies. With Windcor's expertise in the Canadian green energy field and Welwind's strong financial partners, we look forward to future successes in our joint venture relationship," says Larry McNabb, President of Welwind.
Windcor and Welwind are jointly reviewing projects in various provinces of Canada, namely 3 potential sites in Alberta and British Columbia. Each project will be in the range of 100 MW for the commercial scale wind sites. There are also various community projects in the range of 10 - 30 MW that are also being considered due to their expediency in development time.
ABOUT WINDCOR POWER SYSTEMS
Windcor Power Systems is a Canadian wind energy development company with a unique vision for the alternative energy industry. Our 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.
Windcor sees the opportunity to combine the government's strong commitment to wind energy, with an increasing public interest, adding technological improvements, to provide abundant low-cost energy to consumer, while improving our environment as a whole.
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.globenewswire.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.