BOISE, Idaho, April 27, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCBB:AEHI) today announced that in a unanimous decision yesterday, April 26, 2010, Payette County Commissioners approved a key change to the county's comprehensive plan, which advances AEHI's plans to develop a nuclear power plant within the county. The comprehensive plan change allows for an industrial complex on a 5,000 acre parcel under the precondition that the industrial use involve a nuclear power plant. The change creates a footprint for industrial uses in an area once designated solely for the purpose of agriculture. The parcel is located near Big Willow Road and Stone Quarry Road, just a few miles from New Plymouth, Idaho.
"This important decision brings us one step closer to final approval of a large advanced nuclear power plant and also illustrates the strong support we have from both county leaders and the community. The planned nuclear plant will be a 'win-win' for local residents, in the form of lower utility costs and high paying jobs, the local and state government, through an enhanced tax base, and the nation in the form of low-cost, clean and reliable power," said Don Gillispie, AEHI CEO. "This decision also represents a major victory for our shareholders who have been enormously supportive throughout this process."
"This vote reaffirms the will of the majority of residents of Payette County who have told us and the commissioners they want a nuclear power plant in their community. They want the jobs and the financial stability for the towns where they live, which is something our plant can and will create," said Gillispie.
According to a recent study, the proposed plant is expected to create around 5,000 jobs through the construction phase and more than 1,000 jobs during operations. Pay levels for those jobs will average $60,000 and $80,000, respectively.
The projected revenue for the county and state is staggering. During construction alone, the project should increase Idaho's GDP by $5.3 billion, while $4.8 billion will flow directly through Payette County.
About Alternate Energy Holdings, Inc. (http://www.alternateenergyholdings.com/) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral, which removes energy demands from homes and businesses (http://www.energyneutralinc.com/), Colorado Energy Park (nuclear and solar generation), and International Reactors, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power. AEHI Korea, Seoul, is assisting KEPCO (Korea Electric Power Corporation) to export their APR 1400 reactor into the U.S. and achieve NRC design certification.
"Safe Harbor" Statement: This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. As a result, investors should not place undue reliance on these forward-looking statements.