SAN DIEGO, Dec. 2, 2008 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces that it has secured an additional 1400 acres of private land for its Peace Region Project.
The company is seeking private land to minimize the environmental process and high costs that are inherent with Crown Land.
Initially it was announced that the company would be pursuing approximately 13 quarter sections (approximately 2300 acres) of privately owned farmer's field property. After multiple meetings, the company then doubled its land position to 4680 acres (28 quarter sections) earlier this summer. The company has now secured an additional 1400 acres (approximately 10 quarter sections) of land bringing the total amount of land to be secured to 6080 acres (38 quarter sections) enough to build our first phase of approximately 100 MW.
Welwind received an intent to fund all of our projects in China along with the development activities in the Peace region. Funding has been secured at very reasonable terms and rates allowing for additional bottom line revenue for our investors.
ABOUT PEACE REGION PROJECT
The site is located near Dawson Creek, British Columbia and consists of more than 6000 acres. The majority of the project will be situated on private cultivated land. Currently the properties are being used primarily for hay farming and cattle ranching. The company intends to install 2 to 4 meteorological towers on the property early 2009.
The Peace River region is known to be one of the windiest areas in B.C. and is currently being considered by many wind developers, with some wind farms now under construction. The Clean Power Call by BC Hydro indicates that at least 90 per cent of all electricity generated in the Province must continue to come from clean or renewable sources and to achieve electricity self-sufficiency by 2016. The area has been identified by world wind developers, Garrad Hassan, BCHydro as having world-class wind potential.
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.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.