SAN DIEGO, Feb. 3, 2009 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces that, according to the Global Wind Energy Council (GWEC), 2008 has been a record year for the worldwide wind energy industry. New wind farms have generated over 27,000 MW of greenhouse gas-free electricity. Global wind energy capacity grew by 28.8% last year, even higher than the average over the past decade, to reach total global installations of more than 120.8 GW at the end of 2008. Over 27 GW of new wind power generation capacity came online in 2008, 36% more than in 2007.
The United States overtook Germany as the world's green superpower by installing 8,358 MW in 2008, a 50% increase over the previous year. 8,000 MW is enough wind energy to power two million homes in the US. India completed 2008 with 9,645 MW of wind energy and has added 1,800 MW more capacity than former leaders, Germany and Spain. Indian turbine maker, Suzlon, acquired German turbine maker REPower and moved its international headquarters to Denmark.
Even more significant to Welwind shareholders is China's rapid emergence as the next superpower globally. Last year China doubled its wind energy capacity, four straight years in a row, adding 6,300 MW of new power for a total capacity of 12,210 MW. Over one third of the world's new wind capacity was installed by Asia, with China accounting for 73% of the total power. China has currently reached its 2010 target for reaching 5,000 MW of wind power and anticipates reaching its 2020 goal of 30,000 MW years early.
Li Junfeng, Secretary General of the Chinese Renewable Energy Industry Association, stated that newly installed capacity is expected to double again, which will be one third or more of the world's total new install capacity for the year.
China's rapid growth in the wind energy industry has prompted a rapidly increasing domestic wind industry and growing investment by overseas companies. Denmark's Vestas, the world's largest turbine maker, will open its fifth factory in China this year. The company has received orders for an additional 200 MW's worth of turbines at the end of 2008. GE also operates a factory in China and in January announced a joint venture with Chinese company A-Power Energy Generation to make turbine gearboxes. In a separate deal with A-Power, GE will supply the company with 900 turbine gearboxes starting next year.
Installed global wind capacity now stands at 120.8 gigawatts with the 2008 turbine market worth $47.5 billion, according to the Global Wind Energy Council.
"We feel that the numbers globally, but more so in China, speak for themselves. We are encouraged by market growth even with the global economic and financial downturn. With the US becoming the new global superpower in wind energy, Welwind feels that its decision to pull some of its focus from China to the US market will prove to be a prudent decision for the company and its investors in 2009," says Larry McNabb, President of Welwind Energy International Corp.
Welwind Website - Welwind's dot com website has been down for the last two days due to a server change. We anticipate the site being up again by tomorrow along with the company's email server. The China website is live and is not experiencing any issues www.welwind.cn. Please contact Rob Bragg with all email inquiries until this time.
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.