SAN DIEGO, Oct. 27, 2009 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") announces that company officials will be leaving for China during the first week of November. Welwind's China office has been informed by the Zhanjiang Government that Welwind is required to move the location of phase one of its current wind farm to allow for the development of Shanghai Baosteel Group Corporation. Representatives from Welwind North America along with Welwind China will have meetings with Zhanjiang officials to further determine specifics of the proposed relocation, along with compensation that the organization will be demanding for this move. "We anticipated the impending move considering that the permit for construction will come from the same government -body that also owns Baosteel. As such, we expect favourable compensation from the government for the inconvenience it has and will cause Welwind and its shareholders. Our trip to China will further the process of rectifying this inconvenience and allow us to move right into development of phase two of the project with full government support", says Larry McNabb, President of Welwind Energy International Corp.
During the trip, Welwind will be meeting with an established wind farm company that wishes to discuss a potential partnership in two large wind farm projects with confirmed power purchase agreements in place.
ABOUT BAOSTEEL
Shanghai Baosteel Group Corporation is the largest Chinese iron and steel conglomerate. It is a state-owned enterprise headquartered in Shanghai. Baosteel is the third largest steel producer in the world. It employs 112,000 employees, revenues of $21.5 billion and a mix of high-quality products.
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.