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Article Excerpt
M2 PRESSWIRE-25 September 2009-www.StockMarketingInc.com: GSAE - Green Star Alternative Energy, Inc. - Latest News!! Green Star Negotiating a Joint Venture to Construct 120 MW Wind Farm(C)1994-2009 M2 COMMUNICATIONS
RDATE:24092009
STOCK MARKETING INC PRESENTS :(PINK: GSAE - Green Star Alternative Energy, Inc.) (OTCBB: NCEN - Nacel Energy Corp.) (NASDAQ: MERC - Mercer International, Inc.) (OTCBB: VSMR - Verify Smart Corp.) (NASDAQ: HYGS - Hydrogenics Corp.)
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(PINK: GSAE - Green Star Alternative Energy, Inc.)
LATEST NEWS!!
Green Star Negotiating a Joint Venture to Construct 120 MW Wind Farm
SAN DIEGO, CA, Sept 24, 2009 -- Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; "GSAE" or the "Company") (http://www.greenstarae.com) announces that the Company is in negotiations with a private corporation for the development of a 120 MW wind energy facility. The project is in the advanced stages of pre-construction and in a high wind velocity zone.
The 120 MW wind farm is to be sited in North East Serbia - specifically in the Municipality of Pancevo, District of Banat, within the Autonomous Province of Vojvodina. Over 28 months of wind resource data has been accumulated over three micro locations and the results indicate significant energy potential. A "Protocol of Cooperation" has been signed by the City of Pancevo, Secretariat of Energy for AP Vojvodina, and the Serbian Energy Efficiency Agency; and a license for grid connection is in process by the national transmission operator (EMS).
Data analysis has been conducted using the Wind Atlas Analysis and Application Program (WAsP); it has provided optimal wind turbine positioning for 60 - 2 MW generators. The existing 110 kV overhead line runs adjacent to the site and allows for economical integration to the electrical grid; in addition, the transportation infrastructure further eases the construction process. The 120 MW wind energy facility is expected to generate revenues in excess of $62 million per annum.
Mike Andric, CEO of Green Star Alternative Energy, stated: "This is an important development for both Green Star and the Republic of Serbia. The project will firmly establish wind as the foremost renewable energy source for the entire region by supplying over 40,000 homes with electricity."
About GSAE
Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
Investor Relations: Toll-Free: (877) 257-GSAE (4723) gsaeir@gmail.com www.greenstarae.com
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements'. These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or...
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