DGAP-News: Greenworld Wind Power Announces Bulalacao Wind Farm Project Receives Green Light From Local Government
(firmenpresse) - DGAP-News: Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous
Greenworld Wind Power Announces Bulalacao Wind Farm Project Receives
Green Light From Local Government
02.04.2012 / 09:00
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Greenworld Wind Power Announces Bulalacao Wind Farm Project Receives Green
Light From Local Government
Toronto, Canada, March 30, 2012 Greenworld Wind Power Co. Ltd.
(Greenworld): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), advised
today that PhilCarbon Inc., in which it has a 40% stake, has received
endorsement from the Municipality of
Bulalacao in Oriental Mindoro for its proposed wind farm project.
Philcarbon has created a wholly owned subsidiary, Bulalacao Wind Power
Corporation, to construct, operate and maintain the facility. The 30MW wind
farm has previously obtained a service contract from the Philippine
Department of Energy.
The project facilities are to be constructed in 5 of the 15 Barangays that
comprise Bulalacao; Balatasan; San Juan; Poblacion; Campaasan; and Maujao.
(A barangay is the smallest administrative division in the Philippines and
is the native Filipino term for a village, district or ward.) All five of
these Barangays have also provided local endorsement for the project.
Currently, the Oriental Mindoro Electric Cooperative (ORMECO) supplies
power to the Municipality of Bulalacao which in turn draws its supply from
the National Power Corporation (NPC) through the transmission facilities of
the National Grid Corporation of the Philippines (NGCP).
The project will sell power to OREMCO, and feed into the regional
electrical grid. From there, the power generated by the wind farm can help
meet the electrical demands of the entire Mindoro Province.
Governments at the federal, provincial and municipal level have all
embraced the need to develop renewable energy sources in order to meet the
growing demand for electricity throughout the Philippines.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of Greenworld Wind Power Co. Ltd.'s plans, goals and
expectations regarding its future financial condition, performance,
results, strategy and objectives. Words such as 'anticipates', 'expects',
'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could',
'would', 'might', 'will' and variations of these words or similar
expressions are intended to identify forward-looking statements. In
addition, any statements that refer to expectations, beliefs, plans,
projections, objections, performance or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. Forward-looking statements in this press
release are not promises or guarantees of future performance and are
subject to risks and uncertainties that could cause Greenworld Wind Power
Co. Ltd.'s actual results to differ materially from those anticipated.
Greenworld Wind Power Co. Ltd. cautions the reader not to place undue
reliance upon any such forward-looking statements. These forward-looking
statements involve known and unknown risks as well as uncertainties,
including those discussed herein as well as the following: (i) domestic and
global economic and business conditions; (ii) market related risks and the
performance of financialmarkets generally; (iii) the policies and actions
of regulatory authorities; (iv) the impact of competitive factors; (v)
risks and uncertainties associated with future acquisitions or combinations
within relevant industries; and (vi) changes in capital, solvency or
accounting standards as well as tax and other relevant legislation or
regulations in the jurisdictions in which Greenworld Wind Power Co. Ltd.
operates. The actual results that Greenworld Wind Power Co. Ltd. achieves
may differ materially from any forward-looking statements which are based
on management's beliefs and opinions at the time the statements are made.
Greenworld Wind Power Co. Ltd. does not undertake any obligation to update
forward-looking statements should circumstances or management's beliefs or
opinions change.
For further information please contact:
Greenworld Wind Power Co. Ltd.
100 Consillium Place
Suite 200
Scarborough, ON
M1H 3E3
Email: info(at) greenworldpower.ca
End of Corporate News
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