DGAP-News: World Energy Holdings&Research PLC announces its acquisition of the proposed Tacana Hydro Project in Guatemala
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World Energy Holdings&Research PLC announces its acquisition of the
proposed Tacana Hydro Project in Guatemala
18.01.2011 / 13:30
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World Energy Holdings&Research PLC announces its acquisition of the
proposed Tacana Hydro Project in Guatemala
World Energy Holdings&Research PLC ('WEHR' of the 'Company')(ISIN
GB00B50QMR32, WKN A1C9BX, admitted for trading under Frankfurt Symbol 0WE)
is pleased to announce that its wholly owned subsidiary World Energy Hydro
Limited acquired 99% of World Energy Tacana SA from World Energy Holdings
Guatemala SA (WEHG). WEHR and WEHG are part of the World Energy group of
Companies.
World Energy Tacana SA has the right to construct, develop, and operate the
Tacana Hydro Power Plant on the Coatan River and Los Molinos River in the
jurisdictions of San Marco's Guatemala ('the Tacana')
WEHR has:
- estimated construction costs of the Tacana Project at£38 million with
anticipated annual net profits of approximately£12 million
- an initial 10 year power purchase agreement
- a project life of up to 50 years;
The£55 million purchase price payable by World Energy Hydro Limited was
dually satisfied by the issue by WEHR to World Energy Holdings Guatemala SA
of 40 million ordinary shares and 15 million restricted ordinary shares.
'We are excited about the Guatemala market and the potential of hydro
electricity using an ecological and economical technology for building our
power stations. This project is in-line with our goals of social
responsibility, knowledge transfer and community involvement,' says Jorge
Vizcarra, Director of World Energy Holdings&Research Plc and of World
Energy Hydro Limited
About World Energy Holdings&Research Plc
World Energy Holdings&Research Plc (ISIN GB00B50QMR32, WKN A1C9BX, 0WE )
is a public limited company incorporated in England focusing on the
development of power plants, specifically in Central and Latin America.
World Energy Holdings&Research Plc is admitted for trading on the
Frankfurt Stock Exchange Entry Standard (Open Market) under symbol '0WE'
('Zero' 'W' 'E').
Disclaimer:
The information contained in this press release is not intended for
distribution, publication or disclosure in or within the United States of
America, Canada, Australia or Japan or in or into any other jurisdiction
where such publication, distribution or release would breach any applicable
securities law or regulation.
This press release is solely for informational purposes and does not
constitute a prospectus or other offering document nor an offer to sell or
a solicitation of an offer to buy securities of WEHR. No regulatory
authority has approved the press release.
This press release contains forward-looking statements. Forward-looking
statements are not statements of historical fact and reflect the current
assessments, views, assumptions and beliefs made by WEHR or its officers
according to the information available as of the date of this press release
about future events, operating performance, financial condition, business
strategy, WEHR's plans and objectives for future operations and the
industry in which it operates. Forward-looking statements are subject to
known and unknown risks, uncertainties and other factors which may cause
actual outcomes to differ materially from those suggested in this press
release. WEHR undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information, future
events or developments or otherwise. All subsequent written and oral
forward-looking statements attributable to WEHR and those acting on its
behalf, are expressly qualified in their entirety by the foregoing.
Enquiries to:
World Energy Holdings&Research PLC
Brandon Francis, VP of Global Relations
Tel: +502-2378-6400
End
End of Corporate News
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18.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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109304 18.01.2011
Datum: 18.01.2011 - 13:30 Uhr
Sprache: Deutsch
News-ID 33021
Anzahl Zeichen: 0
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Kategorie:
Business News
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