PRESS RELEASE Greenwind Power Raises 11.6 Million Dollars for Alberta Wind Energy Projects: "Greenwind Power Raises 11.6 Million Dollars for Alberta Wind Energy Projects
VANCOUVER, BC -- (MARKET WIRE) -- 01/26/2006 -- Greenwind Power Corp and Greenwind Power (Canada) Corp, a wholly owned subsidiary of Greenwind Power Corp USA ("Greenwind" or the "Company") (OTC: GWDP) are pleased to announce they have raised 11.6 million dollars towards securing transmission rights with the Alberta Electric System Operator (AESO) for power to be generated by three wind farms being developed in South West Alberta.
Greenwind and its partner, Energy Logics of Vancouver are involved in 7 wind energy projects in South West Alberta to provide in excess of 600 megawatts (MW) of potential wind energy production.
"The long term objective is to position the Company as a strong business leader in the renewable energy sector," stated Glenn Collick, president of Greenwind. The Company has secured long-term leases on all projects which are at various development stages from wind monitoring to full approvals from the Electric Utilities Board of Alberta (EUB).
Energy Logics is a Canadian alternative energy financing specialist providing equity and debt solutions for innovative alternative energy project developers.
"Integral to the development of a wind farm is the ability to move the generated power to the markets that require it," says Ron Knoedler, project manager for Greenwind. This past year the AESO committed to spending $80 million on upgrades to the southwest Alberta transmission system in order to satisfy the growing development of wind farms in the region. With the investment of the $11.6 million, Greenwind has reserved transmission capacity for the Yagos Wind Energy Inc. and the Riverside Wind Energy Inc.100 MW wind farms. In addition, Greenwind has attained a small interest in a third wind farm project that has also reserved transmission capacity on the grid.
Glenn Collick, President
This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.
Distributed by Filing Services Canada and retransmitted by Market Wire
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For information please contact:
Earl Hope
(604) 484-3704
Toll Free: 1-866-789-WIND (9463)
Email Contact
Email Contact
www.greenwindpower.com
PO Box 12, 595 Howe Street
Suite 902 (Vancouver, BC V6C 2T5
Telephone: (604) 484-3701
Fax: (604) 484-3791
(Toll Free: 1-866-789-WIND (9463)
Email: Email Contact
(Website: www.greenwindpower.com)
SOURCE: Greenwind Power Corp. USA
