Greenworld Wind Supreme Power Co. Ltd.
Greenworld Wind Power Assists Crestford View in Signing Memorandum of Agreement to Expand the Kumalarang Mini-Hydropower Plant
Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous Greenworld Wind Power Assists Crestford View in Signing Memorandum of Agreement to Expand the Kumalarang Mini-Hydropower Plant Toronto, Canada – (For immediate release) – January 9, 2012 Greenworld Wind Power Co. Ltd. (Greenworld): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), is pleased to announce that it has worked with Crestford View Generation Corp. in achieving an agreement in principle with the Basilan Electric Cooperative Inc. to significantly expand the Kumalarang mini-hydro power plant, which the Cooperative operates. The agreement envisions Crestford View conducting the feasibility study on a planned 700 KW expansion of the existing power plant and then spearheading the actual construction phase of the project. Crestford will retain ownership rights over the project and pay an ongoing royalty back to the Cooperative. Located in Lantawan, Basilan, and with a 640KW dependable capacity, the Kumalarang power plant cannot meet current peak load demand of 950KWs. The power shortage is attributed to the relatively rapid expansion of the population in the Lantawan, Maluso, and Sumisip municipalities. Greenworld has a 40% interest in Crestford View. Further details will be provided when the definitive agreement has been finalized. 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 financial markets 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.
Greenworld Wind Power Co. Ltd. Email: info@ greenworldpower.ca End of Corporate News 09.01.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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