SAN DIEGO, June 23, 2008 (PRIME NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI) (the "Company") is pleased to announce that it is entering into a land lease agreement in the Peace River Region of British Columbia, Canada. The Peace River Region has been deemed as an exceptional location to develop a wind farm with multiple projects currently being perused.
In a November 6, 2007 news release the company announced that it had sent a representative to survey the land, and data results for build out were favorable. After visiting the site at Tumbler Ridge British Columbia, Canada, it was determined that the site is an excellent location to proceed with a wind farm project.
Initially it was announced that the company would be pursuing approximately 13 quarter sections (approximately 2300 acres) of privately owned farmer's field property. After multiple meetings, the company is now looking at doubling its land position to 4680 acres (28 quarter sections). The company anticipates acquiring additional private land and/or crown land around the existing 4680 acres in the near future. Depending on the size of the turbines installed, the company will be looking at generating a minimum of 100 MW.
This location has an excellent set of roads for accessing the potential site. The site presents virtually no encumbrances to an installation of either a meteorological tower or a wind farm. Road access for turbine installation would also be ideal as the road runs adjacent to the site.
Additional information on the company and its projects can be found on the company website and will be given at the company's investor conference call later today at 1:00 p.m. PDT.
"According to past studies, the Peace Region is known to have the best wind speeds in BC. Today's news allows the company to diversify its portfolio and we are pleased to include Canada in our business model. BC Hydro's wind call has created Canada's next gold rush boom," says Shannon de Delley, Director of Welwind.
ABOUT PEACE REGION AND BC HYDRO
British Columbia (BC) is about to enter a new era of clean energy generation with the largest clean power call ever issued in the province, setting the stage for BC's untapped potential of wind energy to be realized. BC Hydro is asking power producers to submit proposals that collectively will add up to 5,000 gigawatt hours (GWh) of clean or renewable energy per year, enough to power 500,000 homes.
With over 5,000 MW of potential generating capacity in the province, Welwind is in a perfect position to be part of the province's alternative energy gold rush. 1,600 MW of wind energy capacity would represent close to $4 Billion in investment and would create 3,000 jobs throughout the province, placing BC amongst the leaders in wind energy generation in Canada.
The Clean Power Call RFP aligns with the BC Energy Plan: A Vision for Clean Energy Leadership (http://energyplan.gov.bc.ca/), released February 27, 2007, which indicates that at least 90 per cent of all electricity generated in the province must continue to come from clean or renewable sources and to achieve electricity self-sufficiency by 2016.
Forward-looking Statements: The information in this news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and other applicable securities legislation. All statements, other than statements of historical facts, that address activities, events, outcomes and other matters that Welwind plans, expects, intends, assumes, believes, budgets, predicts, forecasts, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. These forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements and refer to the Form 20-F or our annual information form for further detail.
ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.
Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
The Welwind Energy International Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3727
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.