Alter Energy Group AG
Alter Energy Group AG signs new small hydro power projects
Alter Energy Group AG / Key word(s): Letter of Intent ‘Alter Energy Group AG signs new small hydro power projects.’ Zurich Switzerland – July 19, 2011 The stations listed in the LOI consist of a total of 9 SHP power plants producing an estimated 32.5MWe and are to be developed in cooperation with the IF Regional State Administration (IFRSA) and Kosivhydroenergo Ltd. (KHE) as the local development partner. All net power produced will be sold directly to the national distribution network or grid under Ukraine Green Tariff. About AEG: AEG is a Zurich-based publicly traded Swiss company with emerging market operations in Ukraine. AEG develops, acquires, and invests in alternative and renewable energy projects and companies. The current target market is Ukraine with planned expansion into other emerging markets in the region as well as established markets such as the U.S., Canada and Germany for future consideration. About KHE: Kosivhydroenergo Ltd is a project company that was set up for the purposes of small hydro development in Kosiv district, Ivanofrankovsk region. As of now the company is in the process of development of 9 stations with total capacity of 32.5 MW with the first 3.4 MW Roztoky station on the Cheremosh river having its building permit in place. For more information please visit: www.alterenergygroup.com Contact Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the Company’s current and future capital needs, any actions by the Company’s partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. End of Corporate News 19.07.2011 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 |
132476 19.07.2011 |