World Energy Holdings & Research PLC
World Energy Holdings & Research PLC announces its acquisition of the proposed Tacana Hydro Project in Guatemala
World Energy Holdings and Research PLC / Key word(s): Miscellaneous 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 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:
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