Sep 8 2008
Green Star Alternative Energy, Inc. (Pink Sheets:GSAE) announces the development of a new wind energy project in the Republic of Serbia. The 20 Megawatt (MW) Belo Blato wind farm will be the initial phase of a 300 MW development plan. It will be the country’s first alternative energy project to generate renewable, emission-free power from wind. Green Star is acquiring alternative energy development and power trading company Notos d.o.o. to become Serbia’s first wind power developer. Green Star expects the Belo Blato project to come online by second quarter 2009.
Green Star reports the Belo Blato wind energy project is being developed to generate 20 MW of wind power to provide 6,000 homes with a supply of eco-friendly electricity. The wind farm will contribute to community development and enable Serbia to leverage its abundant renewable wind resource to meet increasing power requirements. The company also plans to grow and sell wheat to maximize use of the site’s fertile soil.
The wind farm will occupy 89 hectares of land permitted for wind power and agriculture north of Belgrade. The site is located in the municipality of Zrenjanin within Vojvodina AP, which hosts some of the most constant winds in the region and offers excellent potential for wind energy generation and transmission. Nearly two-thirds of the surface area of Vojvodina AP features wind speeds exceeding 4 m/s. The prerequisite constant level of 5 m/s can be found in several locations: Zrenjanin, Bela Crkva, Indija, Irig, Sombor, Novi Sad and Vrsac. The Pannonian plain is ideal for the construction of wind turbines and the basic infrastructure, from roads to the electricity grid, is already in place.
Miodrag Andric, President of Notos, commented: “Serbia is ready for wind power. The nation has ample wind resources and a stable and growing economy. National energy policy calls for increased use of renewable resources to meet rising electricity needs. We are thrilled to be helping Serbia to realize its clean energy potential.”
J. M. De Castro, CFO of Green Star Alternative Energy, stated: “The Belo Blato wind project is progressing through the final stages prior to construction. A feasibility study has been completed and permits are in process. We expect construction to begin in early 2009 with the first turbine operating in the second quarter. This project marks a new era of clean energy generation for Serbia. Green Star Alternative Energy is proud to be a part of it.”