The 120 MW wind farm is to be sited in North East Serbia – specifically in the Municipality of Pancevo, District of Banat, within the Autonomous Province of Vojvodina. Over 28 months of wind resource data has been accumulated over three micro locations and the results indicate significant energy potential. A "Protocol of Cooperation" has been signed by the City of Pancevo, Secretariat of Energy for AP Vojvodina, and the Serbian Energy Efficiency Agency; and a license for grid connection is in process by the national transmission operator (EMS).
Data analysis has been conducted using the Wind Atlas Analysis and Application Program (WAsP); it has provided optimal wind turbine positioning for 60 – 2 MW generators. The existing 110 kV overhead line runs adjacent to the site and allows for economical integration to the electrical grid; in addition, the transportation infrastructure further eases the construction process. The 120 MW wind power facility is expected to generate revenues in excess of $62 million per annum.
Mike Andric, CEO of Green Star Alternative Energy, stated: "This is an important development for both Green Star and the Republic of Serbia. The project will firmly establish wind as the foremost renewable energy source for the entire region by supplying over 40,000 homes with electricity."
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; “GSAE” or the “Company”) announces Vice President Joe Biden offered Serbia “a strong, new relationship” with the US, along with help in its European Union membership bid. Biden is the most senior U.S. official to visit Belgrade in almost three decades.
"I came to Serbia on behalf of the Obama-Biden administration with a clear message: the United States wants to, likes to, deepen its relations with Serbia," Biden said. "Serbia is central to the southeast European future," he said. "The region cannot fully succeed without Serbia playing a constructively leading role."
Mike Andric, CEO of Green Star Alternative Energy, stated: “Green Star is strategically positioned in the Serbian energy industry and will benefit from the ushering in of a new era with Serbia’s admission into the European Union. This top level visit shows the importance of this nation and the opportunities that it provides.”
GSAE also announces that Del Mar Corporate Communications, LLC will no longer represent Green Star in an investor relations capacity.
Belo Blato Project Description
The Belo Blato Wind Energy Project will be a milestone for the Republic of Serbia. It will be the first wind farm development in the region and will progress the national initiative for increased energy creation from renewable resources. The site is located in the Autonomous Province of Vojvodina and will produce 20 MW of electricity. This undertaking begins the intial phase of energy development and will increase rapidly into other areas being considered for expansion.
Belo Blato project will:
* produce 20 MW of electricity
* deliver energy to an under supplied Serbian market
* provide renewable, made-in-Serbia electricity for generations to come
* help reduce greenhouse gas emissions
* provide local jobs
* provide wheat for the local community
* contribute to local community development
* be a representation of the potential that exists in renewable energy
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; “GSAE” or the “Company”) (www.greenstarae.com) is pleased to announce the installation of the wind measurement tower at the 20 MW Belo Blato site. The NRG System wind sensor is standing at the coordinates of 45 degrees 13’ 7.01” N latitude and 20 degrees 21’ 21.01” E longitude.
The terrain had been carefully analysed and many months of preparation and licensing have culminated in this deployment. The data gathered will provide Green Star the ability to optimize the wind farm design and efficiency. Wellbury was commissioned to execute the placement and construction of our 60 meter tower.
Miodrag Andric, CEO of Green Star Alternative Energy, stated: “We are delighted to see the first tower in place; but this is only the beginning, as we have other locations that require analysis and development.”
About GSAE
Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation’s first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
