Build Green World

Green Star Alternative Energy, Inc. (http://www.greenstarae.com/) announced the negotiations for a 60 MW wind energy partnership project, and potentially other future with Vintim d.o.o., a private Serbian wind research company.

According to Vintim’s research, this project has outstanding historical wind measurements and can produce more than 175 GW/h per year for the Province of Vojvodina. This represents potential gross revenue of over $23 million per annum.

GSAE’s participation may include revenue sharing, a joint venture, or an outright acquisition. Closure is expected within 30 days, more details to follow.

Miodrag Andric, President of Notos, commented, “This merger helps create a ‘made-in-Serbia’ energy leader with the assets, cost structure, and financial strength to compete at the regional level. The combined portfolio boasts one of the largest wind resource positions, a strong Serbian brand, and production assets.”

“More than just a strategic fit, I also believe there is much common ground in our corporate vision,” said Professor Zlatanovic — the man behind Vintim. “Both Notos and Vintim have a history of innovation and pushing the frontiers of wind and green development in Serbia. And just as important, both companies have taken a leadership position in striving to develop not just resources — but also communities, the economy, and our quality of life. We have both put a strong focus on people and our shared environment. I expect that focus to be even stronger as we move forward.”

J. M. De Castro, CEO of Green Star Alternative Energy, stated, “I am pleased with our increase in revenue potential. We are well on our way to fulfilling our corporate plan and delivering greater value to our shareholders.”

Green Star Alternative Energy is a renewable energy producer. The Company is 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 opportunities to provide clean energy to the growing Republic of Serbia and neighboring 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.