Release date: 2009-08-10

Green Star Energy to be First Developer of Wind Energy in Serbia

(PRZOOM - Press & Newswire) —  Winston-Salem, NC, United States, 2009-08-10 - Green Star (GSAE) is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighboring European countries


Green Star Alternative Energy (GSAE) focuses on developing renewable electricity in Europe, the United States, and China.

It produces energy from wind, water, and sunlight.
GSAE 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 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.

GSAE's energy is a pollution-free and infinitely sustainable form of energy. It does not use fuel; it does not produce greenhouse gasses; and it does not produce toxic or radioactive waste.

Policies to promote renewables have mushroomed in recent years. At least 66 countries – 43 developed and 23 developing countries – have some type of policy to promote renewable power generation. Last year, the areas of largest annual investment were Europe, China, and the United States. With over 71 billion dollars of new investment and an overall growth rate of 15%, the renewable energy sector is gaining credence among private investors looking for growth in the next big industry.

GSAE Investor Highlights
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 initial phase of energy development and will increase rapidly into other areas being considered for expansion.

Announced the signing of an agreement between the Green Star/Notos JV and the Municipality of Veliko Gradiste. The arrangement allows Green Star to the right to develop wind power and supply the area with green electricity.

GSAE announced that initial wind velocity information, from the Company’s Belo Blato wind farm site, exceeded expectations and prior figures. Further analysis over the third quarter will further refine the wind energy potential.

Announced the signing of non-disclosure agreements between the Green Star/Notos JV and Gamesa Eolica S.L.; as well as between the Green Star/Notos JV and Elektrawinds.

Gamesa is one of the main wind turbine manufacturers worldwide and is a leader in the design and development of these turbines. Gamesa has installed more than 16,000 MW of its main product line in 20 countries spread out over four continents.

Elektrawinds is currently the largest private company in the Belgian renewable energy market and was established in 1998. Elektrawinds produces, sells and distributes green power generated from inexhaustible clean energy resources such as wind, sun and organic matter.

Announced that the Company will be attending COP15 – United Nations Climate Change Conference where representatives from over 150 countries will meet in Copenhagen, Denmark to replace the now expiring ‘Kyoto Climate Treaty’.

Announced that the initial micro location for placement of the Company’s wind sensors has been identified in the settlement of Ram, and the Municipality has allotted 200 hectares of land towards this endeavor.

GSAE's energy is a pollution-free and infinitely sustainable form of energy. It does not use fuel; it does not produce greenhouse gasses; and it does not produce toxic or radioactive waste.

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