Business & Finance
Business and Finance
Business and Finance
Wed, October 14, 2009
Tue, October 13, 2009 Placer Gold Corp.: Placer Gold Corp., Canada Atlantic Wind Energy Project
LAS VEGAS, NV--(Marketwire - October 13, 2009) - Placer Gold Corp. (
PGCR is a 10% equity partner in a Joint Venture which recently lodged a high-level proposal with the Canadian Federal Government to develop a mega-scale wind project in Canada's Atlantic Coast region.
Governments are calling for a switch to renewable energy and electric cars. This proposed mega-scale project is large enough to supply 10% of North America's future electric car fleet.
The additional wind power proposed would allow Canada and America's targeted C02 emissions reductions to be met at a lower allowance cost, saving consumers an estimated $10-$20 billion per year in carbon taxes.
MULTIPLE 10GW WIND POWER MODULES
The Canadian Atlantic Clean Power project proposes to install an increasing number of wind-farms, each with 10GW output, over a 25 year period, making them the largest proposed wind power projects in the world.
Electricity would be sold to Canadian and US Eastern Seaboard markets.
The annual wind force in the lease application area is higher than other wind-farms, creating double the annual electricity output and significantly higher profitability.
The project's capital cost is estimated at 1/4 that of a nuclear, coal or conventional wind plant. The wind-fuel is free and forever.
Construction timelines are much shorter than for conventional power projects and can be completed in stages.
Potential clean energy revenues of approximately $1-2 billion per year would accrue to PGCR's 10% equity when completed.
The company has a 10% equity in the proposed project and an option to increase its equity to a 20% interest for the issuance of 25 million restricted shares.
Please visit: [ http://www.zero-carbon-energy.com/ ]
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks associated with resource exploration risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect PGCR's financial results is included in its filings with the Securities and Exchange Commission.
