Business & Finance
Business and Finance
Business and Finance
Thu, October 22, 2009
Wed, October 21, 2009 Placer Gold Corp.: Placer Gold Corp., New York State Wind Energy Project
LAS VEGAS, NV--(Marketwire - October 21, 2009) - Placer Gold Corp. (
PGCR is a 10% equity partner in a Joint Venture which recently lodged a high-level proposal with the New York State Government to develop a mega-scale wind project in the Great Lakes region.
Governments are calling for a switch to renewable energy and electric cars and this is one of the only projects large enough to supply the future electric fleet. This proposed wind power project would eventually add 10,000-20,000 MW of new clean power capacity to the New York electrical Grid.
The additional wind power proposed would allow New York State's targeted C02 emissions reductions to be met at a lower allowance cost, saving consumers an estimated $3-$5 billion per year in future carbon taxes.
MULTIPLE 2GW WIND POWER MODULES
The New York State Clean Power project proposes to install a number of connected wind-farms, each with 1-2GW output, over a 10-15 year period.
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 power projects can be completed in stages.
Potential clean energy revenues of approximately $1-2 billion per year could accrue to PGCR if only 1/3 of its current slate of proposed clean power projects are completed.
To view a wind project presentation, please visit: [ http://www.zero-carbon-energy.com/PGCR.htm ]
Additional details on the company's wind power projects expansion will follow.
Please visit [ http://www.placergoldcorp.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.
