Business & Finance
Business and FinanceBusiness and Finance 
Mon, November 16, 2009
LAS VEGAS, NV--(Marketwire - November 16, 2009) - Placer Gold Corp. (
WIND ENERGY DIVISION, CANADIAN GREAT LAKES PROJECTS:
PGCR is a 10% equity partner in a Consortium which recently lodged a high-level proposal with the Canadian Government to develop large wind projects on the approximately 20,000 square miles of windswept areas of the Great Lakes controlled by Canada.
This completes PGCR's flagship Great Lakes Wind Power Projects application process, as essentially all of the developable wind resources of the Great Lakes on both the Canadian and US sides of the Great Lakes are now covered by the Consortium's various Applications.
The Great Lakes could become PGCR'S flagship wind project in North America due to the following attributes:
-- Lower average wave height and fresh water makes for easier development than oceanic offshore wind locations. -- Large potential electricity consumer customer base and existing grid infrastructure immediately adjacent to the resources. -- Super-giant Class 3 wind resource covering approximately 40,000 square miles. -- Attractive government financing and grants availability. -- Massive long-term job creation potential. -- Large pool of available unemployed job seekers in the immediate vicinity with State and National governments more development-friendly as a result of the depression. -- Significant currently idle industrial capacity. -- Massively expanding future need for lower-cost green electricity to power the future electric vehicle fleet, which the Federal government and car industries are investing heavily in. -- Scalable development plans mean initial investment requirements are low. -- No perceivable negative environmental effects. -- Significant environmental benefits due to zero-carbon emission electricity generation. -- Turbines will be placed far enough away from populated areas to reduce any visual impacts. -- New Turbine designs are visually appealing. -- Consumers are expected to welcome the chance to secure North America's Energy Independence and eventually eliminate the need for 5 million barrels per day of imported oil.
The consortium will shortly invite larger electrical utilities, as well as energy companies looking to diversify from fossil fuels to join the consortium to move the project forward.
This partnering process will involve negotiations with commercial and government interest groups as well as unions looking to put workers into the estimated 500,000 secure renewable energy jobs this project could create around the Great Lakes.
The company estimates that development of each of the Great Lakes wind resources could supply a total of 500GW of new power capacity; green electricity North America needs to power the emerging future electric vehicle fleet.
The Great Lakes Wind power projects would be completed in stages over a 25-year period, consisting of a number of connected wind-farms, each with up to 10,000MW output.
To view the most recent GREAT LAKES WIND POWER PROJECT presentation visit:
[ http://www.zero-carbon-energy.com/PGCR.htm ]
[ http://www.placergoldcorp.com/ ]
To view a report on green energy jobs creation visit: [ http://www.bluegreenalliance.org/admin/private_publications/files/BGA-Phase-II-Report-PRINT.pdf ]
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.