World Energy Holdings & Research PLC : World Energy El Islan S.A. enters agreement for the purchase of El Islan hydroelectric power plant turbines from Gugler Water Turbines GmbH
DGAP-News: World Energy Holdings & Research PLC / Key word(s): Miscellaneous World Energy Holdings & Research PLC : World Energy El Islan S.A. enters agreement for the purchase of El Islan hydroelectric power plant turbines from Gugler Water Turbines GmbH
31.03.2011 / 14:30
World Energy El Islan S.A. enters agreement for the purchase of El Islan hydroelectric power plant turbines from Gugler Water Turbines GmbH
On 31 January 2011 World Energy Holdings & Research PLC ('WEHR' or the 'Company') announced the signing of a Letter of Intent by its subsidiary World Energy Hydro Limited to acquire controlling interests in 5 Hydro Electric Power Plant special purpose entities in Central America, including a 75% stake in World Energy El Islan S.A. ('El Islan S.A.').
While due diligence and negotiations concerning this proposed acquisition remain ongoing and completion of the acquisition would be subject to WEHR shareholder approval, WEHR is pleased to announce in conjunction with El Islan S.A. that El Islan S.A. has entered into an agreement to purchase two 1875 Kw spiral turbines from leading Austrian firm Gugler Water Turbines GmbH ('Gugler' - http://www.gugler.com). The turbines are a material component of the El Islan hydroelectric power plant project where the agreement with Gugler provides for their supply, delivery and installation by Gugler on a wire-to-water basis.
'This is a significant step towards completion of the El Islan hydroelectric power plant in Guatemala and underpins our desire for WEHR to acquire El Islan S.A.' says WEHR CEO Edgar Perez.
About World Energy Holdings & Research PLC
World Energy Holdings & Research PLC (ISIN GB00B50QMR32, WKN A1C9BX, 0WE) is a public limited company incorporated in England focusing on the development of power plants, specifically in Central and Latin America. World Energy Holdings & Research PLC is admitted to trading on the Frankfurt Stock Exchange's Entry Standard (Open Market) under symbol '0WE' (Zero 'W' 'E'). http://www.wehr.com
Disclaimer:
This press release is solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy any securities of WEHR. No regulatory authority has approved the press release.
This press release contains forward-looking statements. Forward-looking statements are not statements of historical fact and reflect the current assessments, views, assumptions and beliefs made by WEHR or its officers according to the information available as of the date of this press release about future events, operating performance, financial condition, business strategy, WEHR's plans and objectives for future operations and the industry in which it operates. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause actual outcomes to differ materially from those suggested in this press release. WEHR undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future events or developments or otherwise. All subsequent written and oral forward-looking statements attributable to WEHR and those acting on its behalf, are expressly qualified in their entirety by the foregoing.
Enquiries to:
World Energy Holdings & Research PLC Brandon Francis, VP of Global Relations Tel: +502-2378-6400
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117878 31.03.2011
ISIN GB00B50QMR32
AXC0237 2011-03-31/14:30
