| News GREENHUNTER WIND ENERGY WINS CAPACITY GRAPEVINE, TEXAS, AUGUST 26, 2008 – GreenHunter Wind Energy, LLC, a wholly-owned subsidiary of GreenHunter Energy, Inc. (AMEX: GRH) announced today the recent auction results for new power transmission capacity on the “to be built” Wyoming-Colorado Intertie power transmission line, also known as “WCI”. The WCI power transmission line will be the first transmission line built in this region of the country in over five years. The new WCI line is estimated to be in service by year 2013. A section of the line will run within 15 miles of GreenHunter Wind Energy’s previously announced “Wheatland Wind” project (see press release dated July 15, 2008), located on approximately 20,000+ acres of federal BLM land situated near the town of Wheatland, Wyoming. The “Wheatland Wind” project has the potential to be up to 600 MW in wind generation capacity. GreenHunter Wind Energy, LLC will own 65% of the Wheatland Wind project and the Southern Ute Growth Fund, a significant shareholder of GreenHunter Energy, will own the remaining 35% of this project. Commenting on GreenHunter Wind Energy winning capacity in the WCI power transmission auction, Stephen A. Wiley, President of GreenHunter Renewable Power, LLC, stated, “We believe our recent success in the Wyoming-Colorado Intertie power transmission auction is a real coup for GreenHunter Wind Energy. By winning the capacity on a planned transmission line of this magnitude, we believe we have added significant value to our proposed 20,000 Wheatland, Wyoming wind development project. This auction and the ensuing contract we have entered into is essentially a reservation to transmit power on the WCI power transmission line into a market that we believe shows very promising demand for renewable power.” Forward-Looking Statements Any statements in this press release about future expectations and prospects for GreenHunter Energy and its business and other statements containing the words “believes”, “anticipates”, “plans”, “expects”, “will” and similar expressions constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the substantial capital expenditures required to fund its operations, the ability of the Company to implement its business plan, government regulation and competition. GreenHunter Energy undertakes no obligation to update these forward-looking statements in the future. # # # GreenHunter Energy is focused on the renewable energy sectors of wind, hydro, geothermal, solar, biofuels, and biomass power plants. Our assets consist of leases of real property for future development of wind energy projects located in Montana, New Mexico, California, Texas, wind development projects in Wyoming and China that we believe will be acquired in the future, the nation’s largest biodiesel refinery located in Houston, Texas, and a cow manure-fired power plant located in Brawley, California. Headquartered in Grapevine, Texas, GreenHunter Energy was formed to be the first publicly traded renewable energy company based in the U.S. that provides to investors a portfolio of diversified assets in the alternative energy sector. Additional information about GreenHunter Energy may be found at www.greenhunterenergy.com. # # # For Further Information Contact: |
||||||||