DGAP-News: World Energy Holdings&Research PLC announces acquisition by its subsidiary World Energy H
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World Energy Holdings&Research PLC announces acquisition by its
subsidiary World Energy Hydro Limited of four Central American Hydro
Electric Power Plant Projects
12.05.2011 / 07:45
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World Energy Holdings&Research PLC announces acquisition by its
subsidiary World Energy Hydro Limited of four Central American Hydro
Electric Power Plant Projects.
May 2011, Guatemala
World Energy Holdings&Research PLC ('WEHR' or the 'Company') is pleased
to announce that its wholly owned subsidiary World Energy Hydro Limited
('WEH') acquired on 10 May 2011 a 99.99% stake in each of World Energy El
Islan, S.A., World Energy Sosi, S.A., World Energy Ixtaguacan, S.A., and
World Energy Semuc, S.A. from World Energy Research Guatemala Hydro Pack 1
LP ('Hydro Pack LP').
These special purpose entities have the rights respectively to construct,
develop, and operate the following Hydro Power Plants (together, 'Hydro
Pack projects'):
- Hidroeléctrica El Islán on the El Islán River in the Municipality of
Cuilco, Department of Huehuetenango, Guatemala.
- Hidroeléctrica Sosi on the Nahuatan River in the Municipality of
Pajapita, Department of San Marcos, Guatemala.
- Hidroeléctrica Ixtaguacan on the Las Cataratas River in the
Municipality of Chajul, Department of Quiché, Guatemala.
- Hidroeléctrica Semuc on the SamiljáRiver in the Municipality of Santa
Catalina La Tinta, Department of Alta Verapaz, Guatemala.
WEHR has estimated:
- combined net profits from the first 10 power-generating years of the
Hydro Pack projects of approximately US$100 million;
- remaining combined total construction and other completion costs of
approximately US$50 million;
- an initial 10 year power purchase agreement for each project; and
- a project life on each project of up to 50 years.
The purchase price of US$50,205,000 payable by World Energy Hydro Limited
was ultimately satisfied by the issue by WEHR to Hydro Pack LP of
approximately 1 million ordinary shares and 9.78 million restricted
ordinary shares.
'The acquisition of these project interests significantly strengthens
WEHR's Hydro division. Working towards completion of these projects will
be the Company's primary focus in the coming months. ' says WEHR Chief
Financial Officer Andy Somoza.
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 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 statementsof 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
End of Corporate News
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124206 12.05.2011
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Datum: 12.05.2011 - 01:45 Uhr
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