SAN DIEGO, CA — (Marketwire) — 06/01/09 — Green Star Alternative Energy, Inc. (PINKSHEETS: GSAE) (“GSAE” or the “Company”) (http://www.greenstarae.com) is pleased to announce the signing of an agreement between the Green Star/Notos JV and the Municipality of Titel. The arrangement allows Green Star to explore the economic viability of the regional wind resources; and upon evaluation, the right to develop wind power and supply the area with clean electricity.
The Municipality of Titel is located in the South Backa District of the Autonomous Province of Vojvodina, Republic of Serbia. The current population is approximately 17,000 people. Titel is of significant interest to Green Star because of its geographical location. Its proximity to the famous Titelski Breg — the location with the highest number of wind hours in the entire Balkan region — provides for major wind power potential. Green Star will raise its wind sensor towers in the municipality during the third quarter of this year.
Director of the Energy Department – City of Titel, Stevan Gecevski, stated: “As an underdeveloped municipality, we need companies like Notos who will raise standards and open our region for further investment and development. We appreciate their efforts and will provide uncompromising cooperation to assist Green Star and Notos in achieving their goals. We will expedite the process with support and any necessary licensing.”
Miodrag Andric, CEO of Green Star Alternative Energy, stated: “We wish to help areas in need, and Titel is one of them. We all agree that there is great potential for developing wind power in this region, and together we will do our utmost to make that happen.”
About Green Star Alternative Energy (PINKSHEETS: GSAE)
Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation’s first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.
FORWARD-LOOKING STATEMENTS
This press release contains ‘forward-looking statements.’ These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as ‘believes,’ ‘expects,’ ‘may,’ ‘will,’ ‘should,’ or ‘anticipates,’ ‘estimates,’ or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company’s plans, goals, the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
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Green Star Alternative Energy, Inc.
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