Here Enterprises, Inc. today announced the Company is developing its first wind farm in order to meet the growing need for clean energy. In its 2010 International Energy Outlook, the United States Department of Energy projects global energy consumption will increase 49% by 2035. Here Enterprises believes wind can play an integral role in meeting rising electricity demand while significantly reducing greenhouse gas emissions.
Here Enterprises’ strategy is to co-locate wind energy facilities with commercial businesses in order to generate cashflow from the production of clean energy as well as from the businesses operating onsite. The Company recently acquired its first wind energy development project, Cycle Ranch, where it intends to develop a wind farm at Cycle Ranch Motocross Park, a popular commercial speedway with ongoing revenue near Floresville, Texas.
According to the World Wind Energy Association, the wind market saw robust growth in the first half of 2010, with approximately 16 gigawatts of new capacity added worldwide. The total capacity of all wind turbines installed reached 175 gigawatts in mid-2010, compared with 159 gigawatts by the end of 2009. Global capacity is expected to reach nearly 200 gigawatts by year end. (World Wind Energy Association, “16 Gigawatts of Wind Power Added in First Half of 2010”, October 19, 2010)
The United States added 395 megawatts (MW) of wind power in the third quarter of 2010, according to the American Wind Energy Association. With 1,634 MW installed through the end of September, the total installed utility-scale wind capacity through the third quarter was 36,698 MW. Over 6,300 MW is now under construction, so the U.S. is likely to end 2010 with over 5,000 MW completed. (AWEA, Third Quarter Market Report, October 2010)
Mark Ryun, CEO of Here Enterprises, commented: “Clean, renewable wind power can dramatically reduce CO2 emissions, stabilize power prices and increase energy security, and ramp up to meet increasing requirements. At Here Enterprises we believe wind will play a critical role in solving our energy challenges and we are committed to leveraging this advantageous green energy resource.”
About Here Enterprises, Inc. (HRTE.PK)
Here Enterprises is a developer of wind power, our nation’s fastest growing renewable energy resource. The Company is engaged in planning, developing, acquiring and operating wind farms in the United States to generate clean, profitable wind energy. Here Enterprises is developing wind energy projects which co-locate wind farms with commercial businesses in order to maximize cashflow for each project.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. HRTE has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. These statements reflect HRTE’s current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the HRTE’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. HRTE undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements.
