LAS VEGAS, NV -- 11/03/09 --
Placer Gold Corp. (PINKSHEETS: PGCR), the
"Company," is securing new renewable energy business opportunities.
PGCR is a 10% equity partner in a Consortium that recently lodged a
high-level proposal with the Wisconsin State Government to develop a large
wind project on a
4,000-square-mile windswept area of Lake Michigan.
This project is of large enough scale as to provide substantial industrial
and job growth in Chicago and Wisconsin.
The JV Applicants control a newly developed 20MW floating wind turbine
design that could make the Great Lakes Class 3 wind resources financially
viable by accelerating the ambient average windflow from approximately 16
mph average speed to 30mph average at the turbine blade, thus increasing
energy output by 400% per square ft of blade.
The Wisconsin, Lake Michigan clean power project would be completed in
stages over a 25-year period, consisting of a number of connected
wind-farms, each with 10,000MW output.
The project's capital cost is estimated at 1/4 of a nuclear, coal or
conventional wind plant. The wind-fuel is free.
FINANCING: 30% of the capital cost of wind projects is currently available
as a government grant. Renewable energy loan guarantees are also
available.
This proposed wind power project would eventually add 50GW+ of new clean
power capacity to the Electricity Grid to power Chicago and Milwaukee homes
and GM's future electric vehicle fleet.
The additional wind power proposed would allow Great Lakes region targeted
C02 emissions reductions to be met at a lower allowance cost, saving
consumers an estimated $3-$5 billion per year in future carbon taxes.
To view a wind project presentation please visit:
http://www.zero-carbon-energy.com/PGCR.htm
http://www.placergoldcorp.com/
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform Act of
1995. Actual results may differ from management's expectations. These
forward-looking statements involve risks and uncertainties that include,
among others, risks associated with resource exploration risks related to
competition, management of growth, new products, services and technologies,
potential fluctuations in operating results, international expansion,
commercial agreements, acquisitions and strategic transactions, government
regulation and taxation. More information about factors that potentially
could affect PGCR's financial results is included in its filings with the
Securities and Exchange Commission.
Contact:
Peter Sterling
323-356-7777
Email Contact