Contacts age ENERGY GROUP AG Edward plaintiff relationships to investors + 41 44 500 54 11 Zurich, Switzerland, November 20, 2008 – the age ENERGY GROUP AG (AEG) (FWB: 39F) announces the signing of binding memorandum of understanding on the construction and ownership of five new hydroelectric power stations in Ivano-Frankivsk Oblast in the Ukrainian Carpathians area. The Ivano-Frankivsk projects is a 40 MW, a 20 – MW and a (from three 5-MW small – hydropower plants existing) 15-MW cascade power plant. In the framework of the memorandum of understanding, the AEG owns 100% of works as security for the required investment, estimated currently at 91 million euros. After repayment of the investment amount, the AEG retains 15 years 51% of ownership of the works. Together with its strategic partners, the AEG for the entire implementation of the project and the operation is responsible.
“The electricity produced is fed directly into the national distribution system, the usually power supply” is called. Edward J. Plaintiff IV, which explains the age of energy group, CEO: Signing with regard to these works is our business planning for a significant step forward in the implementation. The market potential for hydropower in the Ukraine is considerable and untapped at present highly. We started together with the municipality, the Institute of water resources and strategic partners, to capture the information and documents and to analyse, that are required to complete the careful consideration of the establishment of this hydroelectric power plants. Also we will have to go through the various procedures, required by the local and federal authorities for realizing these opportunities. In the course of due diligence and the official application process we are dealing also with obtaining investment capital including the securing of project financing. AEG needs this for the transition from the planning to the construction phase.
In this area, we have enormous “Progress made and we are very confident that we have the required investments in light of new strategic relations, which we have recently entered.” Alter energy group (AEG) alter energy group (AEG) is a Zurich-based, publicly-traded company with operations in the Ukraine. The AEG is engaged in the acquisition of and invest in companies and institutions in the Ukraine to renewable energies as well as companies and the energy infrastructure and transmission equipment. For more information, see forward-looking statements the information contained in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including those failed of JEP successfully integrated in the activities of AEG, of present and future capital needs of the company, any action of the partners of the company, for the company of disadvantage are the success of Competitive products, other economic factors affecting the company and its markets, as well as other risks. Actual results may differ materially from those contained in this press release. The company disclaims any obligation to update this press release contained details. The language in which the original text is published, is the official and authorized version. Translations are provided for better understanding. Only the language version, which was published in the original, is legally valid. That’s why match translations with the original language version of the release. Contacts age ENERGY GROUP AG Edward plaintiff relations with investors Web: + 41 44 500 54 11 E-Mail: Please evaluate the age energy Group AG here: newsoftheday /.