Blue Diamond Ventures Identifies Key Funding Sources and Energy Markets in California for Huerfano Wind Energy Project
February 08 2010 - 8:35AM
Marketwired
Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) -- Blue Diamond
Ventures, through its affiliate Blue Diamond Renewables, LLC, has
identified key next-level funding sources for its interest of the
proposed 198-megawatt wind project, plus 68 miles of transmission
line in Huerfano County, Colorado.
Last year, wind study results for the joint venture's Huerfano
Project -- proposed on more than 8,000 acres -- came back highly
favorable -- with wind speeds representing some of the best in
Colorado. The data for the project is available at:
http://www.engr.colostate.edu/ALP/ALP_62_Sheep_Mountain.htm.
"We have essentially taken a project from being a good business
plan and strategically moved it toward actualization and
implementation, which is not easy," said Blue Diamond CEO John
Quincey Moaning. "Bringing inherent value is paramount when you are
seeking next-level financing."
To date, Blue Diamond Renewables, LLC, has been the principal
funding source for the proposed $420 million project in Southern
Colorado, financing the wind studies analyzed by Karbon Zero, LLC,
interconnection feasibility and site studies for GI-2008-6
interconnection request with the Public Service Company of
Colorado, and PSCo generation interconnection request (GI 2008-6)
for 198 MW intertie, thus, securing the current #1 queue position
at San Luis Valley Substation.
Along with identifying key markets in California to sell the
power, Blue Diamond Ventures has also covered costs for legal
services, consultants and other fee requirements.
Moaning further added, "If America's economy is to recover and
sustain, our business model must be developed around energy. This
will require, in most cases, unpopular leadership, focus,
determination and the bold resolve to bring America into the 21st
Century -- despite them kicking and screaming."
Blue Diamond said it is also proceeding with its proposed
renewable energy projects in the Caribbean and Africa.
About Blue Diamond Ventures, Inc.:
Blue Diamond Ventures, Inc. is an agricultural company, and
through its affiliate, Blue Diamond Ventures Biofuels, LLC,
conducts business as a biofuels company with operations in the U.S.
and future endeavors in the Caribbean and Africa.
This press release contains forward-looking statements involving
risks and uncertainties, including statements regarding the
Company's future performance. Such statements are based on
management's current expectations and are subject to certain
factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to
or implied by such statements. In addition, actual future results
may differ materially from those anticipated, depending on a
variety of factors which include, but are not limited to, our
ability to leverage our technology, manage our growth, protect our
intellectual property rights, attract new customers and general
economic conditions affecting consumer spending. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company
does not intend to update any of the forward-looking statements
after the date of this release to conform these statements to
actual results or to changes in its expectations, except as may be
required by law.
CONTACT: Blue Diamond Ventures, Inc. John Moaning CEO (713) 493
- 2587
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