Global Wind Energy expects to invest up to $100 million in Greece

Global Wind Energy Ltd. (GWE), a joint venture owned in equal shares by Ampal-American Israel Corporation (Nasdaq: AMPL; TASE:AMPL) and Clal Industries and Investments Ltd. (TASE: CII) unit Clal Energy Ltd, has won a license from Greece’s Regulatory Authority for Energy (RAE) for a 42-megawatt wind farm. This is the first wind farm license awarded by the RAE.

On June 10th, GWE submitted to RAE (Regulatory Authority for Energy) Greece, three applications for production licenses with total wind power capacity of 50 MW.

Two of the projects regarding which applications were submitted, are located in Viotia prefecture (not far from Delphi), another is located in Karditsa prefecture (not far from Zygourolivado – another wind site of GWE).

These applications for production licenses, are part of a strategic decision of GWE to significantly enlarge its portfolio of wind farms. GWE intends to submit additional applications for production license in 2009.

Prior to the submission of the applications , Wind measurements of at least one year were completed for each of the sites.

Ampal and Clal Energy founded GWE in late 2007 to develop and build renewable energy projects around the world. The license from RAE will allow the company to sign long-term power production agreements to Greek power companies. GWE will also have priority rights to the wind farm’s land, under the provisions of Greek law, when the project begins.

GWE has applied for additional wind farm licenses in Greece, Poland, and other European countries for a total electricity production of 250 megawatts.

GWE Poland, a subsidiary of GWE Ltd, has completed 3 months of wind measurement at its potential wind site near Konin, Poland. Measurements were obtained from an 80M mast that was installed on-site in March 2009. from the time that GWE Poland installed the 80M mast through the present date the measuring equipment has been functioning perfectly. Interim results have verified the wind speed predicted by the Wind Atlas.