Jul. 27, 2009 (TheNewswire.ca) —
Kalahari Greentech Inc. (“Kalahari”)(KHGT.PK), a global energy company, today announced its plans to build solar power (OTCBB:SOPW) energy plants in West Africa, a region in dire need of clean, reliable energy sources.
The company will partner with a series of local enterprises to deliver solar energy throughout the region, where the demand for modern energy sources is extremely high. Many areas in West Africa suffer from constant blackouts, and when energy fails, it interferes with businesses and essential services such as schools and hospitals, often costing thousands of dollars in business and sometimes costing lives when there is a blackout.
Access to modern energy sources can alleviate poverty and in some cases save lives in Africa, and therefore the political climate for solar energy projects is favourable, encouraging investment to the region. There are a number of government-sponsored initiatives under way that are training local engineers and technicians to design, install, operate and maintain solar energy systems, and just last month the member states of the Economic Community of West African States (ECOWAS) announced that they will be establishing a regional centre for renewable energy.
Furthermore, the global solar energy market is extremely favourable. A recent Specialists in Business Information report estimated that the solar energy market will achieve triple-digit growth to nearly $12 billion by 2012. The growing revenues are fuelled by increased technological advances, increasing private-sector investment, and growing government support. Furthermore the ever-higher non-renewable energy prices, ever-lower solar prices, climate change, energy security, a solidifying market structure, solar stocks on fire, and the U.S. federal government increasingly backing solar energy development (OOTC:EGDCY) , continue to drive this exciting emerging market.
The CEO for Kalahari, says, “Building solar energy plants in West Africa is both a financially and socially lucrative venture. Given the current low levels of electrification and the demand for energy, the potential for projects and profits in the region is great. But more importantly, by delivering clean, safe, reliable energy to West Africans, Kalahari can play a proud part in vastly improving the quality of life for the populations of these developing nations.”
About KALAHARI Kalahari is an energy company developing, constructing and operating renewable energy projects. Kalahari is active throughout the entire renewable energy value chain, as such an integrated business (OOTC:IGRB) model ensures the greatest value creation for the shareholders. Kalahari is also active during the operational stage because this will enable the Company to achieve stable income and cash flows, which in turn is a prerequisite for building new capacity. FORWARD-LOOKING STATEMENTS: Statements about Kalahari’s future expectations and all other statements in this press release other than historical facts are “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 as the term is defined in the Private Litigation Reform Act of 1995. Kalahari’s actual results could differ materially from expected results. Kalahari does not undertake any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective, Kalahari will appropriately inform the public.
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