gpe article from newspaper pdf file, page-2

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    gpe announcement - opening of power plant 23 March 2004
    Official Opening of the World’s first Green
    Waste to Energy Power Plant
    The World’s first green waste-to-energy power plant is being
    officially opened by the Honourable Mr Stephen Robertson MP,
    Minister for Natural Resources, Mines and Energy today.
    Consumers can now use a much more economical form of clean, environmentally
    friendly energy to heat and light their homes, thanks to Green Pacific Energy’s
    (GPE) breakthrough green energy power plant.
    Located in Stapylton, Queensland, the power plant uses Green Pacific Energy’s
    unique, patented process and the Fluidised Bed Combustion (FBC) technology to
    generate clean and environmentally friendly energy from green wastes. These
    include branch trimmings, tree prunings or other green waste that are collected from
    suburban households.
    The Stapylton power plant has earned Green Power Accreditation from the New
    South Wales Government’s Sustainable Energy Development Authority (SEDA) as
    well as approval for renewable energy credits from the Office of Renewable Energy.
    GPE will soon commence construction of 5 fully approved green energy projects,
    totalling 85 MW to power 80,0000 households across Australia.
    GPE also has a further 16 green energy power projects in its portfolio totalling
    290MW, in different stages of approval across Australia.
    GPE has already secured long-term power purchase agreements with Energy
    Australia, and fuel supplies are provided for under long-term agreements with various
    green waste suppliers.
    Each of GPE’s trademark 20 MW green power plants is estimated to produce an
    annual revenue of approx $14 million, based on the terms of the current power
    purchase agreement, with a net profit after tax of approx $4 million per annum.
    GPE is also preparing to begin construction of a coal gasification plant in Dalian,
    China. Under the Gas Purchase Agreement, the Dalian plant is expected to produce
    an annual revenue of approx $33 million and a net profit after tax of $10 million per
    annum.
    It is important to note that GPE is currently awaiting an independent valuation of the
    company’s Intellectual Property and patents (“IP”), which relate to the FBC
    technology and generation processes. This value has not been taken into account in
    any of GPE’s financial projections. The value of any future Carbon Credit Benefits
    has also been excluded.
    Information from the independent valuation will shortly be released to the market in
    the form of an Independent Research Report.
    As a testament to GPE’s value and long term potential, one of the company’s
    strategic partner, TechComm Simulation (subsidiary of Yokogawa) has recently
    committed to a share equity placement in all of GPE’s additional green waste-toenergy
    projects. The shares will be issued at not less than 35 cents per share.
    With the well proven FBC technology, a large portfolio of approved projects to
    ultimately deliver 400MW of clean energy to Australian households, and the capacity
    to expand overseas through the Dalian coal gasification plant in China, GPE is well
    positioned to become a leader in the renewable energy industry.
    -ENDSFurther
    information:
    Media:
    David McGrath (02) 9566 0216 or 0410 770 569 (m)
    Corporate:
    Edwin Yeung, Corporate Secretary
    Peter Gan, Chief Operating Officer
    Phone: 02 92023000
    Or visit our website
    www.greenpacific.com.au
 
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