SOURCE: Wall Street News Alert

 

WESTON, FL--(Marketwire - December 2, 2008) - Wall Street News Alert's "stocks to watch" this morning are: Welwind Energy International Corp. (OTCBB: WWEI), General Motors Corp. (NYSE: GM), Chevron Corporation (NYSE: CVX) and Advanced Micro Devices Inc. (NYSE: AMD).

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Welwind Energy International Corp. (OTCBB: WWEI) stock traded extremely high volume after it announced Monday final approval for Zhanjiang Wind Farm PPA from local government (see details below)! Now with additional breaking news this morning, investors are urged to watch this stock closely!

This morning, the company issued a press release announcing that it has secured an additional 1400 acres of private land for its Peace Region Project. The company is seeking private land to minimize the environmental process and high costs that are inherent with Crown Land.

Great news for the company! Initially it was announced that the company would be pursuing approximately 13 quarter sections (approximately 2300 acres) of privately owned farmer's field property. After multiple meetings, the company then doubled its land position to 4680 acres (28 quarter sections) earlier this summer. The company has now secured an additional 1400 acres (approximately 10 quarter sections) of land bringing the total amount of land to be secured to 6080 acres (38 quarter sections) enough to build our first phase of approximately 100 MW.

According to the press release, Welwind received an intent to fund all of our projects in China along with the development activities in the Peace region. Funding has been secured at very reasonable terms and rates allowing for additional bottom line revenue for our investors.

The site is located near Dawson Creek, British Columbia and consists of more than 6000 acres. The majority of the project will be situated on private cultivated land. Currently the properties are being used primarily for hay farming and cattle ranching. The company intends to install 2 to 4 meteorological towers on the property early 2009.

The Peace River region is known to be one of the windiest areas in B.C. and is currently being considered by many wind developers, with some wind farms now under construction. The Clean Power Call by BC Hydro indicates that at least 90 per cent of all electricity generated in the Province must continue to come from clean or renewable sources and to achieve electricity self-sufficiency by 2016. The area has been identified by world wind developers, Garrad Hassan, BCHydro as having world-class wind potential.

On Monday the company reported that it has received a letter of final approval from the local regional Mayor for the Zhanjiang Power Purchase Agreement (PPA). According to the press release, as per China's Renewable Energy Law, the Power Purchase Agreement with the local utility is mandated by the central Government of China. Through this legislation, the State officially encourages the construction of renewable energy power facilities. China's electricity grid is obligated to purchase all the electricity generated by approved renewable energy facilities located in its service area. The grid's buying price for renewables is set by the National Development and Reform Commission (NDRC), a regulatory department of the State Council. The company awaits final pricing and terms from the NDRC.

The company is extremely pleased with this development and is assured that we will have this long awaited news from the Province before Christmas along with our construction permit. "Although this only represents approximately 1/8 of our new business plan, this is a paramount achievement for Welwind. We would like to thank our employees and partners for all of their hard work in attaining this monumental accomplishment,'' says Larry McNabb, President of Welwind Energy International.

The details of the PPA will be formally announced within the next few weeks with terms, conditions and pricing.

Investors are urged to continue to monitor the progress of the company!

The stock closed yesterday at around Five cents a share.

In case you are not familiar with the company: Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.

Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.

General Motors Corp. (NYSE: GM) down 0.6% on 58.5 million shares traded. General Motors Corp. is one of the world's largest automaker. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries.

Chevron Corporation (NYSE: CVX) down 6.9% on 22.6 million shares traded. Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business.

Advanced Micro Devices Inc. (NYSE: AMD) down 0.3% on 17.1 million shares traded. Advanced Micro Devices is an innovative technology company dedicated to collaborating with customers and partners to ignite the next generation of computing and graphics solutions at work, home and play.

Market Commentary:

"Driven by additional dreary U.S. economic news and plunging stock markets, oil prices fell to a 3-year low below $48 a barrel Tuesday. By midday in Europe, light, sweet crude for January delivery was down 71 cents to $48.57 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, prices briefly fell to $47.36, the lowest since 2005," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.

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