SOURCE: Blue Diamond Ventures, Inc.

September 03, 2009 08:35 ET

Blue Diamond Ventures Submits Preliminary Wind Farm Designs to Public Service Company of Colorado

HOUSTON, TX--(Marketwire - September 3, 2009) - Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV) -- Blue Diamond Ventures, through its affiliate Blue Diamond Ventures Renewables, LLC, and its joint venture partner Freedom Works, LLC, recently gave to the Public Service Company of Colorado preliminary designs to study the feasibility and facility impact of a 198 megawatt wind farm plus 68 miles of transmission line in southern Colorado.

The Public Service Company of Colorado is also studying PSS/e model of the selected wind turbine generators. Discussions with Vestas (our selected turbine manufacturer) and the Public Service Company of Colorado regarding our proposed generator model conclude this week. This final disposition of the modeling will move our interconnection request towards a conclusion of the combined feasibility and site impact study requirements.

Blue Diamond Ventures/ FreedomWorks, LLC JV is currently first in the queue position at the San Luis Valley Substation. Plans are to construct the wind farm and transmission project near La Veta Pass, Colorado. The new transmission line will intertie at the existing substation in San Luis Valley.

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 Ethiopia. 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.

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