SOURCE: Green Energy Resources

September 29, 2005 10:26 ET

Spain to Double Biomasse Renewable Energy by 2010

Green Energy Resources to Share in 23 Billion Euro Investment

HUNTINGTON, NY -- (MARKET WIRE) -- September 29, 2005 -- Green Energy Resources (OTC: GRGR) citing Greenprices news, has learned Spain will invest 23.5 billion euros in renewable energy by 2010. Spain's plan is to double its renewable energy portfolio and make biomasse the centerpiece of the investment. The commitment represents nearly 10,000 megawatts of power, the equivalent of 1 billion tons of biomasse annually. Green Energy Resources has an office in Spain and has been working to increase biomasse imports to the country over the last two years. Green Energy Resources has already received a trial order for logistical purposes and plans exports to the country in 2006. Green Energy Resources CEO, Joseph Murray, heads to Madrid, Spain in October.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

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