LAS VEGAS, Feb. 24, 2011 /PRNewswire/ -- Here Enterprises Inc. (Pink Sheets: HRTE), a growing developer of clean wind energy, is pleased to announce a new direction in the company's renewable energy strategy. Here Enterprises will pursue solar power generation in conjunction with its wind energy project in Floresville, Texas. The Company recently commenced construction of wind turbines at its Cycle Ranch project and now plans to erect solar arrays to maximize the project's potential for profitable clean energy generation.
According to the United States Department of Energy, net electricity generation in the U.S. rose 3% between year-end 2009 and 2010. Net generation of solar-powered electricity, over the same period, increased 44%, and nearly 130% since 2005. (U.S. Energy Information Administration, "Electric Power Monthly", February 2011)
Solar electric energy demand continues to grow due to rapidly declining costs and prices. Economies of manufacturing scale, manufacturing technology improvements, and the increasing efficiency of solar cells have driven cost declines, increasing the attractiveness and viability of solar power generation for Here Enterprises.
Mark Ryun, CEO of Here Enterprises, commented: "Solar power generation is the perfect complement to our wind energy operations, enabling Here Enterprises to maximize power generation and profitability for our Cycle Ranch project. Increasing energy demand, weighed against the high cost of fossil fuel power generation, is creating substantial growth in the alternative energy market. We are excited to enter the solar sector in pursuit of our clean energy objectives."
Here Enterprises acquired its first clean energy development project, Cycle Ranch, in September, 2010. The Company is engaged in building wind energy generation facilities on the Cycle Ranch site in conjunction with its operating, revenue-positive motocross speedway business. The addition of solar arrays is expected to add significantly to the production and profitability of clean energy generated at Cycle Ranch.
About Here Enterprises Inc. (HRTE.PK)
Here Enterprises is a developer of wind power, our nation's fastest growing renewable energy resource. The Company is engaged in planning, developing, acquiring and operating wind farms in the United States to generate clean, profitable wind energy. Here Enterprises is developing wind energy projects which co-locate wind farms with commercial businesses in order to maximize cashflow for each project.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. HRTE has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect HRTE's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the HRTE's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. HRTE undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this press release including such forward-looking statements.
SOURCE Here Enterprises, Inc.