October 24, 2013 09:00 ET Worldwide Internet to Acquire Solar Project
NEW YORK, NY--(Marketwired - Oct 24, 2013) - Worldwide Internet, Inc. (OTC Pink: WNTR) announced today that it will be acquiring an interest in Pamlico Energy Park from Ludvik Holdings, Inc.
The Pamlico Energy Park is based in Camden County, North Carolina. It is developing up to Five MegaWatt (5MW) of Solar Power. The $10 million project will be 30% financed by Federal Government Credits, 35% financed by North Carolina State Credits and the balance from atwenty five year power purchase agreement from an A rated energy company.
The project is to be managed by one of the largest providers of energy solutions in the United States. They will provide the turn-key engineering, procurement and construction services for the project.The project will provide a significant asset and cash flow for shareholders for the next twenty five years commencing in 2014.
Frank Kristan, President of Worldwide Internet, Inc. stated that:
"This acquisition will provide assets and cash flow for shareholder distributions. We continue to make progress on the transition to a diversified holding company. This continues on the path of our overall strategy to increase shareholder value and provide for distributions to shareholders."
Worldwide Internet, Inc. is currently trading on the OTC Markets (www.otcmarkets.com) under the trading symbol WNTR.
WNTR, Frank & Pamlico have come a long way since this PR. We have been, and are, moving forward as planned back in late 2013. Pike is our project manager and Hanwa Q-Cells is building our solar equipment. The land is ours for decades and we have a very long term 25 year power purchase agreement. The majority of our costs are being covered by federal and state credits. This is turning out be be another home run. Do some DD, Pamlico will be big. Look at Pamlico's partners in the most recent update quoted below. I-Texts and GCHI/Pamlico/E3/Ming Yang are WNTR longs' best Friends. After the GCHI/Pamlico/E3/Ming Yang divy proves good and maybe if we see audited annuals, WNTR will make her next big run. I am happy to sit on my WNTR and collect divs. Accumulate and average down. Frank does what he says he will do. JMO. GLTA. $WNTR!
NEW YORK NEW YORK, September 3, 2014 – Worldwide Internet, Inc. (OTC Pink: WNTR) announced today a shareholder update on Pamlico Energy Park, LLC, that is now part of its portfolio company GCHI Green Company Holdings, Inc.
Pamlico Energy Park LLC (“Pamlico”) has selected Hanwha Q-Cells (www.q-cells.com) for installation in the solar farm to be located in Camden County, North Carolina.
Pamlico has received is approval from the North Carolina Utilities Commission for the initial stage of 1 MW of the 5MW project. Pamlico has also completed the initial lease of the 30 acre property, for the 5MW project, for 15 years with an option to extend an additional 30 years. The project is expected to be in production in the fourth quarter of 2014.
Pamlico has engaged Pike Energy (www.pike.com) for engineering and procurement services. Pike Energy is one of the largest providers of energy solutions in the United States.Pamlico has a power purchase agreement with Dominion Resources (www.dom.com).
The financing of the project is through the Federal Investment Tax Credit for 30% of the project costs, the North Carolina Tax Credit for 35% of the project cost, in addition to depreciation and the sale of Renewable Energy Credits. The initial 5 MW project when completed will be $10m.
Frank Kristan, President of Worldwide Internet, Inc. stated that:
"We are very pleased with our investment in green technology companies. We have strong partners on this project that will provide future dividends for our shareholders.”
About Worldwide Internet, Inc.
Worldwide Internet, Inc. (OTC: WNTR) (www.wdhinc.com). The company is focused on acquisitions of business operations and investments to create a diversified holding company.
About Hanwha Q CELLS
Hanwha Q CELLS is part of the South-Korean Hanwha Group and one of the world’s leading photovoltaics companies. Hanwha Q CELLS offers a wide range of photovoltaic solutions, from solar cells and modules to solar power plants. Hanwha Q CELLS’ products are developed and manufactured at its headquarters in Bitterfeld-Wolfen (Germany) and marketed via its global sales network. It also has a second production plant in Malaysia. For more information, please visit:www.q-cells.com
About Hanwha Group
Hanwha Group, founded in 1952, is one of the largest business enterprises in South Korea and FORTUNE Global 500 company with 53 domestic affiliates and 78 global networks in three major sectors: manufacturing and construction, finance, and services and leisure. With a 60-year track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from basic chemicals and advanced materials to property development and total solar energy solutions. The finance network, covering banking, insurance, asset management and securities, is the second largest non-bank finance group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses. For more information, visitwww.hanwha.com
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