Replies to post #93 on Gold Hill Resources Inc. (fka GULD)

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GSAE PR December 8, 2008 - 9:29 AM EST

Green Star Alternative Energy Announces Notos to Purchase Photo Voltaic Manufacturing Facility

Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) announces Notos d.o.o.’s newest subsidiary (Notos Solar d.o.o.) has executed a letter of intent with Nanenergy Hungary Ltd. for the acquisition of a turnkey Thin Film Photo Voltaic (TFPV) manufacturing facility. In addition to the initial purchase of a 5 MW production plant, Notos Solar has negotiated the exclusive rights to this TFPV technology for the countries of the Republic of Serbia and Macedonia.

Nanenergy Hungary Ltd. has developed a thin film photo voltaic module that provides superior performance in the conversion of the sun’s energy to electricity. Nanenergy’s experience in developing this technology has led to greater manufacturing efficiency and has translated to decreased production costs and greater profitability. The modular design of the production facility allows for an ease of expansion in 5 MW increments to upwards of 100 MW of TFPV manufacturing capabilities. The European and worldwide shortage of solar paneling is driving the solar industry’s production expansion.

Based on prior construction and implementation timelines, Nanenergy estimates that Notos Solar may begin full-scale manufacturing within ten months. This includes the assembly of all infrastructures and equipment, as well as all necessary training of personnel.

On behalf on Nanenergy Hungary Ltd., Dr. Zoltan Kiss stated: "We are happy to be in partnership with Notos Solar in expanding our proven technology – which is the most energy efficient thin film paneling in the world. Also, by expanding into the very lucrative region of South-East Europe, which has some of the highest ratios of sunshine per hour in Europe, Notos Solar and Nanenergy are building a very strong platform for future developments in the region."

Miodrag Andric, President of Notos, stated: “Notos Solar will be acquiring this highly advanced 5 MW Thin Film Photo Voltaic manufacturing facility and provide the region with its first solar paneling plant. The Republic of Serbia’s Ministry of Energy has determined that Serbia’s average sun radiation is 40% higher than that of Europe. Notos is positioned to begin harnessing this potential in 2009.”

J. M. De Castro, CFO of Green Star Alternative Energy, commented: “This new opportunity for Green Star and Notos increases the Company’s energy portfolio and creates a new source of revenue that will raise value for our shareholders.”

About Green Star Alternative Energy (GSAE.PK)

Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the import and export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power to the growing Republic of Serbia and neighbouring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of only a few companies licensed to trade electrical power into and out of Serbia, the only company in Serbia able to generate and export its own wind energy, and the nation’s first developer of wind power.

FORWARD-LOOKING STATEMENTS

This press release contains 'forward-looking statements.' These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.


Green Star Alternative Energy, Inc.
Jesse De Castro, CFO
1-866-955-GSAE (4723)
[e-mail]



Source: Business Wire (December 8, 2008 - 9:29 AM EST)

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