PRAEKASA MUENG, THAILAND--(MARKET WIRE)--Apr 8, 2009 -- Resource Group International Inc. (Other OTC:RSGR.PK - News) today announced that the Company has targeted the Chinese market to expand its wind power initiatives over the next several months.
RSGR expects to reap some of the planned expansion plans in China for renewable wind power and to tap into the $265 billion earmarked by the Chinese Government for these projects.
China expects renewable energy to provide 15% of its needs by 2020, and it plans to spend $265 billion to meet this target. Wind power will be a significant part of this programme.
According to the 2007 "China Wind Power Report":
China has chosen wind power as an important alternative source in order to rebalance the energy mix, combat global warming and ensure energy security. Supportive measures have been introduced. In order to encourage technical innovation, market expansion and commercialisation, development targets have been established for 2010 and 2020, concession projects offered and policies introduced to encourage domestic production.
By the end of 2006, cumulative installed wind capacity had reached 2.6GW; the average annual growth rate over the past ten years has been 46%. Between 2004 and 2006, China's ranking in the world wind energy league moved up from the top 10 to the top 6, and the country is planning to host some of the biggest wind farms in the world.
By the end of 2007 China had wind power generating capacity of 5.6GW, and some estimates are that the country will have 70GW of capacity by 2020. It has already led to a huge boom in business, with some of the big global names in wind power among the beneficiaries, thanks to early decisions to launch production inside China.
"The potential of the China market for RSGR is significant and will be a large role in the expansion plans of the company" states Gregory J. Curry, President of Resource Group International. "We are excited by the opportunities and the possibilities that exist in that market and the ability for us to compete and succeed in that market."
About Resource Group International Inc.
Resource Group International is a multi-faceted corporation that is developing businesses in the energy, power and food sectors around the world. Resource Group specialized in the research, discovery, development and commercialization of proprietary technologies that will enhance the production and efficiency of business in the energy and food sectors. Resource Group's goal and vision is to become a major player and the world's leading developer of breakthrough products in the energy, power and food businesses.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
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