Native American Energy Group, Inc. (the "Company," or "NAEG") (Pink Sheets: NVMG), an independent energy company, reported today that the newly proposed construction of a 203-mile-long transmission line tying Alberta into the U.S. power grid in Montana may be the solution that allows NAEG to tap the potential for wind and solar generation in Montana.
One of Native American Energy Group's near-term goals is to begin joint- venturing renewable energy projects on several Indian reservations throughout Montana and the Northwest in which NAEG will serve as Master Developer. NAEG has secured relationships with cutting-edge solar and wind power technology providers for the creation of wind farms and energy parks. The Company found, however, that despite a need for 100,000 megawatts of energy on the West Coast, a problem impeding execution has been a severe shortage of transmission line capacity.
Now, a company from the private sector that was formed to finance large infrastructure projects, developer, Montana Alberta Tie Ltd., is proposing a "big, bulk power movement" type transmission line that is capable of alleviating the backlog of transmission capacity needs in Montana. Construction could begin later this year, allowing NAEG to move forward with its alternative green energy projects.
The following article, "Billion-dollar boon: Montana Alberta Tie would open door to flood of wind projects" by Karl Puckett was taken from the Great Falls Tribune.
"This is great news for NAEG," said Raj Nanvaan, Chief Financial Officer of Native American Energy Group. "If it goes through Montana, it concerns us because the problem has been transmission line capacity. If this succeeds here it will encourage transmission development in other parts of the state and other parts of the country, which is exactly what we need for the successful implementation and expansion that we have planned to serve the various tribes, so this is critically important. The planning and development of energy parks will provide energy and revenues for NAEG, the technology companies, as well as the tribes for generations to come."