Fishermen’s Energy Welcomes Announcement by Areva

February 26, 2009

CAPE MAY, N.J., Feb. 26 /PRNewswire/ — Fishermen’s Energy of New Jersey, LLC welcomed the announcement of Armand Laferrere, President and CEO of Areva Canada of the opening of a North American headquarters for Areva-Multibrid wind energy division.

Daniel Cohen, President of Fishermen’s Energy said – “From our discussions with Jean-Francois Beland, who will head the new office for Areva-Multibrid, we believe this is the first step in Areva’s research to set up a supply chain and manufacturing for its Areva-Multibrid 5MW offshore wind turbine. We welcome their investigation into manufacturing and sourcing from subcomponent suppliers from North American companies in Ontario, Ohio, Michigan, as well as in New Jersey.”

Cohen went on to say, “Ultimately the decision of where to manufacture, assemble, and invest in North America will be an economic decision based upon the reality of projects such as our 350MW to 1000MW projects offshore of New Jersey and Trillium Power’s 750 MW plus projects in Ontario being permitted, financed, and ready for construction. We all need to build this industry – both construction and manufacturing simultaneously. We are excited that Areva-Multibrid has made a commitment to begin researching how to invest in and set up manufacturing in North America. We anticipate Areva-Multibrid will soon be followed by other European manufacturers and we believe a robust competitive industry will be good for all parties. Ultimately the offshore energy demand for equipment will be sufficient that significant manufacturing will take place in New Jersey as well as Ontario, but which European company will be first and which North American wind farm will be first, it is too early to tell. Areva’s decision to seriously look at supplying the North American market is overdue and welcome.”

Fishermen’s Energy is a company formed by the leadership of the United States’ East Coast fishing industry, to offer a new paradigm of the ocean’s development for both renewable energy and sustainable marine businesses. Headquartered in Cape May, New Jersey Fishermen’s Energy is looking to develop offshore energy in conjunction with the fishing community from Maine to South Carolina, with its first project being a 350 MW wind farm off the coast of New Jersey.

For further information, please see www.fishermensenergy.com.

SOURCE Fishermen’s Energy of New Jersey, LLC

Source: newswire

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