Blue Diamond Nears Completion of Huerfano Wind Project Designs; Construction Scheduled for This Year


Source: Marketwire

HOUSTON, TX -- (Marketwire) -- 08/03/10 -- Blue Diamond Ventures, Inc. (PINKSHEETS: BLDV), through its affiliate Blue Diamond Ventures Renewables, LLC, and FreedomWorks, LLC, is moving toward final completion of its designs for its proposed 198-megawatt wind project, plus 68 miles of transmission line in Huerfano County, Colorado, with an anticipated construction start date scheduled for this year.

'FreedomWorks, LLC has done an exceptional job with establishing the completion criteria for the Huerfano Wind Project, along with guaranteeing quality and completeness of every key deliverable,' said Blue Diamond CEO John Quincey Moaning. 'This is very crucial as we move toward our target construction date of this year.'

Moaning also noted the financing structure with its financial equity partner for the proposed $420 million wind project in Southern Colorado is quickly progressing.

Last year, wind study results for the joint venture's Huerfano Wind Project -- proposed on more than 8,000 acres -- came back highly favorable with wind speeds representing some of the best in Colorado. The data for the project is available at:

About Blue Diamond Ventures, Inc.:
Blue Diamond Ventures, Inc. is an agricultural company, and through its affiliate, Blue Diamond Ventures Biofuels, LLC, conducts business as a biofuels company with operations in the U.S. and future endeavors in the Caribbean and Africa.

This press release contains forward-looking statements involving risks and uncertainties, including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such.

Blue Diamond Ventures, Inc.
John Moaning
(713) 493-2587

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