Green Energy Development Announces Joint Venture Affiliation with Clean Energy Capital Partners and Solar Project Development in New Jersey

Atlanta, Georgia. – September 24, 2010 – Green Energy Development, Inc. (“GED”), the premier global provider of renewable and sustainable energy projects, including biomass/waste-to-energy, solar, and wind energy solutions and technologies, announced the formation of a joint venture partnership with Clean Energy Capital Partners, LLC (“CECP”).

CECP brings to GED a unique combination of knowledge and experience in the areas of renewable energy solution tax advantages, and knowledge of solar-specific renewable energy certificates and state credits.

GED and CECP will be executing on a fully-designed and shovel ready solar project in New Jersey. The New Jersey solar project is an 8 megawatt, 32 million dollar development project. Upon completion, the New Jersey solar project will be owned and operated in part by GED, and GED will share in the renewable energy credits and revenues created by this project. Preliminary projections reveal that this project will generate in excess of 6 million dollars in revenue and renewable energy credit tax monetization annually.

David Ames, GED’s CEO and Chairman stated “this joint venture further expands GED’s scope and ability to diversify its reach into the global renewable energy market, and leverage renewable energy credits that form a part of most GED solar development projects.” Further, with regard to the New Jersey solar project, Mr. Ames said “solar energy is one of the cornerstones of GED’s renewable energy development business. The New Jersey solar project allows GED to execute a very profitable solar project in the US and take advantage of the renewable energy policies in New Jersey”.

Woodrow Cannon, CECP Co-founder and Managing Partner added “our expanding relationship with GED offers us the ability to meet the needs of even more clients with increasingly competitive terms. We are especially excited with the vision and foresight of the State of New Jersey with their development and implementation of the SREC program, and hope other states will follow similar models.”

About Green Energy Development, Inc.

Green Energy Development, Inc. (“GED”) is the premier global renewable energy utility. GED is technology agnostic, allowing it to focus on all major approaches to renewable energy including biomass/waste to energy, wind, and solar. GED’s business model and organizational structure provides flexible investment diversity and risk mitigation across global renewable energy opportunities. GED renewable energy opportunities are identified and qualified through an extensive global network of technical and strategic stakeholder relationships, and GED’s monitoring, assurance, auditing, and management system provides investors a real-time view of project/utility performance.

Contact Information

David R. Ames

Chairman and Chief Executive Officer

Green Energy Development, Inc.

Contact via E-mail