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AEHI announces Payette County, Idaho as exclusive jurisdiction for proposed nuclear power plant August 10, 2010

Posted by cleanidahoenergy in AEHI, economic benefits, Elmore County, nuclear jobs, Payette County.
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Withdraws application in Elmore County

BOISE, IDAHO – August 10, 2010 – Alternate Energy Holdings, Inc. (OTCQB: AEHI),a developer and marketer of innovative clean energy sources based in Eagle, Idaho today announced its plans to move forward exclusively on a proposed nuclear power plant in Payette County, Idaho and, in turn, has withdrawn its zoning application in Elmore County, Idaho.

The company recently selected a new Idaho backup site adjacent to the current site in Payette County to replace the Elmore site. The new backup site is much larger, with superior water rights and transmission rights-of-way when compared with the Elmore site.

“Our plans to permit and ultimately construct a nuclear reactor in Payette have progressed very smoothly, and we have been very pleased with both the pace of local approvals and the level of local support for the project.  In less than a year, Payette County Commissioners approved initial rezoning measures and they are already moving forward on the final application process. Recent hearings have shown support among residents often surpassing 80 percent.  Based on that level of support and pace of local approvals, we decided to focus our time and resources exclusively within Payette County.  We are encouraged by the prospects for final local approval this year or early 2011,” said Don Gillispie, AEHI CEO.

According to a recent study, the proposed plant is expected to create around 5,000 jobs through the construction phase and more than 1,000 jobs during operations. Pay levels for those jobs will average $60,000 and $80,000, respectively.

Revenue for the county and state during the construction phase alone is projected to increase Idaho’s GDP by some $5.3 billion inclusive of $4.8 billion that would flow directly through Payette County.

About Alternate Energy Holdings, Inc. (http://www.AlternateEnergyHoldings.com) — Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation’s only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.

Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe,” “expect,” “anticipate,” “project,” “target,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the “Risk Factors” section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.

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