wiredinUSA February 2012

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3Power Energy penetrates Balkan market

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3Power Energy Group, a global group that develops and operates sustainable energy projects in sectors such as solar, wind and hydro power, has entered into a frame agreement with an Albanian investment group to purchase 75% of concession rights for a 127.6MW hydroelectric power plant in Albania, located on the Shala River. The investment cost for the project is estimated at approximately US$180 million and the market value

of the concession is around US$20 million. 3P is planning for private placements and intends to use the proceeds for further project equity and development costs. The Shala River project is expected to be connected to the grid in 2015. Hydroelectric power projects have become a strong industry in Albania, with financing from major financial institutions in the state.

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wiredInUSA - February 2012

wiredInUSA - February 2012

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