3Power Energy Group Inc. ("3Power" and "the Company") (OTCBB: PSPW) (Frankfurt: PSD) is pleased to announce the closing of the acquisitions of Seawind Energy Ltd. and Seawind Services Ltd. (the "Seawind Companies").

First disclosed on January 26 2011, the merger will create a combined company with the historical revenues, management expertise and project pipeline to place 3Power at the forefront of sustainable renewable energy development. The Company has filed a Form 8-K (the "Super 8-K") with the U.S. Securities & Exchange Commission setting forth comprehensive disclosures and audited financial statements regarding the acquisition of the Seawind Companies and 3Power has ceased to be a shell company. As a result of the acquisitions, 3Power has also appointed the following new officers and directors of the Company;

The Company has appointed Mr. Dimitris Kazantzis as Chief Engineering Officer and director. Mr. Kazantzis has served as the co-founder, chief executive officer and engineering director of Hellenic Technologies Ltd., a company organized in Greece since 1988. He has over 25 years' experience in complete engineering and implementation development cycles (from the design stage to production/commissioning) for products and systems projects in Europe, South East Asia and the Gulf States. Prior to such activities, he worked in engineering aspects of the food industry and defence sectors in various engineering capacities.

The Company has appointed Mr. Riccardo Valentini as a member of the Company's Board and as Vice President of Project Development. Mr. Valentini is a partner in CR&P Holding S.p.A., an Italian investment group which has provided a $50 million credit facility to the Company. From August 2008 through the present Mr. Valentini has served as a managing partner of CRP Merchant Corporation in the areas of investment banking, mergers and acquisitions. Mr. Valentini has primarily worked on development of energy assets with particular focus on energy production and storage in Dominican Republic, Italy, Mexico, Peru and Panama. From June of 2007 through August 2008 Mr. Valentini was employed by Credit Suisse Private Banking in Zurich, Switzerland where he was responsible for developing significant global assets under management for international clients.

The Company has appointed Mr. Antonio Conte as a member of the Company's Board. From 2007 to the present, Mr. Conte has been affiliated with CR&P Holding S.p.A. and its predecessors, an Italian investment group which has provided a $50 million credit facility to the Company. CR&P Holding S.p.A. is a diversified investment company based in Rome, Italy, with portfolio holdings in real estate and renewable energy with recent asset valuations in excess of 323 million Euros.

3Power is assembling a world-class management team with significant depth and breadth of expertise to fully implement and execute the Company's business plans and expects to announce further appointments imminently.

The Company anticipates commencing steps for the acquisition of 58MW of development projects in Latin America from Seawind's existing pipeline and intends to develop up to 3 GW of renewable energy projects over the next 3 years. 3Power's combined project pipeline covers wind, solar, hydro and biomass development opportunities in Chile, Ecuador, Peru, France, Italy, Greece and Albania. The Company is currently in the process of securing rights for the development of an aggregate of 300 MW of renewable energy generation during the course of 2011.

About 3Power Energy Group

3POWER is emerging as a world-wide independent major player in producing electricity generated by solar, wind, hydro, biomass and other renewable energy resources and to develop, build and operate power plants based upon these technologies. The Company plans to develop clean, sustainable power generation and become a trusted energy provider to utility companies and corporate entities around the world. The Company expects to establish its headquarters in London, with satellite offices and operations in North America, Latin America, Europe, and Asia. For further information: www.3powerenergy.com.

Forward Looking Statements

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to 3Power, its business and prospective development plans. These forward-looking statements can be identified by the use of terminology such as "subject to," "believe," "expects," "plan," "project," "estimate," "intend," "may," "will," "should," "can," or "anticipates," or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. Although all of the forward-looking statements set forth in this press release are believed to be reasonable, actual results may differ materially from those expressed in forward-looking statements as a result of factors outside of the control of 3Power. 3Power cannot provide assurances that any prospective matters described in the press release will successfully close or otherwise be completed or that 3Power will realize the anticipated benefits of any such transactions. Important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in 3Power's Securities and Exchange Commission filings. Readers are cautioned not to place undue reliance on forward-looking statements. 3Power does not undertake and specifically disclaims any obligation to update, republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. All forward-looking statements should be regarded solely as 3Power's current plans, estimates and beliefs.

MEDIA:
3Power Energy Group Inc.
Toby Durrant, +44 (0) 203 318 1995
Chief Investment Officer
t.durrant@3powerenergy.com