Chairman's message,
To our valuable shareholders and investors we are pleased
to present the first edition of the company E News letter.
The objectives of this Newsletter is to provide an
update on activities and work in progress as well as major
market events and trends.
We will be delighted to receive your comments and questions
on the email ID IR@3powerenergy.com
Thank You,
Mr. Mohammed Falaknaz
Chairman of the Board
3 Power Energy Group INC. aims to be one of the world
leading developers, owners and operators of renewable
energy power plants generating electricity from Wind,
Solar, Hydro Electric, waste and Biomass.
PROJECTS UPDATE
The Company is making substantial progress in the legal and
technical due diligences work for the acquisition of
projects under the frame agreements signed in January
2012.
Albania:
Company lawyer in Albania delivers the first draft from the
legal due diligence of the Shala River 127 Mwt project.
Final report is expected to be submitted soon. The project
partners started the drafting of the definitive acquisition
agreement and plan to present for investors by mid April.
Company management and projects owners meet in Athens this
week for further discussions.
3Power is evaluating other Hydro Electric Power projects in
Albania on Rapuni & Benca-Tepelena Rivers and in Bulgaria
on ISKAR River. This comes as the company is aiming at
strengthening its position in the Balkan countries.
Italy:
Technical and legal due diligences are in progress.
The company is in preparation of the documents required to
replace the current owners in the project financing
contracts with debt providing banks.
Projects funding:
The company intends to file a registration statement under
the securities act of 1933 (FORM S-1) to issue new shares
for the purpose of raising funds required for the project
acquisition, company financing and market creation for the
company's shares.
The offering will be for raising USD 75M in a placement to
selected investors. The company management are currently
working with its financial advisors to define the placement
terms.
BREAKING NEWS
3Power enters the USA Renewable Energy Sector.
3Power is looking at several opportunities in the USA
market to acquire licenses and operational renewable energy
power plants specifically in Wind + Waste & Biomass Energy.
Frequently Asked Questions
Why things are taking long time?
The project allocation and selection is a very
sophisticated process. The company has to go through a lot
of procedures to make sure that the licenses, permissions,
land title are all clean and clear from the legal point of
view. Many hectares of land have to be visited and checked
by our engineers and for the grid connected ones all the
equipments, cablings, fittings will have to be examined in
order to ensure the long term electricity generation.
Insurances and long term financing banks documentation have
to be completed. After all of the above, we have to prepare
the placement memorandum digesting all these information to
be presented to our cash equity providing investors.
Considering the size of the projects we are trying to
accumulate in our portfolio we are in fact moving on a very
reasonable pace.
What are the plans for funding and when is that going
to happen?
As soon as the due diligence is completed and placement
memorandum as well as the S1 statement is filed we will be
presenting the projects to a selected group of investors
who have demonstrated their interest.
Are you planning to be on AMEX or any other main
boards?
It is definitely one of our core objectives. We intend to
take steps forward in this direction as soon as we complete
the current projects acquisition and funding.
Why are you working on several resources at the same
time, and why targeting such a large market foot
print?
The answer to that is our Economic Strategy fundamental
:
Balanced Risk Management+ Sustainable Revenues +Higher
Margins = Shareholders Value
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