3Power Energy Group Inc. completed the acquisition of 75% stake in 127.6 MW Hydroelectric power plant concession on Shala River in Albania from an Albania based investment group.
On April 5, 2012, extension agreement was entered to extend the deadline for executing a definitive acquisition agreement to the expiration of four weeks from the signing of the extension agreement. On June 5, 2012, acquisition agreement was signed. The acquisition agreement provides that the closing of the acquisition shall occur no later than June 15, 2012. In late July 2012, the closing deadline was extended to August 10, 2012.
3Power Energy Group Inc. (OTCBB:PSPW) completed the acquisition of 75% stake in 127.6 MW Hydroelectric power plant concession on Shala River in Albania from an Albania based investment group on August 10, 2012.