3Power Energy Group Inc (PSPW)

[Topfuel]

Here's the billion financing that was trying to be used, all dried up now, Rudana collapsed we just caught wind of the financing years later, Just like the meeting with the energy minister with Falkanaz's picture.
We found out there were legal proceeding to stop the transfer at the same time years later.
All we can hope for is they have another plan for laying out 25 million of there own money on this
Article below

One of the failing company takes
75% of hydro-power Shale

The company 3Power Energy Group Inc. has reached an agreement with a group of Albanian investment, get 75% of concession rights for hydropower Shale project, with a power of 127.6 MW. The news was announced by the daily Business Journal Huston.

The concession was conducted in agreement with the Ministry of Economy, Trade and Energy and approved by the Council of Ministers. The agreement came after a year of work by the company in designing the positioning of hydropower in Albania.

The market value of the concession is 20 million dollars and the project is estimated to cost around 180 million dollars. The project is estimated to be completed in 2015.

This is a recurring case of subcontracting by concessionaires allowed by the Albanian government to utilize water resources for electricity. The first agreement was signed at the time was minister Genc Ruli, the race in 2009 and won a group, consisting of Slovenian companies of Kosovar businessman Ekrem Luka. The idea is to use the Shala River water through a cascade of HPPs local 6. Since then, there has been learned further concrete works, until the arrival of a manager of the company Rudana in Tirana. In April last year signed a memorandum of understanding between Rudana Group and former minister Dritan Prifti, promising investment of 4 billion dollars in Albania.
Rudana is the largest shareholder of the company 3Power Energy Group Inc.

But which is this company?

3Power Energy Group Inc. If read data from Reuters, is a development stage company. The company focuses on providing services on renewable energies. The company registered as Prime Sun Power Inc. 3Power changed in 2002. The Company has not conducted any operation and did not record any income and any customer during 2009 and 2010.

According to Yahoo Finance, in 2010 the company suffered a net loss of 799 758 dollars, while in 2009 the net loss was US $ 1,992,470. The company's net losses since its creation until December 31, 2010 were US $ 3,640,661. The cash balance at December 31, 2010 was 142 dollars.

On March 10 2011 the company reached an agreement with Italian financial institution SR & P Holding S.p.a for a loan of 50 million dollars. Debt motive was for investment in hydropower in Albania, Italy, France, Turkey and Chile. The debt will be guaranteed by assets received in concession projects of the company.

The performance of the company 3Power Energy Group Inc looks from the projection of the historical values ??of the volume of shares sold, obtained from Yahoo Finance, which is always almost zero (apart from some exceptions, at the time of purchase of two other companies and debt borrowing from Italian credit institute, which increased the market value of the company, an increase that did not last long). But we can also look bad performance in the history of the stock's value, which does not exceed half dollar per share.

See more at: http://shqiptarja.com/lajme/2706/nje-kompani-ne-lengim-merr-75-te-hidrocentralit-te-shales-68423.html#sthash.DKBSBcp5.dpuf