3Power Energy Group Inc (PSPW)

[davied25]

"3Power Energy Group Inc. ("3Power" or "the Company") (OTCBB:PSPW)(FWB:PSD) and Seawind Services Ltd. ("Seawind") are pleased to announce that they have made major progress on the preparation of the U.S. Securities & Exchange Commission Form 8-K (the "Super 8-K") setting forth comprehensive disclosures and audited financial statements regarding the prospective acquisition of Seawind Energy and Seawind Services by 3Power. The transaction is anticipated to close on Monday May 16, 2011.

The combination of 3Power and Seawind is expected to establish combined operations with historical and anticipated future revenue streams, management expertise and project pipelines to place 3Power at the forefront of sustainable energy development. 3Power will exit U.S. Securities & Exchange Commission shell status upon filing of the Super 8-K, and commence the steps for acquisition of its first 58MW of Seawind's projects pipeline in Latin America. 3Power and Seawind intend to increase the members of the Board of Directors and appoint additional executives to the combined management team during the foreseeable future."