3Power Energy Group Inc (PSPW)

[Crusader]

I have one more GTC buy order to fill,

and I am back to my previous full bullish position on PSPW. If a couple speculative plays pan out in the next week, I can take profits and at least double my current position in PSPW!

I doubt there will be substantive PSPW news tomorrow, but you never know about those Latin America projects that add up to 58MW announced in PSPW's previous press release about projects in Chile:

"...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...".

Just as promised in the PR above, PSPW has exited shell status, increased its board of directrors and appointed additional executives- mostly Seawind executives. (Read with care about Mr. Valentini and Conte, new PSPW directors. Their Italian fund has committed financing to PSPW and can pay for the verious projects in Chilie.)

http://finance.yahoo.com/news/3Power-Energy-Group-Merger-bw-2760016759.html?x=0&.v=1

The above 5-16-11 press release also reinterates:

"...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 still has not announced acquisition of the first part of "58MW of Seawind’s projects pipeline in Latin America". It will do so soon-IMO.

The 58MW project is already in Seawind's pipeline. It is not being developed from scratch. There are projects in addition to the 58MW project that are in progress. See the Sewind International website:

http://www.seawind.uk.com/El-Toqui-Progress/News-Article/

DOES ANYONE KEEP TRACK OF WHAT'S GOING ON HERE???

Remeber this from Seawind's website?:

"..3Power's merger with Seawind (which has been present in Chile since 2004) provides access to a wind power portfolio in excess of 1 GW, of projects at different stages of development."

"..The achievements embodied in the Seawind team include delivery of a number of extraordinary projects such as the installation of the highest altitude MW sized wind turbine in the world.

In 2011, 3Power intends to build two projects of 9 MW and 4.5 MW nominal power which are both permitted and ready to construct. The energy will be sold either under a power purchase agreement to private companies or 3Power will take advantage of the legal framework in Chile which provides preferential and guaranteed power dispatch of wind power projects."

"..3Power's team is negotiating to participate in a 39.6 MW wind power project in the south west of Nicaragua. Twenty two of Vestas 1.8 MW wind turbine units are scheduled to be installed by the end of 2011.

A power purchase agreement with fixed prices has been signed with Dissur-Disnorte and the transmission connection agreement has been agreed with Enatrel."

--> http://www.3powerenergy.com/generation-wind.html

Target Markets and Projects

Chile

3Power's merger with Seawind (which has been present in Chile since 2004) provides access to a wind power portfolio in excess of 1 GW, of projects at different stages of development. The achievements embodied in the Seawind team include delivery of a number of extraordinary projects such as the installation of the highest altitude MW sized wind turbine in the world.

In 2011, 3Power intends to build two projects of 9 MW and 4.5 MW nominal power which are both permitted and ready to construct. The energy will be sold either under a power purchase agreement to private companies or 3Power will take advantage of the legal framework in Chile which provides preferential and guaranteed power dispatch of wind power projects.

The 9 MW development, located on a small peninsula in the South of Chile, will be based on 1.5 MW nameplate capacity turbines, sited after over three years of specialist wind climate monitoring. Construction activities are schedule to start in quarter one of 2011, with a completion in quarter four of 2011.

The 4.5 MW wind power project is located in Region VIII of Chile, 600 km south of the capital, Santiago and will use 1.5 MW nameplate capacity turbines. Construction activities are schedule to start in quarter one of 2011, with a completion in quarter four of 2011.

http://www.3powerenergy.com/generation-wind.html

SHAREHOLDERS WERE GETTING RICH ON DD, BUT NOW WE ARE GETTING POOR ON GREED. LET'S GET BACK TO BASICS!!!!!!!!!!!!!!!!!!!!!!