US 3Power Energy Group completes purchase of energy concession in Albania.

By bne IntelliNews June 15, 2012
US-based greed energy producer 3Power Energy Group has finalised an acquisition agreement with Albanian investment group Shala Energy to buy concession rights for developing a hydropower project in the Balkan state, prnewswire.com informed. The plant will be located on the Shala River, in Albanias north. It will have a total combined capacity of 127.6 MW and an annual generation output of some 530mn KWh. As prnewswire.com reported earlier, the concessions market value is about USD 20mn, while the projects estimated investment cost is around USD 180mn. The project is planned to be completed in 2015. 3Power has joined forces with a consortium led by Fortune&Heavy Industries, based in Thailand, Indias Bharat Heavy Electricals and hydropower energy consultant Synergics India.

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