3Power To Take 75% Stake In $180M Albania Hydro Project

Law360, New York (January 5, 2012, 4:09 PM EST) -- Renewable energy company 3Power Energy Group Inc. has agreed to take a 75 percent stake in a $180 million hydroelectric power project in Albania, the company said Wednesday.

Through the agreement, U.K.-based 3Power would agree to develop and operate the power project on Albania's Shala River that will have 127.6 megawatts of capacity, 3Power said in a statement. The company said it won the agreement from Albania's Ministry of Economy, Trade and Energy.

The deal is a result of 3Power's one-year effort to find hydroelectric power projects in Albania...
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