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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.