NEW YORK, Jan. 11, 2012 /PRNewswire/ -- 3Power Energy Group Inc. ("3Power" and "the Company") (OTCBB: PSPW) (Frankfurt: PSD) is pleased to announce that the company entered into an agreement to develop 240 hectares of land in Nuoro region, elevation 800M at sea level in Sardinia. The land will be leased by 3Power upon the completion of the licensing and permit process.

Seawind Services, the company subsidiary providing the engineering work for wind projects, will start installing the wind measurement equipment very soon. The landowner is a prominent family in the region and will support the licensing and permits process.

3Power also reallocated the projects under the acquisition agreement signed in May 2011 with "Power Andina" to a 19.5Mwt project in Hacienda Quichote. The new project is developed by Andina and has more than four years bankable wind data. Preliminary project design and Environmental permitting have been completed. 3Power management considers the new projects more advantageous for the company in its strategy of fast expanding strategy and enhancing its projects pipeline portfolio.

Forward Looking Statements

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to 3Power, its business and prospective development plans. These forward-looking statements can be identified by the use of terminology such as "subject to," "believe," "expects," "plan," "project," "estimate," "intend," "may," "will," "should," "can," or "anticipates," or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. Although all of the forward-looking statements set forth in this press release are believed to be reasonable, actual results may differ materially from those expressed in forward-looking statements as a result of factors outside of the control of 3Power.  3Power cannot provide assurances that any prospective matters described in the press release will successfully close or otherwise be completed or that 3Power will realize the anticipated benefits of any such transactions. Important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in 3Power's Securities and Exchange Commission filings. Readers are cautioned not to place undue reliance on forward-looking statements.  3Power does not undertake and specifically disclaims any obligation to update, republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. All forward-looking statements should be regarded solely as 3Power's current plans, estimates and beliefs.

SOURCE 3Power Energy Group Inc.

Copyright 2012 PR Newswire

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