On September 24, 2018, 3Power Shala Sh.p.k., a com

On September 24, 2018, 3Power Shala Sh.p.k., a company of Shala Energy Plc, which are majority owned by 3Power Energy Group Inc, entered into a Memorandum of Understanding with Sinohydro Corporation Limited, a subsidiary of Power China International Corporation Limited, to provide the required EPC+F (“Engineering, Procurement, Construction plus Finance”) services for the development and construction of 2 Hydro Cascades (Lekaj and Breg Lumi) and 1 Hydro Dam (Vajishti), providing a total of approximately 83.5 MW of exportable electricity (321,465,637 Kw/h). The MOU is subject to satisfactory technical and financial due diligence, The due diligence and pre-engineering work commenced in October 2018.