ich kann zwar nichts genaues über die Firma sagen, es kommen ja auch keine Infos von selbst. Warum keine Infos kommen versteh ich zwar nicht? Aber ich glaube erstmal an den Chart und der sieht langsam wieder gut aus. Vielleicht werden bald wieder mehr Leute auf die Aktie aufmerksam- auch ohne News. Ich bleibe dabei.
Rodrigo Rivas, Affairs Manager Barrick Chile Corporate "To promote renewable energy, we need more companies that dare"
To face an uncertain energy supply companies of all sizes and pockets of businesses are betting on several initiatives, including plans for energy efficiency and renewable energy systems. This is the case of the mining company Barrick, which is pursuing the development of a wind farm in the Coquimbo Region, besides implementing energy saving schemes in several of its operations worldwide. Rodrigo Rivas, Director of Corporate Affairs for Barrick Chile, spoke with ElectroIndustria Magazine to publicize various aspects of the initiatives of this mining giant.
What is the purpose of construction of the Punta Colorada wind farm? The construction of this wind farm is part of Barrick's efforts to reduce greenhouse gas emissions. Therefore, we are working with leading experts on strategies for innovative energy sources, while we seek to improve the efficiency of our mines in the world. In this context, Barrick recently announced investments of nearly U.S. $ 68 million in projects that take advantage of clean energy and increase the existing energy infrastructure in various operations worldwide.
Furthermore, efficient use of energy is a necessity for Barrick and for all industries that use as inputs in their production. In scenarios where the shortage is a reality, is a good time to think about the sources of clean, renewable energy, and what better to make it available to all who use the Central Interconnected System (SIC), which supplies most of of the population of Chile.
It is in this context that, from 2006, one of the main ways in which America has focused Barrick has been the efficient energy management. An example is the implementation of an energy efficiency program in the Zaldivar mine operation, which aims to obtain a 5% savings in energy consumption.
barrick2.jpg (4956 bytes) Why chose Seawind as a supplier of turbines? Seawind is a company with proven experience and advanced technology, plus a number of surveys of wind. That gives us assurance of high standards of environmental care and concern, all in keeping with our policy of Responsible Mining.
How is the windmill development in Veladero, Argentina? We are in the process of installing a turbine in the area of ??operations Veladero in Argentina's San Juan province. This is a mill of two megawatts, which once installed and running is the only operating more than 4,000 meters above sea level, thus opening a new frontier in the field of clean energy generation.
A significant number of logistical challenges, infrastructure construction and installation make this a challenge and we hope to be operational later this year.
Are you considering the possibility of developing other initiatives of this kind? For now, we are not exploring new initiatives in the country. However, with the above projects in Chile and Argentina, Barrick Tanzania is investing $ 23.6 million to bring power to remote parts of the North Mara region where the mine is located in the same name.
This project is a partnership between Barrick and the government of Tanzania and is aligned with the government plan to provide electricity to 25% of the population by 2010. Currently, only 10% of the country has access to electricity, mainly in urban areas. This initiative will benefit both the people and industries that are located in areas without electricity. With a primary source of hydroelectric generation, the project will deliver clean energy to an area currently supports a limited supply of electricity generated by diesel.
What is needed to promote further adoption of renewable energy? In short, most companies who dare. In this case, the Punta Colorada wind farm is a pioneering initiative in the mining sector, but I'm sure once it is operating and demonstrate its efficiency and provide real, more companies will explore energy generation with renewable energy unconventional.
Punta Colorada wind farm Barrick
Approximately 80 km north of La Serena, in the town of La Higuera, Coquimbo Region, is the proposed wind energy generation Punta Colorada, which will generate up to 20 megawatts in its final stage production contributing directly to the Central Interconnected System (SIC).
With an investment of around U.S. $ 40 million, this initiative considers the installation of 10 wind turbine generation in an area of ??210 hectares. The supplier of the turbines will be the British Seawind, one of the most recognized companies in the business internationally.
On 30 October, the Region IV Corema unanimously approved the Environmental Impact Statement (EIS) project. Construction is expected to take approximately six months, as the assembly of each mill takes about a week and is done with a crane of 600 tons and high altitude, which mounts the sections in sequence.
- Current report filing (8-K) Date : 10/26/2011 @ 5:04PM Source : Edgar (US Regulatory) Stock : (PSPW) Quote : 0.58 0.0 (0.00%) @ 7:30AM
- Current report filing (8-K) print
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED – OCTOBER 19, 2011
3POWER ENERGY GROUP INC. (Exact name of Registrant as specified in its charter)
98-0393197 (State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)
PO Box 50006 Sh. Rashid Building Sh. Zayed Road Dubai, United Arab Emirates (Address of principal executive offices)
011 97 14 3210312 (Registrant ’ s telephone number, including area code)
100 Wall Street, 21 st Floor New York, NY 10005 (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of C ertain Officers; Compensatory Arrangements of Certain Officers
Resignation of Toby Durrant as Chief Executive Officer, Chief Financial Officer and Member of the Board
Effective as of October 19, 2011, Mr. Toby Durrant has resigned as the Chief Executive Officer, Chief Financial Officer, Chief Investment Officer and as a Member of the Board (the “Board”) of 3Power Energy Group Inc. (the “Company”).
Mr. Durrant has not expressed any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Appointment of Umamaheswaran Balasubramaniam as Chief Executive Officer
Effective as of October 19, 2011, Mr. Umamaheswaran Balasubramaniam (“Bala”) has been appointed as the Company’s Chief Executive Officer. He has served as a member of the Company’s Board since September 12, 2011.
Bala majored in economics and is qualified as a chartered accountant. He is a life member of the Cornell society of hotel men, an association of Cornell University. He brings into the company 35 years’ major experience and top level relations especially in the Middle East and Asia as well as a distinguished expertise in developing and managing mega-size projects. This varies from overseeing major projects to managing start-up ventures from inception to operational assignments.
Until recently, Bala served as Chief Executive Officer and member of the executive committee of Dubai Sports City, the world's first purpose-built integrated sports city having joined at its inception in 2003. Key responsibilities involved overseeing the project management, development and prompt delivery of the $3.6 billion project.
Before joining Dubai Sports City, he was Group General Manager and Chief Operating Officer of The Gulf International Tourism Development Company, overseeing hotels, real estate and mergers & acquisitions, from June 1983. This leading role involved managing existing assets and pursuing business opportunities mainly in the United Arab Emirates and partly in the Gulf and Europe, focusing on acquisitions.
Prior to 1983, Bala was Head of Finance for Development with the ITC LTD (formerly the Imperial Tobacco Company), in collaboration with SHERATON in India. Working for the Development Division of the organization, he oversaw a number of hospitality-based projects - from the Greenfield stage right through to preparation for handover to operators.
The Company has determined that Mr. Balasubramaniam’s previous experience in managing multi-billion dollar projects and as a businessman provide him with the skills and contacts necessary to serve as an officer and director.
The Company previously agreed that Mr. Balasubramaniamshall be compensated for his services as a director in the amount of $2,000 per month, plus an option grant to purchase 50,000 shares of the Company’s common stock with an exercise price per share equal to the market value of the Company’s common stock per share on the date of such grant. No changes have been made to his compensation at the current time.
Appointment of Shariff Rehman as Chief Financial Officer
Effective as of October 19, 2011, Mr. Shariff Rehman has been appointed as the Company’s Chief Financial Officer. He has served as a member of the Company’s Board since September 12, 2011.
Mr. Rehman is currently the CEO of the Falak Holding Group of companies, a Dubai based group involved in several diversified business sectors including as the initiator and a major shareholder of the $3.6 Billion Dubai sport city project - the world’s largest sports themed real estate project.
A graduate major in commerce from Kerala University in India, he joined the Falaknaz Holding Group at its inception 36 years ago and has been the driving force behind the group’s projects - from the startup stage through to full operation. He remains the personal investment and business advisor to Mr. Falaknaz and family, a prominent Dubai-based high net worth entrepreneur and the founder & owner of the Falak Holding Group.
Mr. Rehman brings to the company valuable expertise as an entrepreneur and senior executive with a history of involvement in multi-billion dollar projects. He also brings a well-established network of relationships in the affluent communities of the Arabian Gulf region and India.
In addition to his long-standing work with the Falak Holding Group, he is also the Founder and managing partner of International Expo Consults, one of the Middle East’s leading exhibition and trade show organizers established in 1994, as well as Chairman and owner of a $25 million turnover business in India which he founded 20 years ago. Mr. Rehman is also known as Shereef Mohammed Haneefa Rehuman.
The Company has determined that Mr. Rehman’s extensive business experience and his key relationships within the Middle East and India have provided him with the skills necessary to serve as an officer and director.
The Company previously agreed that Mr. Rehman shall be compensated for his services as a director in the amount of $2,000 per month, plus an option grant to purchase 50,000 shares of the Company’s common stock with an exercise price per share equal to the market value of the Company’s common stock per share on the date of such grant. No changes have been made to his compensation at the current time.
Appointment of James Wilson to the Board
On October 19, 2011, Mr. James Wilson was appointed to the Board. Since 2001, Mr. Wilson has served as the co-founder, chief executive officer and director of Seawind Energy Limited (“Seawind Energy”) and Seawind Services Limited (“Seawind Services” and together with Seawind Energy, the “Seawind Companies”). Prior to such positions, he worked as a Production and Mechanical Engineer in the marine, shipping and defense sectors in various capacities. He received his MBA in 1994 from Henley Management College.
The Company has determined that Mr. Wilson’s previous experience in managing energy projects have provided him with the skills and contacts necessary to serve as a director.
On May 13, 2011, the Company entered into a Stock Purchase Agreement with the Seawind Companies and the shareholders of Seawind Energy (the “Seawind Group Shareholders”). The Company has acquired Seawind Energy, and its wholly owned subsidiary Seawind Services, from the Seawind Group Shareholders in exchange for the issuance of 40,000,000 restricted shares of the Company’s common stock (such acquisition is referred to herein as the “Seawind Acquisition”). The valuation for purposes of such acquisition was determined to be $2,400,000 on the basis of an understanding between the Company and the representatives of the Seawind Companies as of January 25, 2011, with the number of shares to be issued thereof calculated by reference to the publicly quoted closing price of the Company’s Common Stock on January 25, 2011. The Seawind Companies have become wholly owned subsidiaries of the Company.
The Company is currently negotiating compensation arrangements with Mr. Wilson. The Company has not yet determined on which committees of the Board Mr. Wilson will serve.
Appointment of Mohammed Falaknaz to the Board
On October 19, 2011, Mr. Mohammed Falaknaz was appointed to the Board. Mr. Falaknaz is currently the vice president and spokesperson of the Falak Holding Group (prominent Dubai based family investment company and major shareholder in the Dubai Sport City multi-billion dollar project) and the president of the UAE national Rugby Association. Mr. Falaknaz has initiated and led local and international events for the Falak Holding Group and the UAE rugby association. Mr. Falaknaz received a degree in computer science from the University of Nebraska. The Company has determined that it will benefit from Mr. Falaknaz’s expertise, knowledge and relationships in the Arabian Gulf and Middle East region as a member of the Board.
The Company has not yet determined on which committees of the Board Mr. Falaknaz will serve. No decisions have been made regarding Mr. Falaknaz’ compensation at this time.
# # #
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.