Econergy International, which has offices in Boulder, Colorado, and Washington DC, USA, Sao Paulo, Brazil, and Monterrey, Mexico, has under development 40 clean energy projects throughout Latin America that may also sell carbon credits under the Clean Development Mechanism. In addition to the carbon trades it brokers, it also takes equity stakes in projects which yield carbon credits.

In February 2006, Econergy International PLC floated on the Alternative
Investment Market of the London Stock Exchange. The Company's mnemonic is ECG.

Econergy Homepage

Major Holders
Ospraie Management - 9,680,927 (11.13%)
Scottish Widows - 8,418,300 (9.55%)
MPC Investors 6,608,268 (7.60%)
Thomas H. Stoner Jr 5,538,039 (6.37%)
Deutsche Bank AG - 4,419,700 (5.08%)
Halbis Capital Management - 4,295,266 (4.94%)
Moore Capital Management - 4,000,000 (4.60%)
Frederick Renner 2,766,425 (3.17%)

Advisor
Piper Jaffray Ltd
Dresdner Kleinwort Target Price 155p (15 Jan 08)

Projects by Location

Bolivia
50 per cent interest acquired for $20 million in February 2007 in Empresa Eltrica Corani S.A., a leading Bolivian hydroelectric operation that is expected to continue to generate 391,320 net MWh per year, representing roughly 20 per cent of Bolivias total electricity capacity. The dividend from the plant will be declared in April 2008.

Brazil
Pedra do Sal: In August 2007 the Group acquired the rights, subject to government approval, to own 100 per cent of this wind project expected to generate 61,000 gross MWh per year. Econergy International also signed an agreement with Wobben Windpower, the Brazilian subsidiary of Enercon GmbH, to purchase, install and maintain 20 wind turbines for a total capacity of 18 MW. Site work is expected to commence prior to year end, and the plant expects to be in operation by 1 January 2009. The output has been sold on a 20-year term at a starting tariff of approximately $114 per MWh.
Areia Branca: A 78.8 per cent. owned hydroelectric project, with a total capacity of 19.8 MW, is expected to generate 97,000 gross MWh per year with Econergy International owning an effective net 76,000 MWh. The plant is expected to be in operations by Q4 2008.
Beberibe: A 90 per cent owned wind project expected to generate 90,000 gross MWh per year with Econergy International owning a net 80,000 MWh. In April 2007 Econergy International signed an equipment purchase and installation agreement with Wobben Windpower to purchase, install and maintain 32 wind turbines at the site for a total capacity of 25.6 MW. The plant is expected to be in operation by the 2nd Quarter of 2008.
Pipoca Hydroelectric: Econergy International entered into an agreement to purchase 51 per cent of the 20 MW Pipoca hydroelectric project in the State of Minas Gerais in Brazil from its current owner. The remaining 49 per cent is owned by CEMIG, the state of Minas Gerais electric utility, which will also issue a guarantee on the 20-year PPA on behalf of its distributors. The total project cost is expected to be approximately $48 million. Sales of electricity are expected to average 104,000 gross MWh annually. In addition, the project should produce approximately 10,000 CERs annually. The agreements with CEMIG are expected to be finalized during the fourth quarter of 2007.

Costa Rica
Proyecto Eolico Guanacaste: A 100 per cent owned wind project expected to generate 112,000 net MWh per year. Econergy International and its partners signed an agreement with Enercon GmbH in August 2007 for the supply and maintenance service for 55 wind turbines for a total capacity of 49.5 MW. Site construction is expected to begin by December 2007. 25.2 MW expected to come online in Q1 2009 with the remaining 24.3 MW expected in the First quarter of 2010.

USA
Cambria: In September 2007 the Group signed an agreement to acquire for $2.7 million a 50 per cent interest in a coalmine methane project under construction in Pennsylvania that is expected to yield 700,000 carbon credits over the 14 year life of the project. The project will also provide pipeline quality gas to the regional natural gas pipeline system. The expected gas production is 300 million cubic feet per year to be sold on the New York Mercantile Exchange (NYMEX). The project should come online in the 1st Quarter of 2008.

Mexico
Econergy International has executed land use agreements for the 20 MW Loreto Bay Wind Farm project and the 20 MW Eica Santa Catarina wind project. Some remaining land agreements for Santa Catarina are still being negotiated. Econergy International expects to execute a turbine supply agreement for the turbines in the late 2007 as well as PPAs with the local municipalities. The Group will also enter into an EPC contract for project construction with an international construction company. The total project cost of the Santa Catarina project is expected to be approximately $48 million and is expected to generate approximately 42,000 gross MWh and 26,000 gross CERs annually. Eighteen per cent of the project is expected to be sold to the CleanTech Fund. The total project cost of the Loreto Bay project is expected to be approximately $56 million and should generate approximately 45,000 gross MWh and 20,000 gross CERs annually. Approximately 15 per cent of the project is expected to be sold to the CleanTech Fund.

Chile
Laja:Awaiting News

Econergy's Consulting areas of expertise
Carbon Emissions Management
GHG emissions inventories
Emissions management plans
Power Project Transaction Support
Market assessments
Financial structure development
Investment due diligence
Project development support
Sustainable Energy Infrastructure
Energy infrastructure master planning
Resource & technology assessments
Feasibility studies
Institutional Program Support
Fund design and structure
Program design, implementation and performance evaluations
Management Team

My Thoughts
By the end of 2008 ECG will own and operate over four considerable renewable energy projects, these will deliver substantial revenues and allow for further investment in new projects and a dividend. As we move into 2009 the larger of Econergy's projects will come online and contribute heavily to ECG's target 1.2 million Mwh under management in 2009.
The projects all qualify for CER's (Certified Emission Reductions) and ECG can trade these with polluting companies in Latin America at a hefty profit. ECG also brokers large deals in Carbon Credits across the world, getting paid well in the process.
It's management of the Clean Energy Fund, created by global banking corporations, allows for ECG to sell part ownership of some of its projects to the fund and also gain a reputation within the renewable energy sector.
The USA is opening up to renewable energy and ECG has recognised this potentially huge opportunity by researching a number of 'clean' projects both under construction and in operation within the US for potential investment.

Econergy is my pick for sustained long - term growth. It's in a growing market, which also happens to be ethically sound and very profitable. It's management are not afraid to adopt a long term cautious approach to running the business and this has helped ECG lay the groundwork for becoming a highly successful global enterprise. The current share price in no way reflects the long term potential of ECG, my personal price target is 200p within 2 years. 5 Aug 2007. The recent weakness presents a great buying opportunity, which is in my view evidenced by the substantial holdings of Man Group, HSBC and RBS. Their assets are forecast to be worth $1.2 Billion by 2011, giving a NAV at that time of 346p.

Expected News
Early 2008, News of a turbine order for the Mexican Wind projects Eolica Santa Catarina and Loreto Bay is expected to be released.
12 May 2008, Econergy's preliminary's.
4th quarter 2008, Areia Branca expected to enter commercial operations.
March 2008, turbine testing at Beberibe.
Q2 2008, Beberibe expected to enter commerical operations.
Early 2008, bids for the balance of Proyecto Eolico Guanacaste should be awarded.
Q1 2008, Cambria is expected to enter commercial operations.

Econergy International Plc
10 May 2007

10 May 2007



Econergy International PLC

Final results for the year ending 31 December 2006

On track to exceed initial targets

Econergy International PLC ('Econergy International' or 'the Company'), the
clean energy and carbon developer, today announces final results for the year
ending 31 December 2006.

Highlights:

* On track to significantly exceed original target of delivering 1
million megawatt hours in 2009 gross (678,000 net for Econergy International's
share). It is now anticipated that Econergy International will deliver 1.4
million megawatt hours gross (820,000 net) in this timeframe

* New target established - to deliver 2.5 million megawatt hours gross
(1.3m net) by the end of 2010.

* Two Brazilian projects in construction, both due to enter commercial
operation during 2008; Areia Branca, a 100% owned hydroelectric project
expected to generate 97,000 megawatt hours annually and Beberibe, a 100% owned
wind project expected to deliver 102,000 megawatt hours annually.

* Six further projects in late stage development across Latin America

* 11 million tons Certified Emissions Reductions under management

* United States becoming an interesting clean energy market with
potential for both power generation opportunities and carbon market
developments

* The acquisition of 50% of the operating hydroelectric company,
Empresa Electrica Corani, S.A. in February 2007 brings immediate revenue
generation and reduces the risk profile

* Revenue for the period increased to $5.0 million (2005: $2.0 million)

* Cash balance of $103.9 million at 31 December 2006

* Loss after tax of $8.6 million (2005: $2.2 million)



Tom Stoner, Chief Executive Officer of Econergy International, said: 'Our
investment in talented people to develop our pipeline has been successful. We
are significantly ahead of our power generation targets and have been able to
set ourselves new demanding but realistic goals. The demand for clean energy
continues to strengthen in Latin America and the United States is becoming an
interesting market for us and we look forward to continued success during 2007
and beyond.'





Further information, please contact:


Econergy International PLC Tel: +1 (303) 473 9007
Tom Stoner



Haggie Financial Tel: +44 (0)20 7417 8989
Peter Rigby/ Alexandra Parry



Chairman's Statement



Our first 10 months as a public company have been an exciting time for Econergy
International PLC. The successful IPO in February 2006 raised net proceeds of
$95.1 million and set us on a progressive track. As we move into 2007, Econergy
International continues to transform and expand its business model. We have
grown from primarily a first class consultancy and carbon markets brokerage firm
into a multi-disciplined company that invests in select clean energy projects on
behalf of our shareholders. Econergy International is well on its way to
becoming a leading Independent Power Producer (IPP) focused on generating clean
energy assets.



The Group's business model develops and aggregates clean energy assets into a
single balance sheet leveraging the Group's growth and taking full advantage of
the Group's intellectual capital. The revenue model sells the power generated by
these projects, as well as realizes additional returns from the Certified
Emission Reduction permits that the United Nations grants to these projects
under a scheme created through the Kyoto Protocol.



In all regards, I am pleased to report that Econergy International has made
sufficient commitments to fulfill its mandate as set out in the IPO document.
Econergy International is now investing the proceeds of the IPO into a group of
assets intended to generate returns to investors through the sale of megawatt
hours of power.



One of these projects is in operation while the majority are still in the
development and construction phase and due to come on line by the end of 2008.
We believe that the potential returns derived from the monies invested will
generate significant shareholder value by positioning the Group as the leading
clean energy independent power company in its market.



Our initial geographical focus has been Latin America where I am happy to report
we have concluded a number of transactions that give us both territorial and
technology diversification whilst adhering to our investment return criteria. If
anything, since the IPO, the scale of the opportunity has expanded.



I would like to highlight a few of the key events from 2006:



1. There appears to be an increased level of commitment to the clean technology
sector, especially in North America.



2. Econergy International has remained insulated from the extreme volatility in
the European market because of our diversified business model. CER pricing
is currently tracking the 2008 - 2012 EU ETS price level and not the pilot
phase 2007 pricing.



3. There has been a considerable drive towards clean technology and equipment
for power throughout the global market. This has had an impact on the price
of wind turbines and general constructing services; driving both upward.



We have one project already in operation and two others under construction. This
is a business advantage for Econergy International because owning operating
assets significantly reduces the risk profile of the business. Project
development is the highest risk phase; one where our targets depend on projects
coming on line within our time and budget predictions. We will continue to keep
the market apprised of the progress on these projects. Econergy International
also has six projects in development and several projects where we are in
exclusive negotiations.



In summary, we believe that we are currently on track to exceed the business
goals presented in our February 2006 admission document. At that time we stated
a goal to produce and sell in excess of 1 million megawatt hours in 2009. We
have revised this target to exceed 1.4 million megawatt hours and we are setting
a new target of 2.5 million megawatt hours by the end of 2010.



Current news flow continues to be encouraging and should lead to significant
revenue during 2009 and 2010; revenues on which we base our business model. We
are excited about the business prospects and feel that 2007 will be a key period
for enabling us to achieve a much greater level of certainty over the Company's
medium term financial prospects.





Neil Eckert
Chairman
10 May 2007





Chief Executive Officer's Operating Report



As Econergy International PLC releases its first annual report since listing on
AIM on 23 February 2006, I am pleased to report on our progress and goals.



Although this company has been in the clean energy and carbon fields for over a
decade, the global demand for new clean power and carbon offsets has never been
stronger than in the past year with no let up in sight. This reflects high
energy costs, the global demand for new power, and the recognition that new
energy generation must principally come from clean sources.I am, of course,
concerned by alarming reports from the scientific and policy community about the
advancing dangers of climate change, but I recognize that these forces are
supportive of Econergy International and its plan to become a leading global
carbon credit and clean energy developer.



I proudly report major progress in fulfilling Econergy International's objective
of becoming a leading clean energy independent power producer in Latin America,
investing principally in wind, small hydro, and other clean energy assets.Since
listing, the Group has secured sufficient operating and development assets to
allow it to exceed its original plan of generating in excess of 1 million MWh
gross during 2009.Econergy International has expanded its horizons: the Group is
reviewing investments in the US, where clean energy and carbon offsetting are
emerging as potentially huge markets and opportunities.Utilities are required by
states to integrate renewables into their portfolios, but many lack experience
and hands on expertise to develop these resources, presenting great
opportunities. Our Carbon and Consulting divisions have also geared up to
address these and other demands.



The Directors have now set a new target for the Group based on its success in
2006 and the emergence of a significant pipeline of power plant opportunities in
both Latin and North America. The Group now aims to own and co-invest in
sufficient assets to produce an estimated 2.5 million megawatt hours from 750 MW
of gross installed capacity during 2010 (1.3 million megawatt hours net for
Econergy International's share). The Group also expects to generate 470,000 tons
of carbon credits per year by 2010 from these assets.



Although much depends on the success of the Group in finalizing agreements for
power sales, equipment supply, and non recourse debt financing, I am pleased to
report the following developments from the time of our IPO in February of 2006
to the present and look forward to issuing future statements about our progress
throughout 2007.



The Group has one renewable energy project in operation, two projects in
construction, and six additional projects in the final stages of development.



Project in Operation:



Empresa Electrica Corani, S.A., Bolivia



On 5 February 2007 Econergy International purchased Duke Energy Corporation's
50% equity interest in Empresa Electrica Corani, S.A. ('Corani'), a Bolivian
hydroelectric company for $20 million. Corani owns and operates a reservoir and
two hydroelectric plants with a total of 147 MW of installed capacity, at an
installed cost of $243 million. Corani has $39 million of outstanding long-term
debt and lease obligations. The remaining 50% of Corani is owned by the Bolivian
public pension system and individual shareholders. Corani is listed on the
Bolivian Stock Exchange.



Corani, originally commissioned in 1967 and expanded throughout the years,
generates about 20% of Bolivia's electricity (approximately 750,000 MWh
annually) and is one of the lowest cost producers in the country. All of
Corani's output is sold through the national wholesale market to various
distribution companies. It has the largest reservoir in Bolivia of any
hydroelectric facility and is one of the few generators capable of supplying
electricity during the dry season.



On 4 April 2007 Corani's shareholders voted to distribute a $ 7.9 million
dividend to the owners, including $3.9 million to Econergy. The dividend was
paid in May of 2007.



Projects in Construction:



Hidroelectrica Areia Branca, Brazil



On 28 February 2007 Econergy International issued a notice to proceed with the
construction of the 19.8 MW Areia Branca hydroelectric project located in the
State of Minas Gerais in Brazil. This project is expected to generate on average
approximately 97,000 MWh annually. The Company will sell all of the project's
output to Brazil's national utility, Eletrobras, under a 20-year power sales
agreement (PPA), as part of the PROINFA program.Participation in PROINFA may
preclude sales of any Certified Emissions Reductions (CERs). The Group and its
affiliates own 100% of this project and plan to sell 20% to the CleanTech Fund.
The total project cost is expected to be approximately $40 million. The project
is expected to enter into commercial operations during the fourth quarter of
2008.



Beberibe Wind Project, Brazil



In April 2007 Econergy International signed an equipment purchase and
installation agreement with Wobben Windpower Industria e Comercio Ltda., the
Brazilian subsidiary of the German company Enercon GmbH, to install thirty-two
800 kW wind turbines for the 25.6 MW Beberibe wind project in the state of
Ceara, Brazil. The Group has now acquired 100% of this project from the original
developers, and plans to sell 14% to the CleanTech Fund.



The project is expected to generate, on average, approximately 102,000 MWhs per
year, and will sell all of the output to Eletrobras under a 20-year PPA as part
of the PROINFA program. Participation in PROINFA may preclude sales of any CERs.
The total project cost is expected to be approximately $67 million. The project
is expected to enter into commercial operations in the second quarter of 2008.



Projects in Late Stage Development:



Pipoca Hydroelectric, Brazil



Econergy International entered into an agreement to purchase 51% of the 20 MW
Pipoca hydroelectric project in the State of Minas Gerais in Brazil from its
current owner. The remaining 49% is owned by CEMIG, the state of Minas Gerais'
electric utility, which will also issue a guarantee on the 20 year PPA on behalf
of its distributors.



The total project cost is expected to be approximately $45 million. Sales of
electricity are expected to average 104,000 MWh annually. In addition, the
project will produce approximately 27,000 CERs annually. The agreements with
CEMIG are expected to be finalized during the second quarter of 2007. The
project is expected to enter into commercial operations during the fourth
quarter of 2008.



Proyecto Eolico Guanacaste (PEG), Costa Rica



In May 2006, Econergy International and its partners submitted a bid to supply
49.5 MW of wind energy to Instituto Costarricense de Electricidad (ICE) in a
competitive tender for a 20-year Build, Own, Operate and Transfer contract.
Econergy International's consortium was selected by ICE and subsequently secured
the necessary land for the project. The consortium is now in the process of
sourcing equipment and finalizing all agreements for the project.



The total project cost is expected to be approximately $94 million. The Group
will own a 45.5 percent interest in the project which is expected to generate on
average approximately 200,000 MWh and 21,000 CERs annually. The project is
expected to enter into partial commercial operations, 20-25 MW, during the
fourth quarter of 2008 with the remainder coming on line in 2009.



Eolica Santa Catarina and Loreto Bay Wind Farm, Mexico: (Two projects)



Econergy International has executed land use agreements for the 20 MW Loreto Bay
Wind Farm project and the 18 MW Eolica Santa Catarina wind project. Some
remaining land agreements for Santa Catarina are still being negotiated.
Econergy International executed a turbine reservation agreement for nineteen 2
MW turbines in January 2007, will execute PPAs with the local municipalities and
enter into an EPC contract for project construction with an international
construction company.



The total project cost of the Loreto Bay project is expected to be approximately
$49 million and the project will generate approximately 35,000 MWh and 23,000
CERs annually. Commercial operations are expected to commence during the fourth
quarter of 2008. Approximately 18% of the project will be sold to the CleanTech
Fund.



The total project cost of the Santa Catarina project is expected to be
approximately $42 million and it will generate approximately 36,000 MWh and
23,000 CERs annually. Commercial operations are expected to commence during the
fourth quarter of 2008. Approximately 15% of the project will be sold to the
CleanTech Fund.



Laja Hydroelectric, Chile



In January 2007 Econergy International entered into an investment agreement with
Alberto Matthei & Hijos, the developer of the 25 to 35 MW Laja hydroelectric
project in Chile.Under this agreement, the Group will acquire a 50% interest in
this project subject to the fulfillment of certain conditions including the
project company entering into acceptable power purchase and equipment purchase
agreements and obtaining acceptable project financing.



The total project cost is expected to be approximately $45 million. The project
will generate approximately 140,000 MWh and 69,000 CERs per year. The project is
expected to enter into commercial operations in the first quarter of 2009.



Hidromundo Hydroelectric, Ecuador



In December 2006 Econergy International entered into a joint development
agreement with the original developer of a 34 MW hydroelectric project.
Hidromundo consists of five run-of-the-river power stations which form the Mundo
Nuevo (18MW) and Hidroblanco (16 MW) projects (together the Hidromundo
project). The project will use water from the Blanco, Chutin and La Plata
Rivers and will be located 45 Km from Ibarra City, north of Quito.



The project is expected to produce approximately 236,000 MWh per year, of which
approximately half is expected to be sold to one of the largest cement companies
in the world pursuant to a 10-year PPA, and half to two local distribution
companies pursuant to 12-year PPAs. These power purchase agreements have not
yet been finalized.



The total project cost will be approximately $64 million. The project is
expected to enter into commercial operations during the first quarter of 2010
and to produce 157,000 CERs per year.



Summary of Projects in Operation and Under Construction or Development:


Project Name & Type Capacity Annual Annual Power PPA Annual CER Est. Est.
Ownership % (MW) Generation Generation Purchaser Term Generation Operation Project
(MWh) Gross (MWh)Net (years) Date Costs
Gross US$
(millions)
Corani, 50% Hydro 147 750,000 375,000 Various n/a n/a Operating n/a
Areia Branca,
79.7% Hydro 19.8 97,000 77,000 Eletrobras 20 n/a Oct-08 40.1
(Proinfa)
Beberibe, 86.4% Wind 25.6 102,000 88,000 Eletrobras 20 n/a Apr-08 67.3
(Proinfa)
Pipoca, 51% Hydro 20 104,000 53,000 CEMIG 20 27,000 Dec-08 44.5
Proyecto
Eolico
Guanacaste
(PEG), 45.9% Wind 49.5 203,000 93,000 ICE 20 21,000 Oct-08 94.2
Eolica Santa
Catarina,
78.5% Wind 18 36,000 28,000 Municipals 20 23,000 Oct-08 41.7
Loreto Bay
Wind Farm,
32.5% Wind 20 35,000 11,000 Various 20 23,000 Oct-08 48.5
Laja, 50.0% Hydro 25 140,000 70,000 TBD TBD 69,000 Jan-09 44.7
Hidromundo,
86.4% Hydro 34 236,000 204,000 Cement 10 - 12 157,000 Jan-10 63.7
company/
Dist. Cos
Total 358.9 1,703,000 999,000 320,000 $444.7



(Note: Econergy International's share includes the proportion of its ownership
in the CleanTech Fund where applicable.



Econergy International's planned equity investments in these projects is
expected to total approximately $103 million, which exceeds our net proceeds
from the IPO after normal operating expenses.However, it should be noted, there
is no assurance that a project under development will be constructed or invested
in by the Group.



In addition to the projects detailed and summarized above, the Group's
development team continually sources new opportunities that meet the Group's
criteria as economically viable clean energy projects that have the potential to
add value to the Group and to support its continued growth.



The Group continues to evaluate primarily wind and hydro projects in Latin
American and as of 31 March 2007 had a pipeline of approximately 520 MW.In
addition, the Group is evaluating entering the North American clean energy
market. Immediate opportunities include two biomass gasification projects with
total capacity of 19 MW.



The Directors understand that valuing a company such as Econergy International
can be difficult. Other independent power producing companies have used public
capital markets to access both equity and debt capital for growth. Leveraging
the Group's growth depends upon the ability of the public capital markets to see
value in our current projects. In addition, the Group will also rely upon
international and local financial markets to provide future project and
corporate financing consistent with historic independent power finance
practices.



Project Acquisitions



The Group considers, from time to time, the acquisition of clean energy projects
that are in operations. Currently, such opportunities with a combined capacity
of 52 MW are under evaluation and negotiation.



CleanTech Fund

In addition to its development, consulting, and carbon businesses Econergy
International Corporation is also General Partner (Manager) and a Limited
Partner (Investor) in the $25 million CleanTech Fund (CTF). The Fund's other
Limited Partners include: the Multilateral Investment Fund of the Inter-American
Development Bank (MIF/IADB); Corporacion Mexicana de Inversiones de Capital
(CMIC); Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V
(FMO); Banco Nacional de Obras y Servicios Publicos/Fondo de Inversion en
Infraestructura (Banobras); and the Corporacion Andina de Fomento (CAF). It is
anticipated that CTF will co-invest in a number of Econergy International's
projects as well as in other projects separate from Econergy International's
portfolio.



CleanTech Fund made a $3 million investment in NEOgas do Brasil (NGB) in January
2006. CTF currently owns 24% of the common shares of NGB. As a result of the
CTF investment and NGB's sales efforts, overall sales of NGB have increased from
approximately $2 million in 2005 to approximately $8 million for 2006. The CTF
will most likely close on two additional investments by the second quarter of
2007; the Areia Branca hydroelectric project in Brazil and the Beberibe wind
project in Brazil.



Carbon Markets Group



Econergy International's Carbon Markets Group manages all aspects of the Group's
carbon emissions business. This business historically has been focused on the
Clean Development Mechanism (CDM) and comprised of three areas:



1. Brokerage or agency CERs: The Group prepares CDM projects for third
party developers and does not own the CERs, but receives consulting fees and a
commission on the sale of tons.

2. Principal CERs: The Group purchases CERs from third-party developers and
uses these CERs primarily to satisfy loan obligations denominated in CERs.

3. Developer CERs. The Group, through its investments in energy projects,
also generates CERs which it and its investment partners own.



In the brokerage business, the Group began 2006 with over 8 million Certified
Emissions Reductions managed on behalf of its clients. The Group added another 8
million tons by the end of the year, to approximately 16 million tons. However,
internal re-classification, numerous regulatory and project specific changes
toward the end of 2006 resulted in a subsequent downward revision, to
approximately 11 million tons.The reductions were a result of a combination of
factors: the 'PROINFA decree' in Brazil, whereby renewable energy projects in
the PROINFA program were declared by the Brazilian president to be no longer
eligible for CDM; changes to various methodologies undertaken by the CDM
Methodology Panel; our re-classification separating brokerage CERs, from project
CERs and delays in construction or development for several large projects.
Regulatory uncertainties will likely be a part of the carbon markets for the
foreseeable future, and Econergy International will attempt to address these as
soon as they arise.

The Group will continue to report on its brokerage portfolio as it changes and
as new projects are added. In addition, the Group will begin reporting on
Brokerage, Principal, and Developer CERs on a tons per year basis as opposed to
a total volume basis now that the Group has set an annual carbon target. This
will allow the market to better understand the actual expected CER generation
year by year, including in the post-Kyoto environment.



On other fronts, many of Econergy International's agency contracts saw CERs
issued in 2006. This is a significant achievement after years of development
work. Beginning in June through December 2006, 19 Econergy International-managed
projects issued 1.3 million CERs. Significantly, the Bandeirantes landfill gas
project, issued 0.4 million tons in December and an additional 1.15 million tons
in April 2007.



Building on its strong portfolio of energy projects and CER transactions in
Latin America, Econergy International will focus more effort in 2007 on
investments and carbon market developments in the United States. The United
States remains one of the largest and most important markets for project-based
GHG emission reductions. Voluntary market dynamics, combined with early
regulatory developments at the state level, are creating the opportunity for new
business development. The growing opportunity in the United States, combined
with the increasing likelihood for a post-2012 trading system that carries the
CDM market forward, bode well for the Group's mission of securing dual revenue
streams from project investments.



Consulting Group



Econergy International's Consulting Group recorded income of $1.3 million in
2006, compared to $1.1 million in 2005. During 2006, the Group increased the
level of strategic support provided to the Company's other groups, including
Carbon Markets, Project Development and the CleanTech Fund. The Consulting Group
was awarded new contracts in 2006 totaling approximately $1.5 million.Highlights
include: multiple contracts with the County of Boulder, Colorado, USA to provide
inventories of GHG emissions and a strategy for emissions reduction; development
of a biofuels program in Africa for the World Bank; continued work developing
the Climate Leaders program of the US Environmental Protection Agency, whose
roughly 100 corporate participants have targeted emissions reductions of 40
million tons of CO2 per year; and preparation of a $60 million renewable energy
finance program for KfW Bankengruppe, Germany's development bank, in Chile.



Clean Energy Brasil



Econergy International entered into an agreement with Clean Energy Brasil PLC
(CEB), which listed on AIM in December 2006 raising 100 million. CEB is focused
on developing projects for the production of sugar, ethanol and electricity. In
exchange for turning over our Brazilian ethanol pipeline of projects, the Group
received a 5% carried interest in the investment advisor to CEB, Temple Capital
Partners. Further, the Group has the right to invest in certain of CEB's
projects, the right to administer and broker carbon credits for all CEB
projects, first rights to serve as energy consultant to CEB, as well as rights
to any cogeneration development opportunities which CEB may issue to third
parties.



Financial Results



Revenue for the twelve months ended 31 December 2006 increased to $5.0 million
from $2.0 million in 2005. The increase is mainly from two segments; the Carbon
Markets Group through the acquisition of the Brazilian subsidiary and Energy
Related Investments and Services through the sales of power modules and
services.



Operating loss for the period was $9.2 million as compared to a loss of $1.8
million for 2005. In keeping with its plan to transform the Group into a leading
non-polluting independent power producer, the Group incurred additional expenses
in hiring an experienced staff to find and grow the pipeline of clean energy
projects. The increase in the operating loss was mainly the result of increased
staff costs as well as other costs related to the development of the clean
energy projects pipeline that could not be capitalized. The Group also recorded
a foreign exchange gain of $11 million on consolidation as a consequence of
re-translating foreign currency balances into US dollars. This amount has been
recognised in equity.



Loss after tax was $8.6 million as compared to a loss of $2.2 million for 2005
mainly for reasons noted above. Additionally, the favorable interest income of
$4.0 million earned on Cash and Cash Equivalents was offset by the additional
interest expense of $3.2 million recorded to account for the change in the cost
of acquiring CERs to repay a CER denominated loan.



As of 31 December 2006 the Group had $103.9 million in cash versus $4.2 million
in cash at 31 December 2005. In February 2006 the Group raised $95.1 million,
net of expenses, by listing on AIM. As explained above, the monies raised will
primarily be used for investments in clean energy projects located principally
in Latin America that are either in operation, in construction, or under
development.



In conclusion, Econergy International is ahead of plan and ahead of schedule in
establishing itself as a leading carbon and clean energy project developer
operating in the Americas, utilizing the Independent Power Producer business
model.Our plans are to execute on our current commitments and to prepare for
significant growth in all areas, with access to appropriate financing.



The Directors are confident in the Group's ability to execute its plan and
obtain financing over the coming months and years.


Thomas Stoner
Chief Executive Officer
10 May 2007




Consolidated Income Statement
for the year ended 31 December 2006

------------------- --- ------- ---- -------
(In US $000s) 2006 2005
------------------- --- ------- ---- -------


Revenue 5,029 1,983
Cost of sales (3,610) (937)
----------- ---------
GROSS PROFIT 1,419 1,046

Other income (3) -
Administrative expenses 10,517 2,707
Other operating
expenses 119 108
------- -------
LOSS FROM OPERATIONS (9,214) (1,769)

Share of loss of
investments accounted
for under the equity
method (107) (106)
Finance income 3,996 7
Finance costs (3,220) (302)
------- -------
LOSS BEFORE TAXATION (8,545) (2,170)

Taxation 64 -

------------------- --- ------- ---- -------
LOSS FOR THE PERIOD (8,609) (2,170)
------------------- --- ------- ---- -------

Attributable to equity
holders of the parent (8,609) (2,170)

------------------- --- ------- ---- -------
Loss per share:
Basic $ (0.11) $ (0.27)
Diluted $ (0.11) $ (0.27)
------------------- --- ------- ---- -------










Consolidated Balance Sheet
at 31 December 2006

----------------------------------------------- ----------- -----------
(In US $000) 2006 2005
----------------------------------------------- ----------- -----------


ASSETS
Non-current assets
Property, plant and equipment 513 41
Intangible assets 2,249 -
Interests in associates 538 74
Other assets 1,639 1,670
----------- -----------
Total non-current assets 4,939 1,785

Current assets
Trade and other receivables 3,462 1,427
Inventory - 974
Cash and cash equivalents 103,937 4,223
----------- -----------
Total current assets 107,399 6,624

----------------------------------------------- ----------- -----------
TOTAL ASSETS 112,338 8,409
----------------------------------------------- ----------- -----------

EQUITY AND LIABILITIES
Capital and reserves
Share capital 1,517 3
Share premium 101,376 2,868
Foreign exchange reserve 11,455 -
Retained deficit (13,214) (5,357)
---------- -----------
Equity attributable to shareholders of the 101,134 (2,486)
parent

Non-current liabilities
Financial Liabilities 7,067 4,054
Deferred tax liability 723 -
---------- -----------
Total non-current liabilities 7,790 4,054

Current
liabilities
Trade and other payables 3,074 3,546
Financial Liabilities 340 3,295
---------- -----------
Total current liabilities 3,414 6,841

----------------------------------------------- ----------- -----------
TOTAL LIABILITIES AND EQUITY 112,338 8,409
----------------------------------------------- ----------- -----------



Consolidated statement of changes in equity
for the year ended 31 December 2006

---------------- ---------- -------- -------- -------- ---------
(In US $000s) Foreign
Share Share Exchange Retained Total
Capital Premium Reserve Deficit Equity
---------------- ---------- -------- -------- -------- ---------

Equity at 31 December
2004 1 813 (3,187) (2,373)

Loss for the period (2,170) (2,170)
Issuance of common
shares 2 1,201 1,203
Issuance of preferred
shares 854 854

---------------- ---------- -------- -------- -------- ---------
Equity at 31 December
2005 3 2,868 - (5,357) (2,486)
---------------- ---------- -------- -------- -------- ---------

Foreign currency
translation 11,455 11,455
---------- -------- -------- -------- ---------
Total amount recognised
in equity 11,455 - 11,455

Loss for the year (8,609) (8,609)
---------- -------- -------- -------- ---------
Total recognised loss
for the year 11,455 (8,609) 2,846

Share option expense 752 752
Issuance of ordinary
shares 1,514 108,031 109,545
Offering Costs (9,523) (9,523)

---------------- ---------- -------- -------- -------- ---------
Equity at 31 December
2006 1,517 101,376 11,455 (13,214) 101,134
---------------- ---------- -------- -------- -------- ---------



Consolidated Cash Flow Statement
for the year ended 31 December 2006

---------------------------------- -------- --------
(In US $000s) 2006 2005
---------------------------------- -------- --------
Operating activities

Loss for the period (8,609) (2,170)

Adjustments for:

Share of loss of investments accounted
for under the equity method 107 106
Depreciation & Amortisation 145 9
Impairment of intangible 511
Finance costs - 302
Finance income (3,996) (7)
Share-based payment 1,492 -

Increase in trade and
other receivables (1,417) (118)
Decrease in inventory 974 -
Increase in other assets - (1,036)
Increase in trade and
other payables 592 1,208

-------- --------
Cash used in operations (10,201) (1,706)

Investing activities

Additions to property, plant and equipment (489) (26)
Deferred Costs in Projects (1,533) (81)
Acquisition of interests in associates (571) (261)
Finance income 3,996 7

-------- --------
Cash provided by (used in) investing 1,403 (361)

Financing activities

Repayment of borrowings (97) -
Proceeds from borrowings 4,025
Finance costs - (3)
Proceeds from common shares offering, net of
offering costs 97,154 -
Proceeds from issuance of preferred shares, net
of offering costs - 2,228
-------- --------
Cash generated from financing 97,057 6,250

Effect of exchange rate changes on cash 11,455 -

Net increase in cash and cash equivalents 99,714 4,183

Cash and cash equivalents, beginning of year 4,223 40

---------------------------------- -------- --------
Cash and cash equivalents at 31 December 2006 103,937 4,223
---------------------------------- -------- --------



NOTES TO THE FINANCIAL STATEMENTS


1. Basis of accounting



The financial information contained in this statement does not constitute the
Group's statutory accounts. The figures for the year ended 31 December 2006 have
been extracted from the Group's audited statutory accounts, which were approved
by the Board on 10 May 2007 and will be lodged with the registrars of companies
in the Isle of Man. The report of the auditors on those accounts was
unqualified.



2. Basis of preparation



The Group follows the International Financial Reporting Standards as the basis
for preparation of its financial statements. These financial statements are
prepared on the historical cost basis as modified by the requirement of IFRS to
present financial assets and financial liabilities at fair value, making the
required adjustment through the income statement.



As the majority of the Group's transactions are denominated in US Dollars the
consolidated financial statements are presented in US Dollars.

The directors have elected account for the acquisition of Econergy International
Corporation as a reverse acquisition. The Directors note that the transaction
takes outside of the scope of IFRS 3 (Business Combinations) and there is no
guidance elsewhere in IFRS concerning such transactions. In this instance the
directors consider that it is appropriate to apply the reverse acquisition
accounting rules (described in IFRS 3) on the basis that EIC was a trading
company with a pipeline of investments whereas the Company had no assets and
liabilities other than share capital. In addition, the management team selected
to run the combined entities consisted of the EIC management team.

Consequently, the consolidated financial statements are prepared in the name of
the legal parent (EIP), but the financial statement are prepared as a
continuation of the legal subsidiary, EIC.



3. Segment information

The Group's primary reporting format for reporting segment information is
business segments. The Group segregates its business activities into 3 operating
segments: Energy Related Investments and Services which includes Fund
Management; Carbon Services, and Consulting.

Year ended 31 December 2006
---------------- -------- ------- ------- ---------
Energy
related
investments Carbon
US $'000 & services services Consulting Total 2006
---------------- -------- ------- ------- ---------
Revenue 3,488 266 1,275 5,029
Loss (3,328) (4,065) (1,216) (8,609)
Balance Sheet
Assets 104,611 5,220 2,507 112,338
Liabilities 2,602 7,733 869 11,204
-------- ------- ------- ---------
Net assets/(liabilities) 102,009 (2,513) 1,638 101,134
Other
Capital expenditure 249 48 192 489
Depreciation and
amortisation 29 114 2 145
Share of associate
result (107) - - (107)
Investment in
associates 538 - - 538

Year ended 31 December 2005
---------------- -------- ------- ------- ---------
Energy
related
investments Carbon
US $'000 & services services Consulting Total 2005
---------------- -------- ------- ------- ---------

Revenue 850 - 1,133 1,983
Loss (989) (118) (1,063) (2,170)
Balance Sheet
Assets 2,102 3,220 3,087 8,409
Liabilities 4,117 4,123 2,655 10,895
-------- ------- ------- ---------
Net assets/(liabilities) (2,015) (903) 432 (2,486)
Other
Capital expenditure - - 26 26
Depreciation and
amortization - - 9 9
Share of associate
result (106) - - (106)
Investment in associates 74 - - 74

Below follows information by geographic segment.

Geographic
segments
Revenue Capital expenditure Segment assets
Year ended 31 December Year ended 31 December at 31 December
2006 2005 2006 2005 2006 2005
$'000 $'000 $'000 $'000 $'000 $'000
---------- --- -------- -------- --- ------- -------- --- --------
United States 2,055 1,638 384 26 6,089 3,087
Mexico 2,708 345 17 2,248 2,102
Brazil 266 - 48 2,547
Costa Rica - - 40 1,264
Ireland - - 3,451 3,220
Isle Of Man - - 96,739 -
---------- --- -------- -------- --- ------- -------- --- --------
Total 5,029 1,983 489 26 112,338 8,409
---------- --- -------- -------- --- ------- -------- --- --------



4. Financial Income and expenses



----------------- ---------- --- ---------- --- ---------- --- ----------
Group Group Company Company
Year ended Year ended Year ended Year ended
31 December 31 December 31 December 31 December
2006 2005 2006 2005
$'000 $'000 $'000 $'000
----------------- ---------- --- ---------- --- ---------- --- ----------

Finance income
Bank interest
received 3,996 7 3,859 -
---------- ---------- ---------- ----------
3,996 7 3,859 -
Finance expense
Bank Borrowings 12 45 - -
Preference
share dividend 33 134
Interest on
TEP loan 503 123 - -
---------- ---------- ---------- ----------
548 302 - -
Other finance expense
Revaluation of
TEP loan 2,672 -
---------- ---------- ---------- ----------
3,220 302 - -
---------- ---------- ---------- ----------

Net finance
income /
(expense) 776 (295) 3,859 -
---------- ---------- ---------- ----------

The revaluation of the TEP loan (a CER denominated loan) is a non-cash item.



5. Loss per share

Basic loss per share (LPS) is computed by dividing net loss during the period by
the weighted average number of ordinary shares outstanding during each period.
Diluted LPS is computed by dividing the net loss during the period by the
weighted average number of ordinary shares that would be outstanding assuming
the issuance of dilutive potential common shares including stock options.

The weighted average number of shares has been calculated on an equivalent basis
as if the acquisition of EIC had taken place from the earliest period presented
herein. The weighted average number of shares used in LPS is as follows:

The Group's Share Based Plan allows the exercise of options only if certain
conditions are met (see Note 24 for further explanation of Share-Based Plan).
Contingently issuable ordinary shares are treated as outstanding and included in
the calculation of both basic and diluted EPS if the conditions have been met.
If the conditions have not been met, the number of contingently issuable shares
included in the diluted EPS calculation is based on the number of shares that
would be issuable if the end of the period were the end of the contingency
period.

The inclusion of the share options in the calculation of the weighted average
number of shares would have the effect of reducing the loss per share.
Consequently, the share options have been excluded from the calculation

Year ended Year ended
31 December 31 December
2006 2005
$'000 $'000
---------- ----------

Numerator

Loss for the year (8,609) (2,170)
---------- ----------
Earnings used in basic and diluted
EPS (8,609) (2,170)
========== ==========

Denominator

---------- ----------
Weighted average number of shares
used in basic and diluted EPS 76,390,000 8,095,000
========== ==========


Basic and diluted EPS for the Company was derived using a loss for the year of
$3,356,000 and a weighted average number of shares (basic and diluted) of
76,390,000.


6. Interest Bearing Loans and Borrowings

In September 2005, the Group entered into an agreement with an outside party to
borrow up to $4 million. According to the agreement the funds were to be used
only for the purchase of Certified Emission Reductions and/or to invest in power
generation projects which can become Clean Development Mechanism projects in
accordance with Article 12 of the Kyoto Protocol.

The loan is repayable in 1,103,000 tons of CERs over a period of eight years and
bears an imputed interest rate of 13%. In September 2006 the first delivery of
CERs was made to begin repayment of the loan.

At 31 December 2006 the loan was revalued to reflect the increased market prices
of buying CERs to repay the loan. Consequently, a one-time interest expense
charge in the amount of $2,614,000 was added to the current interest expense of
$ 574,000 to reflect the increase in the cost of the loan.

----------------------- ------- -------
2006 2005
Financial Liabilities $'000 $'000
----------------------- ------- -------

CERs loan 7,191 4,123
Convertible preference
shares - 3,167
Other borrowings 216 59
Less current maturities (340) (3,295)
----------------------- ------- -------
Long-term financial
liabilities 7,067 4,054
----------------------- ------- -------



EIC had issued a number of convertible preference shares which were converted
into ordinary shares of EIP upon admission. The amount included above in the
financial statements is the liability element of the convertible preference
shares. The convertible preference shares had no redemption date and carried an
interest of 7 % per annum.



7. Post Balance Sheet Events



On 5 February 2007 the Group purchased Duke Energy Corporation's 50% equity
interest in Empresa Electrica Corani, S.A. (Corani), a Bolivian hydroelectric
company, for $20 million. Corani owns and operates a reservoir and two
hydroelectric plants (Corani and Santa Isabel) with a total of 147 MW of
installed capacity, at an installed cost of $243 million. Corani has $39 million
of outstanding long-term debt and lease obligations. The remaining 50% of Corani
is owned by the Bolivian public pension system and individual shareholders.
Corani is listed on the Bolivian Stock Exchange.



Corani, originally commissioned in 1967 and expanded throughout the years,
generates about 20% of Bolivia's electricity (approximately 750,000 MWh
annually) and is one of the lowest cost producers in the country. All of
Corani's output is sold through the national wholesale market to various
distribution companies. Corani has the largest reservoir in Bolivia of any
hydroelectric facility and is one of the few generators capable of supplying
electricity during the dry season.



On 4 April 2007 Corani's shareholders voted to distribute a $ 7.9 million
dividend to the owners, including $3.9 million to Econergy. The dividend was
paid in May of 2007.



The business combinations will be accounted for under the purchase method and
the Group will account for its investment in Corani as a subsidiary undertaking.
Econergy International can appoint a majority of the board members and the
directors consider that this constitutes control. Since the Group's interest in
the net fair value of the acquired identifiable net assets exceeds the cost of
the business combination, that excess also referred to as negative goodwill,
must be recognised immediately in the income statement as a gain. IFRS 3
requires that prior to concluding that negative goodwill has arisen, the
identification and measurement of the acquired company be evaluated and
measured.



The Group plans to consolidate 100% of Corani in the financial statements
reflecting a minority interest of 50%. The net book values disclosed below are
preliminary values. A purchase price allocation exercise is underway which the
Group will calculate during the year in order to determine the actual fair value
of the assets and liabilities acquired.


Corani Net Book Value
of Assets
Acquired
$ '000s

Current Assets 29,000
Fixed Assets 124,000
-----------
Total Assets 153,000

Current Liabilities 8,000
Non-Current Liabilities 47,000
-----------
Total Liabilities 55,000

Minority Interest (49,000)
-----------
50% of Net Book Value of Net
Assets Acquired 49,000

Consideration paid 20,000
Dividend payable in 2007 (3,900)
-----------
Estimated gain to profit and
loss statement 32,900



At this time the Group has not concluded the assessment of the fair value of the
assets and liabilities of this acquisition



On 25 January 2007 the Group entered into a share purchase agreement to acquire
all the issued and outstanding shares of Hidreletrica Areia Branca for
approximately $4 million dollars and on 28 February 2007 the Group issued a
notice to commence the construction of the 19.8MW hydroelectric project in
Brazil. Total project costs are estimated at $40 million.



On 16 March 2007 the Group entered into a quota purchase agreement to acquire
all the interests in Eco Energy Beberibe Limitada for approximately $5.8
million. Subsequently, the Group signed an agreement with Wobben Windpower for
the purchase and installation of thirty-two wind turbines in the state of Ceara,
Brazil. The project has an estimated capacity of 25.6 MW and projected cost of
$67 million.





This information is provided by RNS
The company news service from the London Stock Exchange

As expected losses widened but the outlook remains incredible.
If you look one of the tables, not very clearly shown on here, it suggests they will be producing around 800'000 Mwh Per annum by Jan 09.

800'000 x $202 (Price per MwH) = $161'600'000 Per annum.
Their relationship and management of the CleanTech fund continues to move foward. It should help provide additional finance for future projects.

New market has been identified as North America and it will be interesting to see how they tackle it, suggestions have already been made that they are looking at several Biomass and other projects in the area.

Agreements with local S.American businesses are very strong.

As a long term play I think this is up there with the best.

Losses increased by 4-fold despite increased sales...The suggestion that it may produce does not neccessarily means it will meet the target by 2009


Econergy FY losses widen on surging staff costs; raises 2009 energy targets
AFX

LONDON (Thomson Financial) - Econergy International PLC reported widening full year pretax losses on surging staff costs and raised its energy generation targets as it anticipates exceeding levels set at its IPO last year.

The clean energy and carbon project developer reported full year pretax losses of 8.5 mln usd, from a loss last year of 2.2 mln, despite a rise in sales to 5 mln usd from 2 mln last time.

The company said the increase in operating loss, to 9.2 mln usd from 1.8 mln, was mainly due to additional costs for hiring experienced staff to grow its pipeline of clean energy projects, as well as other development costs.

Econergy said it is on track to significantly exceed the original targets set out at its initial public offering last year of delivering 1 mln megawatt hours by 2009. It now anticipates delivering 1.4 mln mwh gross, or 820,000 mwh net to the company.

It also established a new target to deliver 2.5 mln mwh gross by the end of 2010.



kathy.sandler@thomson.com

The 4 fold increase in sales is minute compared to what will happen at the end of 07 / start of 08. The sales they have already achieved are very small as I expected and would obviously not cover costs, ECG has sound potential for the future. And even if they dont meet their targets say by 50% - they'll still be turning over $80 million a year. And this isnt even counting their newest ventures in the USA, and the many still under negotiation.

From Shares Magazine 'Green Tips' Page 40.

EcoEnergy Cleans up in Brazil
Clean energy developer EcoEnergy (ECG:AIM) has upped its generation target to 2.5 million megawatt hours by the end of 2010 after acquisitions and progress at its existing operations have raised expectations. It already says it is on track to exceed 2009 targets with two Brazillian projects - hydroelectric plant Areia Branca and wind project Beberibe - both set to start commerical operation in 2008.
In february the company also bought a 50% stake in Bolivian hydroelectric company Corani, which has a capacity of 147 megawatts and generates around 20% of the country's electricity. At it's recent full year results, pre-tax losses widened to $8.5 million but it said this was mainly due to the additional costs of hiring experienced staff to help develop its pipeline.
During the year it generated revenues of $5 million but the bulk of this came from the company's carbon market activities. It currently has 11 million tonnes of CER's under management and tracks its prices against the phase II EU Emissions Trading Scheme levels, which have remained robust despite plunging stage I prices. It had $103.9 million in cash at the end of the year, which will be used to invest in its existing and further generation projects around Latin America. Shares in the company have plummeted over the last 2 months and are currently languishing around 82.5p but they look to have bottomed and should start to recover as more news on its progress is given.

Econergy International Plc
11 June 2007



Press release
For immediate release
11 May 2007


Econergy International PLC

Change of Adviser


Econergy International PLC, the clean energy and carbon project developer, is
pleased to announce the appointment of Dresdner Kleinwort Limited as its
nominated adviser and broker. The appointment is with immediate effect.


--ENDS--

Buy! Ive updated the header and will continue to do so as more newsflow and info flow through to me.

i agree potts ecg is a strong buy share is well cheap produces 20% of bolivia electric is some statement, will wait for a break out in the share price!

Press release
For immediate release
21 August 2007


Econergy International PLC

Econergy International acquires fourth renewable energy project in Latin America

Econergy International PLC ('Econergy International' or 'the Company'), a
renewable Independent Power Producer (IPP) focused primarily in the Americas, is
pleased to announce the signing of an acquisition agreement, subject to
governmental approvals for the transfer of permits and contracts in the ordinary
course of business, for the purchase of 100% of the 18 MW Pedra do Sal wind
project in the state of Piaui, Brazil and an agreement with Wobben Windpower to
install twenty 900 kW wind turbines.

Econergy is purchasing an 18 MW wind project at a class 1 wind site for
an upfront consideration of $0.46m with a further $2.78m to be paid on 12/31/11.

Econergy has signed an agreement with Wobben Windpower Industria e
Comercio Ltda., the Brazilian subsidiary of the German company, Enercon GmbH, to
purchase, install and maintain 20 x 900 kW E-44 wind turbines at the site, which
is located in the state of Piaui, Brazil.

Econergy anticipates that the project will generate approximately 61,000 MWh per
year and that the capital cost will be approximately $50 million. A Power
Purchase Agreement is already in place with Eletrobras, Brazil's
government-owned electric company, for a 20-year term at a starting tariff of
approximately $114 per MWh. The project is expected to enter into commercial
operations by January 2009.

With the addition of Pedra do Sal, Econergy International has three projects in
construction and one project in operation. Once fully operational, the total
generation from these four projects will be over one million megawatt hours.
Together with projects in late stage development, the Company remains on target
to deliver 1.4 million gross megawatt hours in 2009.

Press release
For immediate release
24 August 2007

Econergy International PLC

Proyecto Eolico Guanacaste (PEG) Project Signs Turbine Supply Agreement

Econergy International PLC ('Econergy International' or 'the Company'), a
renewable Independent Power Producer (IPP) focused primarily in the Americas, is
pleased to announce two significant developments with its 49.5 MW PEG wind
project in Costa Rica.

Signed turbine supply and installation agreement with
ENERCON GmbH ('ENERCON') for fifty-five E-44/900 kW turbines; and

Signed PartnerKonzept (O&M) agreement with ENERCON for an
11-year period that begins once PEG starts operations in 2008.

In 2006, Econergy and its partners, Saret de Costa Rica, S.A. and juwi GmbH (the
'Consortium'), submitted a bid to supply 49.5 MW of wind energy to Instituto
Costarricense de Electricidad ('ICE') in a competitive tender for a 20-year
Build, Own, Operate and Transfer contract. The Consortium now has a signed
agreement with ENERCON to supply and install fifty-five E-44/900 kW Wind Energy
Converters. In addition, the Consortium and ENERCON have signed an EPK (O&M)
agreement whereby ENERCON will provide PEG with a comprehensive operation,
maintenance and spare parts agreement for an 11-year period once PEG commences
operations in 2008.

Details of PEG were included in the final results for the year ended 31 December
2006 announced on 10th May 2007. Econergy now expects the project to annually
generate approximately 245,000 MWh, reflecting the exceptional load factors at
this excellent wind site, and 37,000 Certified Emissions Reductions (CERs),
increases of 23 per cent and 76 per cent respectively from our previous
estimates. The total estimated project cost for PEG has risen 10 per cent to
$103 million. Econergy's interest in the project is 45.9 per cent. We continue
to anticipate that the project will enter into partial commercial operations,
24.3 MW, during the fourth quarter of 2008, with the remainder coming on line in
the fourth quarter of 2009.

Tom Stoner, CEO at Econergy commented:

'The PEG project represents the third supply contract Econergy International has
signed with ENERCON or its subsidiary company, Wobben, for wind turbines in
Latin America.

These agreements continue to reinforce Econergy's reputation as one of the
leading renewable Independent Power Producers in the region with access to
quality OEM partners in a tight market for turbines.' He added: 'By signing the
O&M agreement, we are also reducing our project risk as we outsource safety
inspections, maintenance and repairs, among other activities, into the hands of
the experts who have engineered, tested and serviced this equipment. This all
ensures we are able to deliver our targeted output within our planned
timescale.'

More news and a new update that has revised output levels much higher by 26% and 76%, whilst the cost has only risen 10%.
This company is a sure fire long term bet to double over the next few years and pay a very healthy dividend during 09.

totally agree potts will be getting in soon just before final results I expect! lots of massive trades of late!

When are they likely to break even?

For the 6 months up to June 07 ECG recorded a 0.6$ million loss down from 3.4$ million in the same period of 06.
I would expect, as new projects come online, for ECG to become profitable in the first half of 08.

I am planning to make my holding the core of my portfolio within the month and am confident that there is a lot of money to be made through buying this one early

What are your thoughts on the admin expenses that ECG have been incurring?

Without them, they'd currently be running at a profit. Can the expenses be reduced to create a leaner company?

I assume the admin costs are coming from the number of deals that ECG is brokering, i.e. turbine agreements for their windfarms, management of the clean energy fund, brokerage of carbon credit deals and prolonged negotiations with governments (Which can be slow and expensive) to guarentee ownership and land rights for potential projects.
I believe these costs will begin to come in lower once ECG has established the vast majority of the paperwork involved with pipeline projects, IMO this will occur over the through 08 as deals are being finalised and signed for regarding turbines and ownership.

In answer to the second question yes the costs probably could be further streamlined but as above i think given time the admin costs will return to normal levels and ECG's profitability enhanced.

RNS regarding RBS/ABN 's holding in ECG. Suggests large players think Econergy is going in the right direction.

I think we could see a move to profitability in early 08

(Updated the header with new projects)

Think the Agcert problems are reflecting on ECG's SP.

Fall in the SP is heavily overdone.
Shares are undervalued even compared to some of the other bargains around the market at the moment. Full years out in May. Expect news of One, perhaps 2 new projects coming online