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Energy Power Systems Limited (EPS) (AMEX: EGY) (CDNX: YPS) (www.epsx.com) is a vertically integrated Independent Power Developer and a contractor of infrastructure projects that is well positioned to emerge as a world leader providing essential electrical energy from barge-mounted power plants to India and other developing countries. EPS operates through the co-ordination of its subsidiaries into a 'Power Division' and an 'Engineering & Contracting Division'. The companies are related and complimentary, but each subsidiary has a different emphasis. Incorporated to operate as standalone profit centers; combined they can form an effective engineering, procurement and construction alliance to build barge-mounted power plants. The strong potential of EPS is underscored by major market opportunities and revenue generating contracts for its subsidiaries. EPS intends to develop the Independent Power Project business of its Power Division and continue to expand the design and manufacturing business of its Engineering & Contracting Division into new geographic areas and complementary lines of business. A barge-mounted power plant project consists of four stages: development, financing, construction, and operation. Once a Power Purchase Agreement is executed by a special purpose company, EPS forms a consortium of powerr production companies to develop, finance, construct, own, and operate the power plant for the term of the Power Purchase Agreement. An alliance of Engineering, Procurement and Construction companies involving EPS subsidiaries is engaged to build the power plant. The company is well positioned to emerge as a leader providing barge-mounted power plants to India and other developing nations. Already, the Company, through its related India Special Purpose Companies, has secured potentially lucrative contracts to supply 410 megawatts of electrical energy to two separate State Electricity Boards in India. The Company plans to successfully implement the Andhra Pradesh Project and the Karnataka Project and build momentum by developing other independent power projects. For example, the Company is currently developing potential IPP projects in other Indian states, as well as in Bangladesh and Turkey. EPS anticipates securing additional Power Purchase Agreements and independent power projects. If this is successful, EPS-sponsored projects could create related Engineering, Procurement and Construction contracts for the Engineering & Contracting Division of EPS and increase the Company's portfolio of power projects internationally.
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