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PGI Energy and J & L Instrumentation & Power, LLC and Knox J & L Energy Solutions Form Joint Venture to Develop 1000 MW Power Plant in Ajaokuta Nigeria

HOUSTON, Jul 08, 2011(LevelStock.com News) -- PGI ENERGY, INC (Pink Sheets:PGIE) has entered into the electrical power generation market with its joint venture partners J & L Instrumentation & Power and its subsidiary Knox J & L Energy Solutions Limited. The parties will jointly develop several 1000 MW power plants in AJAOKUTA NIGERIA. PGI Energy shall provide funding through its institutional investor as a traditional project finance arranged by Pythagoras Group, a Houston boutique investment bank, which serves as chief finance underwriter for PGI. The project is a $700 Mil. construction plan which is secured by long term Power Purchase Agreement and EPC Agreement. The partners will share profits on a 50/50% ratio after debt service and agreed upon G & A. "We are excited to enter into the electrical utility business in a country that is underdeveloped with tremendous infrastructure development opportunities," said Robert Gandy, CEO of Pythagoras Group and Senior Underwriter for PGI Energy.

About J & L Instrumentation & Power

J & L Instrumentation has been very active in the construction of power facilities, refinery, instrumentation panel design and construction.

About us

PGI Energy, Inc., is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil and gas assets, refinery and pipeline sectors of the energy industry and other synergistic assets. The company will only acquire proven producing, and income producing assets.

For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us