In this case, you're adding more alcohol content from the sugar than water content.
if you prepared the concentrate (i.e. 3 cans cold water to 1 can concentrate, like frozen OJ cans), then you could very likely dilute the potential alcohol back down to a net gain of zero or possibly even a loss in alcohol, just depends how much fermentable sugar is in the concentrate.
Primary: English Mild
On tap: Pale Ale, Lancelot's Wheat, English Brown Ale, Steam Beer, HoovNuts IPA
Bottled: MOAM, Braggot, Raspberry Melomel, Merlot, Apfelwein, Pyment, Sweet mead, Cabernet
Gal in 2009: 27, Gal in 2010: 34, Gal in 2011: 13, Gal in 2012: 10