A-Power to build 700MW cogeneration plant for $36.5MM in China

Source: A-Power Energy Generation Systems, Ltd.

A-Power Energy Generation Systems, (NSADAQ:APWR) a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, announced that it has signed a RMB 245 million (US$35.5 million) construction contract with the Number 2 Engineering Construction Company of the Northeast Electric Power Administrative Bureau. The project, signed in mid-November, is for the construction of 2x350 megawatt ultra supercritical power generation plant for heat and power cogeneration in the Dalian development zone of GD Power Development Co., Ltd. 

Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "We are pleased to announce this contract, which adds to our growing project pipeline of the past few months. With the strong deal flow in fourth quarter of 2010, we are also continuously striving to improve our financial performance and enhance value for shareholders." 

The construction area is located in the Economic and Technological Development Zone in Dalian, Liaoning province. A-Power will take responsibility for construction and installation of the number 1 boiler, the number 1 generator set, ash removal system, electrical system, and affiliated equipment, plus some fuel supply system construction. 

The project has started construction and is expected to be fully operational by September 30, 2011. A-Power will strictly comply with the national and industry standards for power projects.

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