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A-Power (APWR) Gets $90 Million, 49.5MW Wind Farm Contract
A-Power Energy (APWR) is surging nearly 10% this morning on news it has received a 49.5MW “full responsibility” contract valued at over $90 million to build a wind farm in Inner Mongolia called the Saiwusu Wind Farm. APWR will handle just about everything including supplying the turbines, towers and foundations, construction and installation. The project has already been approved by the National Resources Bureau of Inner Mongolia and the permit issued for transmission of power. It’s expected to begin in October and be completed by next June.
“We are truly excited to embark on our first wind farm full-responsibility project,” said Mr. Jinxiang Lu, Chairman and CEO of A-Power. “Inner Mongolia as we all know has the most promising wind energy potential among all of China’s provinces. Among the 787GW estimated exploitable wind power, only 1.6GW in capacity had been developed and installed as of September 2008, according to the Chinese Renewable Energy Industry Association. A-Power is very proud to set its foot in a region with such vast resources. We look forward to leveraging our superior wind turbine technologies, our engineering and construction expertise and our excellent relations with local governments, and making headways as a participant in the robust growth of the wind power market of China.”
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Oct.07
has apwr delivered any wind turbines to customers yet?