A-Power Energy (APWR) Announces $32.5 Million EPC Contract For Biomass Plant

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11:09:45 am on December 10, 2010

A-Power Energy shareholders could use some good news and they are getting it this morning with news of a $32.5 million EPC contract with Hainan Century Light to build a biomass plant.  The project has already begun (last month) and is expected to continue for about 15 months.  That equates to a bit over $6 million a quarter in revenues which is less than 10% what the company does in a quarter to put the contract in perspective.

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Mr. Jinxiang Lu, A-Power’s Chairman and CEO commented, "We are pleased to announce this new contract which will generate additional revenues and profits over a relatively short period of time."

Shares of APWR are up 5% on the news and the stock is looking like it may make a run to test what is now resistance around the 5.70 area.

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Comments  

these past few days with smaller biomass DPG contracts will help forward guidance for 2011 for APWR shareholders……….the 300 Million over 6 years hydro will surely help alot over time

What APWR needs is more Thailand and the new Indonesia DPG contract along with introduction of the 22kwh hybrid wind solar LED light tower!

 
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