A-Power Energy (APWR) Breaking Out On New $36 Million Wind Energy Project (Donggang)

Posted by | # |
11:57:35 am on October 14, 2009

A-Power Energy (APWR) is breaking out of a base this morning with good volume on news that it has secured a new $36 million contract to supply equipment, construction services and installation for a wind farm in Shangdong Province (called the Donggang Wind Farm) for a subsidiary of Datang International Power.  The project is expected to begin next month and be completed within a year.  Initially, eight 2.5 and 2.7MW wind turbines will be installed but the project is expandable to 100MW.

Said APWR CEO Jinxiang Lu, “We are proud to announce our second wind farm full-responsibility project, after our Inner Mongolia project announcement in September.  To be able to work with Datang Power, which is China’s second largest state-owned power producer, speaks volume about our growing expertise in wind farm equipment supply, construction and engineering. We have already assembled teams for construction, installation and testing for the Rizhao Donggang project and will start on it early next month.”

Shares are currently up about 9% on the news.

Tags: , , ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment