A-Power Energy (APWR) Catches A Bid On $30 Million Biomass Plant Win

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08:12:02 pm on March 14, 2011

You don’t hear much about the wind business of A-Power Energy (APWR) anymore as the company clearly is becoming more of a distributed power systems EPC company.  That’s not bad news as long as the company continues to win these contracts which they have been doing in recent months.  Today, they announced a definitive contract to develop two 15MW biomass plants for the Xin County Guangchao Biomass Power Generation LCC for $30 million.  The project is expected to begin soon and be completed in about a year.

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Despite the move up today, shares of APWR remain in poor shape and are basically just filling the gap made on a big move down a few days ago.  However, the 4.50 level may prove to be an area of long term support especially if the company can surprise to the upside when they report earnings in a few weeks. 

 

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