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A-Power Energy (APWR) In $52 Million Contract To Build Biomass Energy Facility
A-Power Energy (APWR) is tacking on to yesterday’s gains this morning after it was announced that the company has received a $52 million contract from Huaian Huapeng Biomass Electricity to design, construct and test two 18MW biomass energy facilities in China. The project is expected to be completed and in operation by the end of next year.
Just last month A-Power signed a $75 million contract with Anhui Wenergy to build two 30MW micro grid electricity systems using biomass as fuel, so clearly this is becoming a big revenue source for the company which also constructs wind energy facilities. That plant is expected to be online by August of next year.
APWR found support at the 20 day moving average yesterday and today is attacking the May high around 11.80.
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