A-Power Energy (APWR), Shenyang Group Sign Agreements For Pakistan Geothermal & Biomass Projects

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03:28:52 pm on December 3, 2009

What started out as a shaky day for A-Power Energy (APWR) has turned into a great day.  The stock is surging off the lows of the morning after missing analyst expectations and has announced two new deals.  The first was the construction contract with Tieling Cement and now the company is announcing it has signed an agreement with Pakistan Amraas Intl to construct and operate two 25MW biomass power plants as well as a geothermal project.

A-Power will begin construction on on the two biomass plants next year with a contract value around $120 million.  Shenyang Power Group (which APWR is majority owner), will be the general contractor for the geothermal project.  No word on the financials of the geothermal project.

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will APWR land the Thailand and Macau DPG contracts??

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