A-Power Energy Generation (APWR) Gets 2nd Contract With China National Automation

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06:50:41 pm on October 6, 2008

A-Power Energy (APWR), once a high flying China wind play now trading less than 6 bucks a share is announcing some decent contracts.  Today, it announced  the 2nd contract with China National Automation and this one is 10x the size of the previous contract announced just a few days ago.   Under this contract APWR will deliver 50 2.7MW wind turbines by July of next year.

Said the CEO, “We are currently in late-stage discussions to sign additional contracts with CACS and the other parties that had signed letters of intent with A-Power in Q1 2008, which in aggregate provide for an additional 325 wind turbines. In addition, we are in discussions with a number of new potential buyers. Based on these discussions, we expect to announce additional contracts over the coming months for both our 2.7MW and 750kW wind turbine units.”

The news didn’t matter much today as just about every “green” stock got slaughtered.  A-Power (APWR) finished down nearly 10% today but significantly off the lows of the day.

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