A-Power Energy (APWR) has announced this morning that it has taken another step towards the development of the 600MW, $1.5 billion wind farm in Texas. Through its subsidiary Shenyang Power, the company has established a project company, made an initial investment of $36 million and received final approval from the Chinese National Development & Reform Commission. Shenyang is partnering with US Renewable Energy Group, Cielo Wind Power under the umbrella of a Delaware limited liability company for the sole purpose of designing, developing, constructing and managing this big wind energy project. As is the case with most large projects, success will depend on financing which the companies have yet to receive.
A-Power is seeing some buy interest in premarket trading, up about 7%.
China Energy Electricity usage UP 40% in January 2010
China’s electricity consumption in January 2010 grew 40.14 percent year-on-year to 353.1 billion kilowatt-hours (kWhs), the National Energy Administration (NEA) said in a statement on its website Friday.
Consumption in the primary industry sector topped 7 billion kWhs last month, up 23.5 percent year-on-year.
Secondary industry consumption rose 45.99 percent to 262.4 billion kWhs and the tertiary sector demand was up 25.61 percent to 39.8 billion kWhs.
Residential power use rose 25.9 percent to 44 billion kWhs, according to the statement.