A-Power Energy (APWR) Celebrating Final Development Phase Of Texas Wind Farm, But Files $100 Million Mixed Shelf

A-Power Energy (APWR) is jumping about 5% in pre-market trading on news it will celebrate the final development phase of the big Texas wind farm its working on with US Renewable Energy and Cielo Wind.  A ribbon cutting ceremony will take place next Tuesday in Las Vegas with a press conference to follow.  The company is currently look for a manufacturing site in Nevada to build wind turbines for this project and others in the US.  As it attempts to expand its US presence, there is still considerable opposition to the company’s wind energy ambitions here.

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APWR CEO Jinxiang Lu commented: “We look forward to having our partners and guests join us at this event which marks our entry into the wind energy business in the U.S. America possesses excellent on-shore wind resources. Our presence in the U.S. demonstrates our commitment to the global low carbon energy market. We are excited about identifying a suitable site in Nevada for our planned wind turbine assembly facility. Strategically located in Nevada, such a facility would, when completed and operational, provide wind turbines for the Texas Wind Farm project and other potential wind project customers in North America, and would help to create jobs in the U.S.”

This is relatively good news for a company in badly need of some, but it should also be noted that the company has filed a mixed shelf of nearly $100 million according to FlyOnTheWall.  Last time, this kind of dilution sent the stock reeling, but considering it’s 50% off the highs, maybe it doesn’t hurt as much this time around.  It is strange that the company would be looking to raise cash again with the stock at these levels.  Thoughts?

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