Despite missing the Street’s view, A-Power Energy (APWR) is moving higher after hours.  That’s the kind of action that needs to be seen to mark a bottom in these green stocks.  It’s an indication that finally the doom and gloom has been fully priced in.  The company reported an EPS of .28/share, .04 lower than analyst estimates on revenues of 85.4 million which was also lower than what analysts were expecting.  APWR still expects 08 earnings of at least 1.05/share vs estimates of 1.08.

Interesting note from the CEO, commenting on power outages in China..

“During the first nine months of 2008, power supply shortages continued throughout China and Southeast Asia causing widespread blackouts and brownouts.Given this continued energy shortage, the Chinese government and various governments throughout Southeast Asia have continued to promote the development of local power generation as an efficient and cost-effective alternative to the overburdened main power grids. With this continued strong market demand for efficient power production throughout China and Southeast Asia we do not expect that our business will be negatively impacted by the global economic slowdown.”

On their developing wind turbine business..

We also continue to make great progress in our wind turbine business. We recently completed construction of the largest single wind turbine production facility in China – a 310,000 square foot facility in Shenyang. In addition,the components that we have secured for the initial 10 2.7 MW wind turbines began arriving at the port in Dalian, China this week. We expect that all of the components needed to produce the first 10 2.7MW turbines will be transferred to our wind facility in Shenyang by the end of November. For this reason, we are on-track to produce the first 10 2.7MW wind turbines this quarter and all 10 units are expected to be recognized as revenue in 2008.

I personally believe it’s too soon to consider a position in APWR, but keep it on the radar.  There is strong support around $4 and once the green stocks get going again APWR could explode higher.