A-Power Energy (APWR) Moving On Contracts Of $75 Million

A-Power Energy (APWR) has vaulted about 15% in just the past 20 minutes on news it has signed contracts totaling $75 million with subsidiaries of Anhui Wenergy to build micro grid electricity generation systems using biomass as the fuel.  APWR will design, assemble, install, test and deliver two 30 MW biomass fueled electricity generation systems which are expected to be completed by Aug 2010.

“We are extremely excited to become the sole provider for Wenergy’s two high-profile alternative energy projects in one of China’s important industrial provinces,” said Mr. Jinxiang Lu, A-Power’s Chairman and CEO.”Wenergy’s ground-breaking biomass power plants are much bigger in scale and value than other biomass projects we have seen in China. As China is taking on more and more clean energy sources, our DG system solutions have received considerable government support. This is a vote of confidence in A-Power’s engineering prowess and the transferability of our DG services to biomass-based projects. With these two projects, A-Power has broadened its DG coverage to another important industrial company in China.”

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