It’s been a long time since we’ve heard any news regarding the controversial 600MW wind farm in Texas in which China based A-Power Energy (APWR) owns a large portion, but yesterday the company announced it has shipped a 2MW prototype wind turbine  to Texas to be installed and tested.

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Mr. Jinxiang Lu, A-Power’s Chairman and CEO commented, "We are very excited to announce our much anticipated delivery of the prototype. We continue to believe that the Spinning Star Project will evolve into a first-rate renewable energy project that will be the model for future large scale wind projects throughout the US."

Shares of APWR have been crushed in the past year, but are starting to perk up a bit.  On Monday the stock surged with heavy volume, nudging above the 50 day moving average and in my opinion it’s now a mighty compelling play down at these levels.  We saw the continued expansion of GE into the China wind market a few days ago and APWR should benefit from growth in this industry as well.  Once the momentum begins to kick in to APWR once again, I believe the profit potential will be big.  A good approach would be go to scale in slowly, buying on pull backs ahead of its next earnings release.