A-Power Energy (APWR) Signs Another EPC Contract ($16.4 Million)

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10:53:13 am on December 14, 2010

A-Power Energy (APWR) is on a bit of a roll of late securing nearly $50 million in EPC contracts.  A couple days ago the company announced a $32 million contract with Hainan Century Light for a biomass plant and last night the company announced it has signed a $16.4 million contract with Handan Fengfeng Pengtong Coking for a power generation project which includes a coke oven gas boiler and a 15MW steam turbine generator.  Work has already begun and is expected to last nearly a year.  This is the 3rd project APWR has worked on for Handan.

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Mr. Jinxiang Lu, A-Power’s Chairman and CEO commented, “We are very pleased to have been selected for this project which is our third project for Handan Fengfeng. We view this not only as recognition of our capabilities but also of the quality of our work on earlier projects.”

Shares of APWR aren’t moving on the news, down about 2%.

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