A-Power Generation Systems (APWR) Selected To Supply West Texas Wind Farm

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10:10:05 am on October 30, 2009

A-Power Generation Systems just announced that they will supply a 600 MW wind farm in West Texas as a part of a joint venture between Shenyang Power Group the U.S. Renewable Energy Group and Cielo Wind Power LP. Under the agreement, the joint venture will purchase 240 units of 2.5MW wind turbines from A-Power, with delivery tentatively scheduled to start in March 2010.

In a press release, Mr. Jinxiang Lu, Chairman and CEO of A-Power and CEO of SPG, commented on the project:

“A-Power welcomes the opportunity of participating in this high-profile
wind power project in the United States. As both a supplier to the JV Project and an
equity-owner of SPG, A-Power will be able to export its wind turbines for the
first time and reduce its exposure to the intrinsic risks associated with such
a large-scale project. We like the tremendous opportunities in the United
States, which is the world’s largest wind power country. We are cognizant of
the recent policy push by the Obama Administration in the renewable energy
sector, and a stabilizing financing environment for renewable energy projects.
And we are attracted to the track record of Cielo Wind, the largest privately
held wind power project development company in the Southwest United States,
with a 16% market share for wind power installation in Texas. In this JV
Project, and the sales we expect to make to the joint venture, all of
A-Power’s previous investments — in production scale, in foreign technology
licenses, and in alliance with other power plant service companies — are
expected to come to fruition, and we look forward to entering into a sales
agreement with the JV Project and moving ahead with the production schedule as
set forth in today’s JV Agreement.”

Once the wind farm is complete, it will be the one of the largest wind farms in the country.

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