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April 21, 2009 – Comments (1) | RELATED TICKERS: APWR.DL

A-Power Energy Generation Systems Ltd. Wins Two Contracts Totaling $75.3 Million for Anhui Wenergy Co., Ltd.'s Biomass-Based Micro-Grid Electricity Generation Projects Tuesday April 21, 2009, 11:08 am EDT Buzz up! Print Related: A-Power Energy Generation Systems, Ltd.

SHENYANG, China, April 21 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR - News; "A-Power" or "the Company"), a leading provider of distributed power generation ("DG") systems in China and a fast-growing manufacturer of wind turbines, today announced it has signed contracts with the subsidiaries of Anhui Wenergy Co., Ltd. ("Wenergy") to build two micro-grid electricity-generation systems in Anhui Province based on biomass as the primary fuel. The total value of the two contracts is $75.3 million (RMB 516 million).

Related QuotesSymbolPriceChangeAPWR6.50-0.04{"s" : "apwr","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Pursuant to the contracts, A-Power will design, assemble, install, test and deliver two 30MW electricity-generation systems using biomass as fuel at Wenergy's DG plants in Shucheng County and Hanshan County in Anhui Province. The two projects are expected to be completed and in operation by August 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."

About Anhui Wenergy Co., Ltd.

Anhui Wenergy Co., Ltd. ("Wenergy") is listed on the Shenzhen Stock Exchange (ticker: 000543). According to Google Finance, it has a market cap of $6 billion and is primarily engaged in investment and operation of power generation, energy saving and other relevant projects. Wenergy's major product is electric power. During the year ended December 31, 2008, it generated approximately 8 billion kilowatt-hours of on-grid electricity. Wenergy distributes electric power in Anhui Province and Eastern China.

In January 2009, Wenergy announced that three of its subsidiaries gained $20 million (RMB 136 million) worth of subsidies from the Chinese government for the voluntary shutdown of five coal-fired electrical generators.

For more information on Wenergy, please log on http://www.wenergy.cn/ .

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.com .

1 Comments – Post Your Own

#1) On April 21, 2009 at 12:20 PM, Ecomike (< 20) wrote:

Nice post. I wil be following these for sure. Sounds like ones to watch. I have been impressed with the potential of biological conversion of biomass to energy for over 10 years now, but been unable to find many stock plays on it.

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