China's A-Power Energy wins US$19M contract to build 12-MW waste straw biomass heat, power plant in Yangxin county, Shandong province, China, scheduled to be complete by year's end
March 21, 2011
– A-Power Energy Generation Systems, Ltd. (Nasdaq:APWR - News) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, today announced that on March 11, 2011 it signed a definitive contract with a total value of RMB 125 million (approximately US$ 19 million) for the first phase development of a renewable energy project located in Yangxin county, Shandong province, China.
As the engineering, procurement, and construction contractor of the project's first phase, A-Power will develop a 12 megawatts biomass power generation plant, which will use waste straw to generate electricity for the provincial grid. The plant's owner is Yangxin County Jinyuan Biomass Thermal Power Generation LCC. The project began on March 18, 2011 and is scheduled to be completed by the end of 2011.
A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010 and acquired Hallys Corporation in May 2010.
In addition to the establishment of strategic relationships with some of the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies.
For more information, please visit http://www.apowerenergy.com.