Quantcast

A-Power Energy Generation Systems Ltd. to Build Biomass-Based Micro-Grid Electricity Generation Systems in Huaian City of Jiangsu Province

May 27, 2009

SHENYANG, China, May 27 /PRNewswire-Asia-FirstCall/ — A-Power Energy
Generation Systems, Ltd. (Nasdaq: APWR) (“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 a
contract with Huaian Huapeng Biomass Electricity Co., Ltd. to design,
construct, install and test two 18MW electricity-generation systems using
biomass as fuel in the City of Huaian, Jiangsu Province. The total value of
the contract is estimated to be $52.8 million (RMB 360 million).

Pursuant to the contract, A-Power will be in charge of the overall design
of the biomass DG plant in Huaian, the construction of the facility, the
procurement, assembly and installation of equipment for steam turbines,
boilers, generators and dust-removers, and the setup of the heat pipe network
on site. The project is expected to be completed and in operation by December
2010
.

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 .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such
statement is made within the ‘safe harbor’ provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” and other similar
statements. Statements that are not historical facts, including statements
relating to anticipated future earnings, margins, and other operating results,
future growth, construction plans and anticipated capacities, production
schedules and entry into expanded markets are forward-looking statements. Such
forward-looking statements, based upon the current beliefs and expectations of
our management, are subject to risks and uncertainties, which could cause
actual results to differ materially from the forward-looking statements,
including but not limited to, the risk that: inclement weather conditions
could adversely affect our operating results in particular quarters and/or
fiscal years; we may experience construction and development delays on our
projects which could adversely affect our financial condition and operating
results; our limited operating history and recent entrance into new markets
may make it difficult for you to evaluate our business and future prospects;
the expected benefits of supply and partnership agreements may not materialize
to the extent expected or at all; we expect to rely increasingly on our
proprietary products and systems and on technology developed by our licensors
and partners, and if we or our licensors or partners become involved in an
intellectual property dispute, we may be forced to spend considerable
resources resolving such dispute; a decrease in the rate of growth of China’s
industry and economy may lead to a decrease in our revenues because industrial
companies in China are our principal source of revenues, as well as other
relevant risks detailed in our filings with the Securities and Exchange
Commission, including those set forth in our annual report filed on Form 20-F
for the fiscal year ended December 31, 2007. The information set forth herein
should be read in light of such risks. We assume no obligation to update the
information contained in this press release, except as required under
applicable law.

    For more information, please contact:

     John S. Lin
     Chief Strategy Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Valentine Ding / Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9412
     Email: valentine.ding@us.grayling.com
            dixon.chen@us.grayling.com

SOURCE A-Power Energy Generation Systems, Ltd.


Source: newswire



comments powered by Disqus