SHENYANG, China, Dec. 23, 2010 /PRNewswire/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, announced that it has signed an engineering, procurement, and construction contract with Inner Mongolia Huolinhe Coal Trade Group Co., Ltd., ("Huolinhe Coal") for a 4x200 megawatt coal-based power generating plant.
The proposed power project will supply energy for Huolinhe Coal's electrolysis stone projects, which have been approved by the Tongliao municipal government. The power plant is a stand-alone system for micro-grid connections to supply the required power and gas for aluminum smelting. The total investment for the project is expected to be RMB 4 billion (approximately US$597 million).
The project includes four 1048 t/h circulating fluidized bed boilers with four 200 megawatt turbine power generators. With engineering scheduled to start in March 2011, the project is expected to be fully operational by December 31, 2015. The construction period for each of the four turbines is expected to be 18 months.
Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "This award further indicates that customers in our distributed power generation business believe that we deliver quality and performance at a competitive price. We are pleased to support Huolinhe Coal in creating this new power generation facility. With a project horizon of about five years, we believe this project will create additional value for shareholders."
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.
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For more information, please contact:
A-Power Energy Generation Systems, Ltd.
John S. Lin
Chief Operating Officer
Mobile: +1 480 332 6397
Mobile: +86 139 1141 3520 in Beijing
SOURCE A-Power Energy Generation Systems, Ltd.