SHENYANG, China, Jan. 12, 2011 /PRNewswire-Asia-FirstCall/ -- 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, today announced that its 90% owned Liaoning International Construction Group Limited ("Liaoning") has signed a RMB 288 million (approximately $43 million) engineering, procurement, and construction contract with China Resources Land Limited (Shenyang) to develop the Oak Bay real estate project. Liaoning will act as the engineering, procurement, and construction contractor for the construction of the first-stage and second-stage of the project.
The Oak Bay project is located on Baishan Road in the Yuhong district of the city of Shenyang, China. The first and second stages of the project include 9 townhouses, 16 western-style houses, and 4 multi-level houses that will total about 150,000 square meters, with 100,000 square meters of area located above ground level and 50,000 square meters located underground. The project started construction recently and is expected to be completed to the contract's rough house specification on July 30, 2012.
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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SOURCE A-Power Energy Generation Systems, Ltd.