SHENYANG, China, April 18, 2011 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. ("A-Power,"Nasdaq: APWR), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, today announced that on April 13, 2011, it signed a Memorandum of Understanding ("Memorandum") with Liaoyuan Zhongneng Electrical Equipment Ltd., for an engineering, procurement, and construction contract to develop a combined heat and power generation plant consisting of two 25 megawatt power generation units.
The plant, to be located in the city of Huinan in the Jilin province of China, will provide both heat and electricity to the local economic and technology development district. The total cost of the project is currently estimated to be RMB500 million (approximately US$75 million), according to the Memorandum.
A-Power expects to make a further announcement once the final contract has been signed.
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.