NF Energy Saving Corp. Signs Contract with Adani Power Limited of India

Oct 12, 2010, 08:00 ET from NF Energy Saving Corp.

SHENYANG, China, Oct. 12 /PRNewswire-Asia/ -- NF Energy Saving Corp. (Nasdaq: NFEC) ("NF Energy" or the "Company"), a leading energy saving services provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, today announced that the Company signed a contract with Adani Power Maharashtra Limited to provide a comprehensive suite of energy efficient flow control services and systems to 2*660MW Roda supercritical coal-fired power plant in Maharashtra, India. The Company expects to generate U.S. GAAP revenue of RMB 4.17 million (approximately $613,235) from the contract.

Pursuant to the agreement, NF Energy will supply technical and consulting services, including set up and testing work and provide eight sets of cycle water electric control butterfly valves (four regulating valves and four on-off valves), plus spare parts for the devices for a term of three years. The deadline for delivery of the equipment to Adani Power is February 2011.

Adani Power Maharashtra Private Limited, a subsidiary of Adani Power Limited, is involved in the implementation of power projects at various locations throughout India.

"We are extremely excited to have signed this contract with Adani as they work to meet the ever-growing energy demands of the vibrant Indian economy in an energy-efficient manner," remarked Mr. Gang Li, NF Energy's Chief Executive Officer. "The agreement strengthens our existing presence in India, and is further evidence of the international recognition of our products and services to super-critical and ultra super-critical coal-fired power plants. We believe that this agreement will diversify our revenue streams geographically while cementing our focus on energy conservation services for the coal-fired power generation industry."

About NF Energy Saving Corporation

NF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit .

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    For more information, please contact:

    Company Contact:
     Ms. Lihua Wang, Director & CFO
     NF Energy Saving Corp.
     Phone: +86-24-8563-1159

    Investor Relations Contact:
     Mr. Mark Collinson, Partner
     CCG Investor Relations
     Phone: +1 310-954-1343

SOURCE NF Energy Saving Corp.