CORRECTED - CORRECTED-UPDATE 1-A-Power wins second deal in two days, shares

Thu Sep 30, 2010 3:18pm EDT

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(Corrects dollar value of contract in first bullet point and paragraph 1)

* Wins $36 mln deal to build power plants in China

* Had signed agreement worth $279 mln on Wednesday

* Shares up 12 pct

Sept 30 (Reuters) - China's A-Power Energy Generation Systems Ltd APWR.O on Thursday won a contract worth RMB 242 million ($36 million) to build power plants, its second such contract in as many days, sending its shares up 12 percent.

The contract is to build four power plants for the Liancheng Thermal Power Plant in the city of Hailun in the Heilongjiang province, A-Power said in a statement.

On Wednesday, the company, which also makes wind turbines, won a $279 million water conservancy development contract in the city of Baishan in Jilin province. [ID:nSGE68S0KT]

Both the contracts were won by A-Power's principal operating unit, GaoKe Energy, which contributes almost all of the company's revenue.

The contract wins come even as project delays in China have hurt the company's latest quarterly results. [ID:nSGE67P0IJ]

Shares of the Shenyang, China-based company, which have gained about 14 percent since its results, were trading up about 8 percent at $8.20 in late morning trade on Nasdaq. ($1=6.690 Yuan) (Reporting by Vaishnavi Bala in Bangalore; Editing by Unnikrishnan Nair)

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