Key Developments For A-Power Energy Generation Systems, Ltd.
A-Power Energy Generation Systems, Ltd. (APWR.O) (Nasdaq)
The U.S. Renewable Energy Group And A-Power Energy Generation Systems, Ltd. Announce Plans To Build Wind Energy Turbine Production And Assembly Plant In United States
The U.S. Renewable Energy Group (US-REG) has signed a cooperation agreement with AA-Power Energy Generation Systems, Ltd. under which both sides commit mutually to the development and construction of a new production and assembly plant in the United States that will supply highly advanced wind energy turbines to renewable energy projects throughout North and South America. The facility is expected to be 320,000 square feet and produce 1,100 megawatts of wind energy turbines annually, enough to power 330,000 homes. Upon completion, the facility is expected to employ approximately 1,000 American workers and will create additional jobs during the construction process. In addition to production and assembly at the new plant, the plan calls for many of the key wind turbine components to be sourced from U.S. manufacturers, further expanding the number of jobs created in the United States.
A-Power Energy Generation Systems, Ltd. Designated To Supply Wind Turbines To 600MW Wind Farm In West Texas
A-Power Energy Generation Systems, Ltd. announced that it has been designated to supply wind turbines to a China-U.S. joint venture project to develop a 600MW wind farm in West Texas.
A-Power Energy Generation Systems, Ltd. To Develop 19.5MW Wind Farm In Shandong Province
A-Power Energy Generation Systems, Ltd. announced that the Company has won a full-responsibility contract to develop a 19.5MW wind farm in the Donggang, Rizhao City of Shandong Province (the Rizhao Donggang Wind Farm), in Eastern China, for the Shandong subsidiary of Datang International Power Generation Co., Ltd. (Datang Power). The total value of the contract is $36.2 million. The estimated cost breakdown is; equipment procurement $33.7 million; construction and installation $1.9 million; miscellaneous $586,000. The project is due to commence November this year and the estimated completion time is November 2010.
A-Power Energy Generation Systems, Ltd. Signs Definitive Contract to Acquire Japanese Thin-Film PV Equipment Maker EVATECH Co., Ltd.
A-Power Energy Generation Systems, Ltd. announced that the Company has signed a definitive contract to acquire 100% of EVATECH Co., Ltd. (EVATECH) of Kyoto, Japan, a 22-year-old designer and manufacturer of industrial equipment for LCDs (liquid crystal displays), PDPs (plasma display panels) and, more recently, amorphous-silicon (a-Si) photovoltaic (PV) panels. The total consideration is $49.9 million in cash. The transaction is expected to close by the end of November 2009. A-Power is to fund 55% of the transaction from the Company's internal financial resources. The balance, or 45%, will come from foreign-investment grants from various levels of the local government (20% from the Liaoning Provincial Government, 20% from the Shenyang Municipal Government, and the remaining 5% from the Hunan New District Government in Shenyang).
A-Power Energy Generation Systems, Ltd. To Develop 49.5MW Wind Farm In Inner Mongolia For Jihe Orient Wind Energy Co., Ltd.
A-Power Energy Generation Systems, Ltd. announced that it has won a full-responsibility contract to develop a 49.5MW wind farm in the township of Saiwusu, Guba County, Inner Mongolia (the Saiwusu Wind Farm), for the Urat Rear Banner-based Jihe Orient Wind Energy Co., Ltd. (Jihe Orient). The total value of the contract is $90.5 million. A-Power is to supply the wind turbines, the towers and the foundations, and oversee the construction, subcontracting and installation for this project. The estimated cost breakdown is as follows: equipment procurement $84.2 million; construction and installation $4.8 million; miscellaneous $1.5 million. The project is due to commence early October this year and the estimated completion time is June 2010.
