September 29, 2010 / 9:36 PM / 9 years ago

UPDATE 1-A-Power gets $279 mln engineering contract in China

* Signs three-phase, six-year deal

* Says contract provides better sales visibility into H2

* Expects to recognize revenue over six years

* Shares up 9 pct in extended trade

Sept 29 (Reuters) - Chinese green energy company A-Power Energy Generation Systems Ltd APWR.O said it received a three-phase, six-year RMB 1.87 billion ($279 million) engineering, procurement and construction contract (EPC) from Baishan Long Run Water Conservancy Development Co Ltd.

A-Power, a provider of distributed power generation systems and maker of wind turbines, said it expects to recognize revenue over six years on a percentage of completion method.

The Baishan long run water conservancy project, located in the city of Baishan in Jilin province, is divided into three phases, with each phase expected to last twenty four months.

A-Power competes with bigger rivals such as German solar cell producer Q-Cells QCEG.DE and Spanish windfarm operator Iberdrola (IBE.MC) in the emerging global clean-power sector.

Shares of the Shenyang, China-based company were up about 9 percent at $8.25 in extended trade. They closed at $7.58 Wednesday on Nasdaq. (Reporting by Soham Chatterjee in Bangalore; Editing by Vyas Mohan)

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