A-Power Energy Generation Sys (MM) (NASDAQ:APWRU)
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From Jun 2019 to Jun 2024
A-Power Energy Generation Systems, Ltd. (NASDAQ:APWR) (NASDAQ:APWRW)
(NASDAQ:APWRU) ("A-Power") announced today that it has
signed two new domestic contracts to develop distributed power
generation systems worth a combined $72.3 million. The first is a $44.5
million contract to construct a 24 MW distributed power generation
system for a new paper and pulp plant in Wuzhong, China. This project is
expected to begin in June 2008 and will take about 12 months to
complete. The second is a $27.8 million contract to construct a 24 MW
stand alone distributed power plant in Hailen, China. This project is
expected to begin this month and will be completed in approximately 12
months.
Mr. Jinxiang Lu, A-Power’s Chairman and CEO,
commented, “The growth of our distributed
power generation business continues to accelerate. These new contracts
are a testament to the market’s recognition of
our track record and our ability to quickly develop and construct
quality systems that meet the specific power and heat needs of our
customers. In addition to these new contracts announced today, we are in
discussions with a number of other potential distributed power
generation customers and we expect a majority, if not all, of these will
turn into contracts over the next few months.”
About A-Power
A-Power Energy Generation Systems, Ltd., formerly Chardan South China
Acquisition Corp., through its PRC operating subsidiary, Liaoning GaoKe
Energy Group Co., Ltd., is the largest provider of distributed power
generation systems in China and will enter into China’s
wind energy market in 2008. The Company is also focused on developing
and commercializing additional renewable energy technologies and has
strategic relationships with both Tsinghua University and the China
Sciences Academy in Guangzhou.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, about
A-Power and GaoKe. Forward-looking statements are statements that are
not historical facts. Including statements relating to expected future
contract performance targets and potential new contracts. Such
forward-looking statements, based upon the current beliefs and
expectations of A-Power’s and GaoKe’s
management, are subject to risks and uncertainties, which could cause
actual results to differ from the forward looking statements. The
following factors, among others, could cause actual results to differ
from those set forth in the forward-looking statements: business
conditions in China; continued compliance with government regulations;
legislation or regulatory environments, requirements or changes
adversely affecting the businesses in which GaoKe is engaged; cessation
or changes in government incentive programs; fluctuations in customer
demand; management of rapid growth and transitions to new markets;
intensity of competition from or introduction of new and superior
products by other providers of distributed power generation and other
energy generation technology; timing, approval and market acceptance of
new product introductions; general economic conditions; geopolitical
events and regulatory changes, as well as other relevant risks detailed
in A-Power’s filings with the Securities and
Exchange Commission. The information set forth herein should be read in
light of such risks. Neither A-Power nor GaoKe assumes any obligation to
update the information contained in this press release.