A-Power Energy signs $30.5m contract to build biomass power plant in China
Chinese wind turbine manufacturer A-Power Energy Generation Systems (NASDAQ:APWR) announced Monday that it has signed a RMB 200.7 million (roughly US$30.5 million) contract to develop a biomass power plant in Xin county, in the Shandong province of China.
The plant, which will be developed for Xin County Guangchao Biomass Power Generation, will consist of two 15 megawatt power generation units. The project is expected to begin shortly and be completed by mid 2012.
A-Power will carry out the design and construction of the power plant, which will be able to generate about 150 million kilowatt hours of electricity each year. The company rallied 4.6% on Monday to trade at $4.92 as of 10:50am EST.
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