China is spending and (OTC:APWR) is on the receiving end and has won a monster 597 Million DPG contract to build four 200MW Coal Plants. One only has to look at the cheap price per megawatt to figure out why coal continues to win in China!
SHENYANG, China, Dec. 23, 2010 /PRNewswire/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq:APWR - News) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, announced that it has signed an engineering, procurement, and construction contract with Inner Mongolia Huolinhe Coal Trade Group Co., Ltd., ("Huolinhe Coal") for a 4x200 megawatt coal-based power generating plant.
The proposed power project will supply energy for Huolinhe Coal's electrolysis stone projects, which have been approved by the Tongliao municipal government. The power plant is a stand-alone system for micro-grid connections to supply the required power and gas for aluminum smelting. The total investment for the project is expected to be RMB 4 billion (approximately US$597 million).
The project includes four 1048 t/h circulating fluidized bed boilers with four 200 megawatt turbine power generators. With engineering scheduled to start in March 2011, the project is expected to be fully operational by December 31, 2015. The construction period for each of the four turbines is expected to be 18 months.
Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "This award further indicates that customers in our distributed power generation business believe that we deliver quality and performance at a competitive price. We are pleased to support Huolinhe Coal in creating this new power generation facility. With a project horizon of about five years, we believe this project will create additional value for shareholders."
APWR has won 5 major new DPG contracts but this one along with the 300 Million hydro gives APWR future upside in stock price!
Author is LONG APWR