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China To Spend Almost Two Trillion on New Power by 2020

|Includes:A-Power Energy Generation Systems Ltd. (APWR), KOL, MEE

this article is why I am LONG on (OTC:APWR)

On Monday December 27, 2010, 11:25 am EST

NEW YORK (NYSE:AP) -- Shares of A-Power Energy Generation Systems Ltd. surged Monday after the Chinese energy company said it signed a contract to engineer and build a coal-based power plant.

A-Power stock rose 65 cents, or 12.6 percent, to $5.80 in morning trading.

A-Power said late Thursday that Inner Mongolia Huolinhe Coal Trade Group Co. is investing 4 billion yuan ($603.5 million) in the project. A-Power will provide engineering, procurement, and construction services for the plant, which will supply energy for Huolinhe Coal's electrolysis stone projects.

The company expects engineering on the project to start in March, and said it will take 18 months to make each of the four turbines. A-Power expects the plant to be fully operational by the end of 2015.

Author is very long on APWR
 

Stocks: APWR, KOL, PUDAQ, MEE