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A-Power Energy Generation Systems, Ltd. (APWR) Reports Two New Contracts

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

A-Power Energy Generation Systems, Ltd. reported the signing of two contracts to provide engineering and construction related services on two real estate projects in Asia. The company estimates that the combined revenues from the projects would be $56 million.

A-Power Energy said that it signed an agreement with Yingkou Tesco Real Estate Co., Ltd. to provide construction work at a shopping center in Liaoning, China. The work provided will include fire, ventilation, electrical and power substation. A-Power Energy said that the contract with Yingkou Tesco Real Estate Co., Ltd. is worth approximately $13.6 million, and would be completed by February 2011.

A-Power also signed an agreement with China Resources Land Ltd. to provide engineering, procurement, and construction services at the Oak Bay real estate project. This project is located in Shenyang, China, and A-Power estimates that the project would provide revenues of approximately $43 million.

Oak Bay is a residential housing project that is 150,000 square meters in size and comprises townhouses, houses and multifamily units. The contract will be completed by July 2012.

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