A-potential Energy (APWR) Signs $300M Contract with Thailand

July 23rd, 2008 | Category: Finance News

I continue to believe that is an undiscovered gem, and despite the harrowing daily stock action I buy every dip, as I did yesterday. Another great distant term contract announced today; essentially 3.5 years and $300M. Considering they only are slated to do $400M in revenue for all of 2008, that’s a very nice frosting on the cake.

A-Power Energy Generation Systems announced today that it has signed a Memorandum of Understanding with the National potential Supply Co., Ltd., a subsidiary of Advance Agro Public Co. Ltd., a large Thai-based conglomerate, to develop a 600 MW distributed capability generation system worth approximately $300 million in Chachengsao Province, Thailand.
The project is expected to begin in August, 2008 and will be completed in approximately 42 months.
Mr. Jinxiang Lu, A-Power’s Chairman and CEO, commented, “This project represents a significant milestone for A-Power as it will be our largest distributed capability project and second major project with National capability Supply in Thailand. National potential Supply is a major provider of electricity to Thailand’s state-owned potential grid and we are excited to

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announce our expanded relationship with them.
Based on our performance on the contract we signed with them in April to construct a 300MW distributed ability system, we have reached an agreement to construct that new 600MW system and are in discussions for multiple other opportunities.”
Mr. Lu continues, “Thailand and other Southeast Asian countries continue to struggle to supply a consistent and adequate ability supply to feed their growing economies and based on our track record, efficient distributed capability system design and ability to quickly develop new high-quality systems, A-Power is well positioned for major contract wins in that region.”