Company to Also Acquire Shenyang Huaren's Back Orders in China of 10 Units of the 1.5MW Wind Turbines
SHENYANG, China, July 28 /PRNewswire-Asia-FirstCall/ -- A-Power Energy
Generation Systems Ltd. (Nasdaq: APWR) ('A-Power' or 'the Company'), a leading
provider of distributed power generation ('DG') systems in China and a
fast-growing manufacturer of wind turbines, today announced that it has signed
an agreement with Shenyang Huaren Wind Power Technology Development Co., Ltd.
('Huaren') to acquire Huaren's proprietary technology to commercially produce
and sell 1.5MW-grade wind turbines. In addition, A-Power has agreed to fulfill
Huaren's back order of ten units of the same turbines with a customer in China.
Pursuant to the contract, Huaren will transfer, within a month of the
signing of the contract, the blueprints, the technical specifications and
other related studies and manuals for the 1.5MW double-fed, variable-speed and
constant-frequency wind turbines developed by Huaren to A-Power as well as its
wind power business divisions. Huaren's technicians will train and direct
A-Power's engineers and technicians on the assembly, installation and testing
of the first prototype wind turbines based on Huaren's technology. The
contract expires July 28, 2012.
Based in Shenyang City, Liaoning Province, Huaren is a wind turbine
technology licensing, consulting and training firm with more than 50 engineers.
It is affiliated with the Wind Power Technology Research Institute of Shenyang
Industrial University. For more information, please visit Huaren's
Chinese-language Website at http://www.hrwind.com/Html/main.asp .
Upon receiving the 1.5MW wind turbine technology from Huaren, A-Power will
apply for related patents and other intellectual property protection.
About A-Power
A-Power Energy Generation Systems Ltd. ('A-Power'), through its
China-based operating subsidiaries, is the largest provider of distributed
power generation systems in China, focusing on energy-efficient and
environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered
the wind energy market and has built China's largest wind turbine
manufacturing facility, located in Shenyang, Liaoning Province, with
technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and
a total annual production capacity of 1,125MW.
