A-Power to develop biomass plant in China

• 13 years ago (2011-03-18)
• Junior Isles

Asia 846 Renewables 751

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A-Power Energy Generation Systems Ltd has signed a $30.5 million contract to develop a biomass power plant in Shandong province in China.

The power plant, which will consist of two 15 MW power generation units, will be built for Xin County Guangchao Biomass Power Generation LCC.

Constructiion of the project is expected to begin shortly and be completed by mid 2012, the company said.

The power plant will generate about 150 million kW/h of electricity each year, once it is connected to the national electric grid.

A-Power shares, which have lost about 26 per cent in the last six months, were at $5.20 in pre-market trade, but news of the biomass plant contract sent the Chinese green power firm's shares up 11 per cent in pre-market trade.