A-Power Receives NDRC Approval and Makes Cash Contribution to Texas Wind Farm Project Company
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 its subsidiary, Shenyang Power Group ("SPG") has completed the establishment of a project company related to the development of a 600MW wind farm in Texas and has made an initial cash contribution of $36.625 million. In connection with the capital contribution, SPG has received final approval from the Chinese National Development and Reform Commission ("NDRC") to proceed with this project.
On December 16, 2009, SPG entered into a Limited Liability Company Agreement (the "LLC Agreement") with United States Renewable Energy Group Wind Partners I, LLC ("USREG Wind").
- Published: 16 February 2010
- Written by Editor