A-Power Energy Generation Systems Ltd. (APWR) agreed to build a biomass power plant in China under a contract valued at RMB200.7 million ($30.5 million).
The wind-turbine maker and provider of power-generation systems, which has been hurt by sagging wind-turbine sales in the past year, has been gaining contracts in other areas lately. A-Power in January said it won two contracts worth a total of about $58 million for a residential development and shopping center project in Northern China.
The company on Monday said the biomass project, which includes two 15 megawatt power-generating units in Shandong province, is expected to begin shortly and be completed by the middle of next year.
A-Power reported in December that its third-quarter loss widened as revenue plunged amid lower-than-expected sales of wind turbines.
Shares closed Friday at $4.70 and were inactive premarket. The shares are down 65% in 2010 amid the sagging wind-turbine sales.
