SHENYANG, China, April 23 /PRNewswire-Asia/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced that it will celebrate the launch of the final development phase of its jointly owned Texas Wind Farm with a ribbon-cutting ceremony in Las Vegas on Tuesday, April 27, 2010. The ceremony and a subsequent press conference will be held at 9:30 am local time in Las Vegas.
Mr. Jinxiang Lu, A-Power's Chairman and CEO, said, "We look forward to having our partners and guests join us at this event which marks our entry into the wind energy business in the U.S. America possesses excellent on-shore wind resources. Our presence in the U.S. demonstrates our commitment to the global low carbon energy market. We are excited about identifying a suitable site in Nevada for our planned wind turbine assembly facility. Strategically located in Nevada, such a facility would, when completed and operational, provide wind turbines for the Texas Wind Farm project and other potential wind project customers in North America, and would help to create jobs in the U.S."
The following parties will attend the event: Shenyang government officials, A-Power executives, Shenyang Power executives, US Renewable Energy Group executives, Cielo Wind executives, and other parties involved in the development of the Texas Wind Farm project. American Nevada Group executives will also be in attendance with respect to the planning for the proposed Nevada facility.
For reporters interested in attending the press conference, please RSVP with Stacy Dimakakos at (646) 284-9417 or stacy.dimakakos@grayling.com, who will also provide information on and directions to the specific location of the press conference.
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 a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.com .
Safe Harbor Statement\
This press release may contain forward-looking statements. Any such statement is made within the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the following list of risks: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; various memoranda of understandings we signed with third parties may not evolve into definitive contracts and thus, we may not derive revenues from such agreements; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, there may be changes in regulations that make it difficult or impossible to finance, develop or operate the Texas Wind Farm, changes in the general political, financial, and economic circumstances (in the United States, China or elsewhere) and the availability and relative price of competing sources of energy (oil, coal, natural gas, solar energy) may have a material adverse impact on the Texas Wind Farm, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.
