A-Power Moves in Pre-Market on Wind Deal
LIAONING, China (
) --
A-Power Energy Generation Systems
(APWR)
, was up more than 3% in the pre-market on Tuesday after it signed a technology license agreement with German firm
W2E Technologies
to manufacture, operate, service and sell T8x 2 megawatt (MW) wind turbines.
W2E Technologies granted A-Power an exclusive right to manufacture, operate, service and sell T8x 2.0 MW wind turbines in China and the United States. In addition, A-Power has obtained non-exclusive rights to market T8x products outside of China and the United States.
A-Power shares were up 58 cents to $18.42 in Tuesday's pre-market.
A-Power signed a large deal for the U.S. market towards the end of 2009, in West Texas.
A-Power's definitive agreement for the West Texas wind farm was signed in late December.
Chinese solar stocks also got off to a quick 2010 start on Monday, with the big competitive threats to the U.S. solar players like
First Solar
(FSLR) - Get Report
leading gains in the sector in yesterday's first trading session of the year.
General Electric
(GE) - Get Report
, a big competitor in the U.S. wind turbine market, also recently moved ahead with plans for a massive wind farm in Oregon.
-- Reported by Eric Rosenbaum in New York.
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