NEW YORK ( TheStreet) -- Shares of A-Power Energy Generation Systems ( APWR) rose in late trades Thursday after the China-based company said it's secured a contract for a new 4x200 megawatt coal-based power generating plant. A-Power estimates total investment for the project with Inner Mongolia Huolinhe Coal Trade Group. at roughly $597 million. The contract calls for A-Power to provide engineering, procurement, and construction of the plant, which is expected to be fully operational by the end of 2015.
The stock was last quoted at $5.64, up 9.5%, on volume of almost 45,000, according to Nasdaq.com. Year-to-date, the shares have fallen more than 70% based on Thursday's regular session close at $5.15. A-Power anticipates engineering work to begin in March 2011, and says the construction period for each of the four 200 megawatt turbine power generators included in the deal to take 18 months. Following the lead of the Thursday's regular session, after-hours action was sparse ahead of the extended Christmas holiday weekend. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: email@example.com
A-Power Energy Generation Systems (Nasdaq:APWR) hit a new 52-week low Monday as it is currently trading at $4.35, below its previous 52-week high of $11.15 with 4,406 shares traded as of 9:30 a.m. ET. Average volume has been 569,500 shares over the past 30 days.