A-Power Energy Generation Systems (APWR) will acquire Shenyang Huaren Wind Power Technologies’ proprietary technology for commercially producing 1.5MW wind turbines.
A-Power Energy Generation Systems Ltd. [[APWR]], a provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced that it has signed an agreement with Shenyang Huaren Wind Power Technology Development Co., Ltd. to acquire Huaren’s proprietary technology to commercially produce and sell 1.5MW-grade wind turbines. In addition, A-Power has agreed to fulfill Huaren’s back order of ten units of the same turbines with a customer in China.
Pursuant to the contract, Huaren will transfer, within a month of the signing of the contract, the blueprints, the technical specifications and other related studies and manuals for the 1.5MW double-fed, variable-speed and constant-frequency wind turbines developed by Huaren to A-Power as well as its wind power business divisions. Huaren’s technicians will train and direct A-Power’s engineers and technicians on the assembly, installation and testing of the first prototype wind turbines based on Huaren’s technology. The contract expires July 28, 2012.
Based in Shenyang City, Liaoning Province, Huaren is a wind turbine technology licensing, consulting and training firm with more than 50 engineers. It is affiliated with the Wind Power Technology Research Institute of Shenyang Industrial University.
Upon receiving the 1.5MW wind turbine technology from Huaren, A-Power will apply for related patents and other intellectual property protection.
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