A-Power Needs To Secure Financing For Wind Facility

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A-Power Energy Generation Systems Ltd. recently updated Sen. Harry Reid, D-Nev., on its proposed wind facility in the U.S. Reid was part of a congressional delegation that recently met with government officials and businessmen from Shenyang, China.

A-Power presently expects that it will need to secure external financing for the facility, and the availability of such external financing is not assured, according to the company.

A-Power wants to construct its first U.S. turbine assembly facility, which is expected to be located in Nevada. The company is currently leasing a 36,000 square-foot temporary facility in Henderson, Nev.

A-Power is seeking to assemble wind turbines in the U.S. in order to supply Spinning Star Energy LLC's proposed wind project in west Texas and other future customers in North and South America.

Spinning Star is a joint venture enterprise owned by U.S. Renewable Energy Group Wind Partners I LLC and Shenyang Power Group, and founded to develop and operate a 615 MW project in west Texas. The project is currently under development and requires additional external financing for completion, according to A-Power.

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