The partnership will align A-Power’s brands, marketing initiatives and developing presence in the U.S. with the production and technology of Baoding Huide’s assets. The two parties also expect to work closely on a broader range of initiatives, including research and development, joint ventures, resource sharing and new business opportunities.
Baoding Huide, an affiliate of China Aviation Industry Corporation, is a renewable energy company primarily focused on the development, manufacturing, and sales MW wind turbines and various design parts of wind energy equipments. Headquartered in Baoding National High-tech Zone in Hebei province, Baoding Huide has a total annual production capacity of more than 500 wind turbines (1000 MW) from its two manufacturing facilities in Tianjin and Inner Mongolia. It is also engaged in after-sale service support and the import/export of wind power equipment.
"We are very excited to partner with Baoding Huide as we continue to enhance our efforts in renewable energy development," Mr. Jinxiang Lu, Chairman and Chief Executive Officer of A-Power, commented. "This partnership is reflective of an ongoing movement towards a cleaner, no-emission and more energy efficient environment in China, the US and worldwide. The partnership will enhance A-Power’s wind business with Baoding Huide’s assembling facility of wind turbine equipment. We look forward to capitalizing on the opportunities available in China, the United States and elsewhere to meet the growing demand for wind power."
Mr. Bin Wang, Chairman of Baoding Huide said, "We believe this new partnership brings exciting opportunities for both companies. A-Power’s solid experience of overseas expansion together with Baoding Huide’s proven advantages in development and production create a team with great synergies and the ability to maximize product opportunities."
A-Power Energy Generation Systems, Ltd. ("A-Power") is an engineering, procurement and construction ("EPC") services company. Through its China-based operating subsidiaries, it is the largest provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly projects of 25 MW to 400 MW, A-Power operates one of the largest wind turbine manufacturing facilities in China and in March 2009, entered into an agreement to establish a joint venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang, Liaoning Province. It also acquired Evatech, a designer and manufacturer of industrial equipment for amorphous-silicon (a-Si) photovoltaic (PV) panels, in 2010.
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.