In an answer to a question during our last earnings announcement regarding our joint venture with GE there appeared a statement implying that A-Power was dissatisfied with certain aspects of a gearbox being designed by GE for us in connection with our joint venture enterprise with GE China.
We retract our statements that GE cannot provide the drawings or satisfy our gearbox design requirements. We have no questions regarding the ability of GE to produce high quality wind turbine gearboxes.
We regret any impression to the contrary that may have been created by the response to a question posed during the question and answer portion of our earnings call.
A-Power Energy Generation Systems, Ltd. ("A-Power"),through its China-based operating subsidiaries, is a leading 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 DG projects of 25MW to 400MW, A-Power also operates one of the largest wind turbine manufacturing facilities in China and in March 2009, entered into an agreement to establish a partnership with W2E Wind To Energy GmbH 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.