The plant, to be located in the city of Huinan in the Jilin province of China, will provide both heat and electricity to the local economic and technology development district. The total cost of the project is currently estimated to be RMB500 million (approximately US$75 million), according to the Memorandum.

A-Power expects to make a further announcement once the final contract has been signed.

About A-Power

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 distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010, and acquired Hallys Corporation in May 2010.

In addition to the establishment of strategic relationships with some of 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.

For more information, please visit http://www.apowerenergy.....

Safe harbor statement

This news release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "expects," "estimates," "future," "intends," "may," "plans," "will," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under law.

SHENYANG, China, March 14, 2011 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, today announced that on March 8, 2011 it signed a definitive contract with a total value of RMB 200.7 million (approximately US$ 30.5 million) to develop a biomass power plant consisting of two 15 megawatt power generation units for the Xin County Guangchao Biomass Power Generation LCC (the "Owner"). The project is expected to begin shortly and be completed by mid 2012.

The biomass power plant will be located in Xin county in the Shandong province of China. As the engineering, procurement, and construction contractor, A-Power will carry out the design and construction of the power plant, procurement, and installation of two 15 megawatt pure condensed steam turbine generator sets, two straw-fired boilers with a capacity of producing 75 metric tons of steam per hour, auxiliary equipment, a heat pipeline system, and final delivery of the facility to the Owner. When the power plant is permitted to connect to China's national electric grid, it will be able to generate about 150 million kilowatt hours of electricity each year.

About A-Power

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 distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010 and acquired Hallys Corporation in May 2010.

In addition to the establishment of strategic relationships with some of 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.

For more information, please visit http://www.apowerenergy.com.

Safe harbor statement

This news release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "expects," "estimates," "future," "intends," "may," "plans," "will," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. The Company assumes no obligation to update the information contained in this news release, except as required by law.

SOURCE A-Power Energy Generation Systems, Ltd.

Source: PR Newswire (March 14, 2011 - 6:20 AM EDT)

http://www.zoominto.com/software/ieplugi...http://";

SHENYANG, China, Jan. 12, 2011 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR) ("A-Power" or the "Company"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, today announced that its 90% owned Liaoning International Construction Group Limited ("Liaoning") has signed a RMB 288 million (approximately $43 million) engineering, procurement, and construction contract with China Resources Land Limited (Shenyang) to develop the Oak Bay real estate project. Liaoning will act as the engineering, procurement, and construction contractor for the construction of the first-stage and second-stage of the project.

The Oak Bay project is located on Baishan Road in the Yuhong district of the city of Shenyang, China. The first and second stages of the project include 9 townhouses, 16 western-style houses, and 4 multi-level houses that will total about 150,000 square meters, with 100,000 square meters of area located above ground level and 50,000 square meters located underground. The project started construction recently and is expected to be completed to the contract's rough house specification on July 30, 2012.

About A-Power

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 distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010 and acquired Hallys Corporation in May 2010.

In addition to the establishment of strategic relationships with some of 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.

For more information, please visit http://www.apowerenergy.com.

Safe harbor statement

This news release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "expects," "estimates," "future," "intends," "may," "plans," "will," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required by law.

SOURCE A-Power Energy Generation Systems, Ltd.

Source: PR Newswire (January 12, 2011 - 6:10 AM EST)

The project, located in the Yingkou Life Space Shopping Center in the Zhanqian district of Yingkou, Liaoning province, includes decoration, air conditioning and ventilation, fire system, and electrical and power substation construction.

Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "We are excited to announce this agreement with Tesco, a prominent international retailer that is rapidly expanding in China. This project highlights our well-connected project resources and flexible engineering capability. We hope to win additional projects in the commercial real estate market."

The project has started construction and is estimated to be fully operational by February 2011. A-Power will strictly comply with national and construction industry standards.

About A-Power

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 distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010 and acquired Hallys Corporation in May 2010.

In addition to the establishment of strategic relationships with some of 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.

For more information, please visit http://www.apowerenergy.com.

Safe harbor statement

This news release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "expects," "estimates," "future," "intends," "may," "plans," "will," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required by law.

http://www.zoominto.com/software/ieplugi...http://";

The first phase of the contract is a 12.8 MW water control project in Baishan, in China’s Jilin province; that will be followed by a 64 MW hydro-power station in Laosong Township, and then two 16 MW hydro-pwoer station on the Baijianghe River.

About

A-Power Energy Generation Systems, Ltd. designs, constructs, and tests distributed power generation systems to factories and users in China. It incorporates standard power generating equipment into an integrated system that includes refined control systems to balance power generation with demand. Its target customers include companies operating in various industries, including steel, chemical, cement, food processing, and ethanol; and municipal governments, as well as state-owned Chinese power companies. The company is entering the wind turbine generator production business. The company was founded in 2003 and is based in Shenyang, China.

Last Trade: 7.58 52 Week: 21.039 – 5.72 Market Cap: 343.86 Million

Mr. Jinxiang Lu, A-Power's Chairman and CEO commented, "We are very excited to announce our much anticipated delivery of the prototype. We continue to believe that the Spinning Star Project will evolve into a first-rate renewable energy project that will be the model for future large scale wind projects throughout the US."

Testing results from the prototype would be used in connection with the development of and further supply to the Spinning Star Project and other potential customers of A-Power in the U.S. Shenyang Lucky Wind Power Equipment Co., Ltd., a 100% wholly-owned A-Power subsidiary, is designated as the exclusive supplier of wind turbines for the Spinning Star Project. Spinning Star Energy LLC is a joint-venture among Shenyang Power Group (SPG), a partly-owned Chinese subsidiary of A-Power, and U.S.-based developers.

About A-Power

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. 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. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may", "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    Second Quarter 2010 Financial Highlights
    -- Revenue increased 30.1% to $74.8 million from $57.5 million in the
       prior year period.
    -- Gross profit increased 51.1% to $11.6 million from $7.7 million in the
       prior year period.
    -- Gross margin was 15.5% compared to 13.4% in the prior year period.

Mr. Jinxiang Lu, A-Power's Chairman and CEO commented, "Our results in the second quarter were primarily driven by growth in our DG business, both domestically and internationally. This segment experienced larger project orders and also benefited from higher international sales in the second quarter which fueled our gross margin increase. We are pleased that our revenue contribution from international projects has exceeded 30% of total revenues for the first time this quarter. With significant wins in Vietnam, Pakistan and Thailand, we hope to continue building upon this international success. While our DG business generated EPC work for wind projects, we did not recognize revenue from wind turbine sales in the second quarter due to delays obtaining final permits for our 2.7 MW turbines scheduled for delivery to our Inner Mongolia and Shandong wind projects. We believe wind turbine sales will pick up in the second half of the year."

Second Quarter 2010 Financial Results

Revenues in the 2010 second quarter increased 30.1% to $74.8 million from $57.5 million in the second quarter of 2009. The increase was primarily due to higher revenues recognized in the Company's core DG business, with 2.3% of the total revenue attributable to the sale of PV solar equipment. Within the DG business segment, domestic sales represented approximately 67.4% of total revenue while International DG sales represented 32.6% of total DG revenue.

Gross profit in the second quarter increased 51.1% to $11.6 million from $7.7 million in the prior year period. Gross margin was 15.5%, up from 13.4% in the same quarter of 2009. The improvement in gross margin was attributable to an increase in large-scale DG orders as well as higher international sales which typically carry slightly higher margins.

Selling, general and administrative expenses in the second quarter were $8.7 million compared with $3.0 million in the prior year period. The increase in selling, general and administrative expenses was mainly due to the growth of the businesses and $2.7 million of SG&A expenses from Evatech Co. Ltd. ("Evatech") which the Company acquired in January 2010. The Company continues to shift PV solar production for Evatech to its home base in Shenyang. As a percentage of revenues, selling, general and administrative expenses increased to 11.7% for the second quarter of 2010 from 5.2% in the second quarter of 2009.

Operating income was $2.9 million, or 3.9% of revenue in the second quarter of 2010 compared with $4.7 million, or 8.2% of revenue in the prior year period.

GAAP net income attributable to A-Power in the 2010 second quarter increased 86.3% to $11.6 million, or $0.25 per diluted share, from $6.3 million, or $0.14 per diluted share in the prior year period. Non-GAAP net income, declined to $1.1 million from $4.7 million in prior year period. In the 2010 second quarter, total shares outstanding on a diluted basis were 46.5 million shares, an increase of 32%, compared with 35.3 million in the prior year period.

Please refer to the tables below for a complete financial overview of our second quarter and first half results for 2010 and a reconciliation of non-GAAP financial measures included in this announcement to the most comparable GAAP financial measures.

Balance Sheet

As of June 30, 2010, the Company had cash and cash equivalents and restricted cash totaling $182.7 compared to $179.8 million at December 31, 2009. Prepayments, deposits, other receivables from customers were $86.7 million compared with $52.5 million at the end of 2009. Short-term loans outstanding, as of June 30, 2010, were $63.1 million, compared with $19.9 million at December 31, 2009. Working capital increased by approximately $22.6 million in the 2010 second quarter to $178.1 million. Total stockholders' equity rose to $357.3 million at June 30, 2010 from $252.6 million at December 31, 2009.

Recent Developments

Earlier in August, 2010, the Company signed cooperative agreements with The United Steelworkers (USW) and Shenyang Power Group ("SPG"). A-Power and SPG anticipate purchasing over time approximately 50,000 tons of steel from suppliers with employees represented by the USW. The USW will also guide and work collaboratively on all aspects of A-Power's U.S. market strategies including manufacturing, assembly, component sourcing, distribution and wind energy project development. The Company expects that the cooperation with USW will benefit the development of its projects including the planning of a wind turbine assembly plant in Nevada and the ongoing development of the supply chain for the expected delivery of wind turbines to the 615MW wind farm under development in Texas.

In July 2010, the Company renewed its license agreement with German wind technology company Fuhrlander AG ("Fuhrlander"), and obtained the right to manufacture, operate, service and sell 2.7 MW wind turbines using Furhlander's F2500 technology throughout China. With the license agreement with Fuhrlander, the Company expects to bolster its position in the market of high capacity 2.7MW turbines, as the wind industry is increasingly transitioning to higher capacity turbines.

Also in the month of July, the Company's subsidiary, Shenyang (Ruixiang) Lucky Wind Power Equipments Co., Ltd. ("Ruixiang") has entered into a strategic partnership with Baoding Huide Wind Power Engineering Co. Ltd ("Baoding Huide"), a renewable energy company primarily focused on the development, manufacturing, and sales of 2.0 MW wind turbines and various design parts of wind power equipments in China. The partnership is intended to complement A-Power's wind business with Baoding Huide's assembly facility of wind turbine equipment to meet the growing demand for wind power in China, the United States and elsewhere.

Effective June 30, 2010, the Company appointed Mr. Kam F. Cheung to the position of Vice President of the International Division and Mr. Morris Li, Ph.D., to the position of Vice President of Solar Research and Development. Mr. Cheung has more than 20 years of business development, corporate finance, portfolio management, and securities underwriting experience including within the energy financing industry. Doctor Li contributes to the Company's proprietary PV cell production business and has more than 13 years of semiconductor industry experience.

Business Outlook

The Company reiterates its guidance for its full year 2010 outlook of revenues of $500 million and net income of $60 million. This guidance is based upon the on-going DG projects and revenues from the expected sale of wind turbines to be generated during the remainder of 2010.

Mr. Lu continued, "We have many compelling opportunities in our business that can drive our revenue growth significantly higher in the second half of the year. Our DG business is expected to remain the primary performance driver with sales coming from our existing 15 projects. Significant sales are also expected in our wind turbine business in the second half of the year. We expect to begin delivery of 2.0 MW or larger turbines to customers in the second half of 2010. We are building a platform that will establish A-Power as an emerging leader in both distributed power and alternative power generation systems and are working aggressively to capitalize on the long-term growth opportunities in these areas."

Conference Call

A-Power's management will host an earnings conference call August 26, 2010 at 8:00 am. U.S. Eastern Time. Listeners may access the call by dialing 1-866-713-8566, or 1-617-597-5325 for international callers, access code: 63631409. A webcast of the conference call will be available through the Company's website at http://www.apowerenergy.... . A replay of the call will be accessible through September 2, 2010 by dialing 1-888-286-801 or 1-617-801-6888 for international callers, access code: 54527452.

About A-Power

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 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. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may", "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

    A-Power Energy Generation Systems
     John S. Lin
     Chief Operating Officer
     Email: john@apowerenergy.com

    ICR, LLC.
     Mr. Bill Zima
     Tel:   +1-203-682-8200
     Email: Bill.zima@icrinc.com


                         (Financial Tables to Follow)


    GAAP-non-GAAP Reconciliation Table
     (unaudited)
                                                Three Months Ended June 30,
    USD 000                                        2010              2009
    Net Income attributable to A-Power - GAAP $    11,645      $      6,252
    Reconciliation Item:
          Stock-based compensation                    498               344
          Change in fair value of warrants        (12,641)           (1,894)
          Loss on acquisition                       1,608                --
    Adjusted Net Income attributable to
     A-Power - non-GAAP                       $     1,110      $      4,702



          A-Power Energy Generation Systems Limited and Subsidiaries
     Unaudited Consolidated Statements of Income and Comprehensive Income
                   (in Thousands of United States dollars)

                             Three        Three          Six         Six
                             months       months        months      months
                             ended        ended         ended       ended
                            June 30,     June 30,      June 30,    June 30,
                              2010         2009          2010        2009
                          (Unaudited)  (Unaudited)   (Unaudited)  (Unaudited)

    Revenues             $     74,808 $     57,518  $    142,145  $    88,717
    Cost of sales and
     business taxes            63,201       49,838       120,767       77,104

    Gross profit               11,607        7,680        21,378      $11,613

    Expenses
    Selling, general and
     administrative
     expenses                   8,722        2,990        17,638        5,554

    Income from
     operations                 2,885        4,690         3,740       $6,059

    Other income (expenses)
    Interest income
     (expenses)                    42           68            42           68
    Finance costs                (422)         (20)       (1,168)         (20)
    Gain (loss) on
     acquisition of
     Evatech                   (1,608)          --        11,981           --
    Other income
     (expense)                    (46)          78         1,464          217
    Accretion expense on
     convertible debt              --         (133)           --         (133)
    Change in fair value
     of warrants               12,642          624        26,842          624
    Change in fair value
     of embedded
     derivative -
     convertible notes             --        1,270            --        1,270

    Total other expenses
     (income)                  10,608        1,887        39,161        2,026

    Income before
     provision for
     income taxes              13,493        6,577        42,901       $8,085

    Provision for
     income taxes               2,231          138         2,457          148

    Net Income           $     11,262 $      6,439  $     40,444  $    $7,937

    Net loss (income)
     in subsidiaries
     attributable to
     noncontrolling
     interest                     383         (187)          502         (120)

    Net income
     attributable to
     A-Power Energy
     Generation Systems
     Ltd.                $     11,645 $      6,252  $     40,946  $    $7,817

    Weighted average
     number of common
     shares outstanding
     - basic               45,363,638   33,706,938    44,725,192   33,706,938
    Weighted average
     number of common
     shares outstanding
     - diluted             46,530,136   35,310,173    46,123,263   35,010,222
    EARNINGS (LOSS) PER
     SHARE - BASIC               0.26         0.19          0.92         0.23
    EARNINGS (LOSS) PER
     SHARE - DILUTED             0.25         0.14          0.89         0.19



          A-Power Energy Generation Systems Limited and Subsidiaries
                    Unaudited Consolidated Balance Sheets
                   (in Thousands of United States dollars)

                                                   June 30,     December 31,
                                                     2010           2009
                                                 (Unaudited)     (Audited)
    Assets
    Current assets

    Cash and cash equivalents                  $      125,408 $      166,476
    Restricted cash                                    57,301         13,399
    Short term investment                                  74             --
    Accounts receivable, net of allowance for
     doubtful accounts of $Nil (2009 - $Nil)           39,445         12,463
    Prepayments, deposits, other receivables           86,680         52,452
    Costs and estimated earnings in excess of
     billings on uncompleted projects                   3,625          2,967
    Inventories                                        27,937         10,327
    Due from related parties                              107            105

    Total current assets                              340,577        258,189

    Accounts receivable, net of allowance for
     doubtful accounts of $Nil (2009 - $Nil)            8,611          5,738
    Long term prepayments, deposits, other
     receivables                                        8,651             --
    Property, plant and equipment, net
     accumulated depreciation of $4,370 (2009 -
     $1,912)                                           74,556         58,617
    Goodwill and other Intangible assets, net
     accumulated depreciation of $1,226 (2009
     - $169)                                           47,468         22,412
    Deposits on intangible assets                       1,819          5,657
    Deferred income tax assets                          3,583          2,321
    Long term investments                              40,857          2,423


    Total assets                               $      526,122 $      355,357

    Liabilities and Stockholder's Equity
    Current liabilities

    Short-term bank loans                      $       63,114 $       19,852
    Accounts payable                                   34,136         15,415
    Other payables and accrued liabilities             31,400         24,619
    Customer deposits                                   5,134          9,994
    Billings in excess of costs and estimated
     earnings on uncompleted projects                   3,005          4,887
    Unearned revenue                                        2          1,419
    Due to related parties                              1,407          4,158
    Income and business taxes payable                   7,332          4,078
    Fair value of forward contracts                     1,585            516
    Warrants liability                                 15,409         17,750

    Total current liabilities                  $      162,524 $      102,688

    Deferred income tax liabilities                     3,985             31
    Long-term bank loans                                1,341             --
    Retirement benefit obligations                      1,003             --

    Total liabilities                          $      168,853 $      102,719

    Stockholders' equity

    Common shares, 150,000,000 authorized with
     par value of $0.0001 per share,
     45,363,638 shares issued (2009 -
     150,000,000 authorized, 39,585,706
     issued)                                                5              4
    Additional paid-in capital                        258,441        203,491
    Accumulated other comprehensive income              9,148          6,459
    Statutory reserves                                  4,197          4,155
    Retained earnings                                  39,253         (1,651)

    Total A-Power Energy Generation Systems
     Ltd. stockholders' equity                 $      311,044 $      212,458

    Noncontrolling interest                            46,225         40,180

    Total stockholders' equity                        357,269        252,638

    Total liabilities and stockholders'
     equity                                    $      526,122 $      355,357



          A-Power Energy Generation Systems Limited and Subsidiaries
               Unaudited Consolidated Statements of Cash Flows
                   (in Thousands of United States dollars)

                                                 Six months       Six months
                                                   ended            ended
                                               June 30, 2010    June 30, 2009
                                                (Unaudited)      (Unaudited)
    Cash flows from operating activities

    Net income                                   $   40,444       $    7,937
    Items not affecting cash:                            --               --
      Stock-based compensation                          996              549
      Amortization                                    3,790              453
      Future income tax recovery                        197               --
      Amortization of deferred financing costs          229               14
      Change in fair value of warrants              (26,841)            (624)
      Change in fair value of embedded
       derivatives                                       --           (1,270)
      Accretion expenses on convertible debt             --              133
      Loss recognized from GE Joint
      Venture                                            91               --
      Change in fair value of derivatives             1,058               --
      Gains on purchase of Evatech                  (11,981)              --
      Foreign exchange gain/loss                       (967)              --
                                                      7,016            7,192


    Changes in operating assets and liabilities:

    Accounts receivable                             (28,985)          (4,295)
    Inventories                                      (3,705)          (2,333)
    Costs and estimated earnings in excess of
     billings on uncompleted contracts                 (635)             (98)
    Prepayments, deposits and other receivables     (37,822)             962
    Accounts payable and accrued liabilities         (3,801)           5,860
    Customer deposits                                (5,119)          31,742
    Due to (from) related parties                        57               --
    Billings in excess of costs and estimated
     earnings on uncompleted contracts               (1,902)           5,299
    Income and business tax payable                   2,303            1,029
    Retirement benefit obligation                        56               --
    Unearned revenue                                 (1,417)              --
                                                    (73,954)          45,358
    Cash provided by (used in) investing

    Decrease in restricted bank balances            (43,519)           1,000
    Short term investment                               (73)              --
    Purchase of property, plant and equipment        (1,341)            (427)
    Payment of intangible assets                     (3,018)              --
    Construction in Progress                             --           (2,759)
    Loans repayment (payment) from (to) third
     party                                           (5,412)              --
    Purchase of land use right                           --               --
    Acquisition of subsidiary                        (2,201)              --
    Long term investments                           (36,625)              --
                                                    (92,189)          (2,186)


    Cash provided by (used in) financing

    Proceeds from share capital, net of
     cost                                             5,566               --
    Net proceeds from private placement              78,456               --
    Net proceeds from issuance of convertible
     debt                                                --           37,096
    Repayment of notes payable                           --               --
    Cash received from bank loans                    49,900               --
    Repayment of bank loans                          (6,800)              --
    Due to (from) related parties                    (2,875)           3,996
    Cash received from Hallys upon acquisition           90               --
    Cash received from Evatech upon acquisition         169               --
                                                    124,506           41,092


    Effect of exchange rate changes                     569              (36)

    Net increase in cash and cash equivalents       (41,068)          84,228

    Cash and cash equivalents, beginning of
     period                                         166,476           44,518
    Cash and cash equivalents, end of period     $  125,408       $  128,746

    Supplemental disclosures of cash flow
     information
    Interest paid                                       123                6
    Income tax paid                                   1,152               --

     First Quarter Financial Highlights

     -- Revenues were $67.3 million representing a 115.8% year-over-year
        increase;
     -- Gross margin increased to 14.5% from 12.6% in the first quarter of
        2009;
     -- Net income (GAAP) attributable to A-Power was $29.3 million, or $0.64
        per diluted share;
     -- Cash, cash equivalent and restricted cash were $220.4 million;
     -- Prepayments, deposits, other receivables from customers were $102.4
        million;
     -- Annual guidance for 2010 raised to revenues of $500 million with net
        income of $60 million.

Mr. Jinxiang Lu, A-Power's Chairman and CEO commented, "We are very excited with our strong revenue growth and solid gross margin expansion in the first quarter. Although the first quarter is typically a slow season in our DG activities in most parts of China due to the winter weather condition, we set new records for both revenue and net income growth in first quarter of 2010. Our geographic diversification into southern China and international projects are contributing more DG revenues. Our wind turbine business continues to gain traction and we remain confident in the market outlook, as our larger turbines are receiving favorable consideration in China, and the outlook for future turbine exports also appears promising. With more components arriving and our production expanding, we are continuing to move forward on all facets of our wind turbine business, both domestically and internationally. On the financial side, we continued to work to strengthen our balance sheet and manage our cash flow to prepare ourselves for further expansion during 2010."

First Quarter 2010 Financial Results

Revenues in the 2010 first quarter increased 115.8% to $67.3 million from $31.2 million in the first quarter of 2009. The increase was primarily due to continuing DG contracts including $9.8 million in revenue from our DG project in Vietnam.

Gross profit increased 248.4% to $9.8 million from $3.9 million in the same period of 2009. Gross margin was 14.5%, up from 12.6% in the same quarter of 2009. The improvement in gross margin was mainly attributable to higher sales and improved operating efficiencies.

Selling, general and administrative ("SG&A") expenses amounted to $8.9 million compared with $2.6 million in the previous year's same quarter. The increase in SG&A expenses was mainly due to the growth of the businesses and $2.8 million of SG&A expenses from Evatech Co. Ltd. ("Evatech") which the Company acquired in January 2010. As a percentage of revenues, SG&A expenses increased to 13.2% for the first quarter of 2010 from 8.2% in the first quarter of 2009.

Operating income was $0.9 million in the first quarter of 2010 compared with $1.4 million in the same period of 2009. This reduction in operating income was attributable principally to increased SG&A expenses, including $2.8 million of Evatech-related operating expenses.

During the 2010 first quarter, the Company recorded a one-time gain of $13.6 million from the investment in and acquisition of Evatech and a $14.2 million increase in the fair value of outstanding warrants.

GAAP net income attributable to A-Power for the 2010 first quarter was $29.3 million compared with net income of $1.6 million in the same period of 2009. Diluted earnings per share were $0.64 compared with diluted earnings per share $0.04 in the same quarter of 2009. In the 2010 first quarter, total shares outstanding on a diluted basis were 45.7 million shares compared with 34.7 million in the same period of 2009.

Non-GAAP net income for the first quarter of 2010 was $2.0 million, representing a 13.5% year-over-year increase from $1.8 million at the end of March 2009. Non-GAAP diluted earnings per share were $0.05, flat year-over-year, but based upon a significantly greater number of diluted shares outstanding in the 2010 quarter.

As of March 31, 2010, the Company had cash, cash equivalents and restricted cash totaling $220.4 million compared with $179.8 million at December 31, 2009. Prepayments, deposits, other receivables from customers were $102.4 million compared with $52.5 million at the end of 2009. Short-term loans outstanding, as of March 31, 2010, were $69.1 million. Working capital increased by approximately $18.0 million in the 2010 first quarter to $173.4 million. Total stockholders' equity rose to $339.6 million at March 31, 2010 from $252.6 million at December 31, 2009.

Please refer to the tables below for a complete financial overview of our first quarter results for 2010 and a reconciliation of non-GAAP financial measures included in this announcement to the most comparable GAAP financial measures.

Recent Developments

A-Power celebrated the launch of the final development phase of its jointly owned Texas Wind Farm with a ribbon-cutting ceremony in Las Vegas on Tuesday, April 27, 2010. The event was attended by representatives of the Shenyang local government, A-Power, Shenyang Power Group, US Renewable Energy Group, Cielo Wind, and other parties involved in the development of the Texas Wind Farm project. Executives from American Nevada Group also attended with respect to the planning for our proposed Nevada turbine facility.

Business Outlook

Management raised its view that revenues for 2010 will reach $500 million and net income will reach $60 million, from previously announced annual guidance of $380 million in revenues and $45 million in net income, respectively. These targets are based on the Company's current views on the operating and market conditions, which are subject to change and to future developments, including those referred to under our safe harbor statement below.

Conference Call

The Company will host a conference call, to be simultaneously webcast, on Thursday, June 10, 2010, at 8:00 a.m. Eastern Daylight Time or 8:00 p.m. Beijing Time. Interested parties may participate in the conference call by dialing +1-866-831-6162 begin_of_the_skype_highlighting +1-866-831-6162 end_of_the_skype_highlighting (North America) or +1-617-213-8852 begin_of_the_skype_highlighting +1-617-213-8852 end_of_the_skype_highlighting (International), passcode: 21047672, approximately 10 minutes before the call start time. A live webcast of the conference call will be available on the Company's website at http://www.apowerenergy.... .

A replay of the call will be available starting on approximately 11:00 a.m. EDT on June 10, or 11:00 p.m. Beijing Time through June 15, 2010. An archived webcast of the conference call will be available on the Company's website at http://www.apowerenergy.... . Interested parties may access the replay by dialing +1-888-286-8010 begin_of_the_skype_highlighting +1-888-286-8010 end_of_the_skype_highlighting (North America) or +1-617-801-6888 begin_of_the_skype_highlighting +1-617-801-6888 end_of_the_skype_highlighting (International) and entering passcode: 56967299.

About A-Power

A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. 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. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may", "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

Use of Non-GAAP Financial Measures

To supplement our financial results presented on a GAAP basis, we have presented the non-GAAP measure indicated in the table and language in this press release, which excludes certain business combination accounting entries and expenses related to acquisitions, as well as expenses for stock-based compensations. We believe both management and investors benefit from the ability to assess our business operations and financial performance after elimination of the non-recurring effects of the acquisition and other identified non-cash activities and that our presentation of non-GAAP net income is useful for understanding and assessing underlying business performance and operating trends. Our presentation of non-GAAP net income is not meant to be considered in isolation or as a substitute for net income determined in accordance with GAAP, and should be read only in conjunction with the accompanying financial information, which is derived from our consolidated financial statements prepared in accordance with GAAP. Non-GAAP net income as presented herein may not be comparable to any similar measures presented by other companies. Our non-GAAP financial measures reflect adjustments based on the following items: 1) Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues such expense is not an indicator used by management to measure the Company's core operating results and business outlook. 2) Gain from acquisition: We have excluded the effect of Gain from acquisition from our non-GAAP operating expenses and net income measures. The gain from acquisition is non-recurring and is not indicative of the Company's core operating results. 3) Change in fair value of warrants: We have excluded the effect of change in fair value of warrants from our non-GAAP operating expenses and net income measures. The Company values the warrants quarterly and the Change in fair value of warrants does not represent cash inflows or outflows.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Phone: +1-646-284-9403 begin_of_the_skype_highlighting              +1-646-284-9403      end_of_the_skype_highlighting
     Email: dixon.chen@grayling.com


                               - Tables Follow -



    A-Power Energy Generation Systems, Ltd. and Subsidiaries
    Condensed Consolidated Balance Sheets
    (In Thousands of United States Dollars)


                                                      March 31,   December 31,
                                                        2010         2009
                                                    (Unaudited)    (Audited)
    Assets
    Current assets

    Cash and cash equivalents                    $     157,639  $    166,476
    Restricted cash                                     62,740        13,399
    Accounts receivable, net of allowance for
     doubtful accounts of $Nil(2009-$Nil)               15,145        12,463
    Prepayments, deposits, other receivables           102,367        52,452
    Costs and estimated earnings in excess of
     billings on uncompleted projects                    2,986         2,967
    Inventory                                           23,940        10,327
    Due from related parties                               106           105
    Total current assets                               364,923       258,189

    Deferred income tax asset                            4,387         2,321
    Accounts receivable, net of allowance for
     doubtful accounts of $Nil(2009-$Nil)                5,603         5,738
    Property, plant and equipment, net of
     accumulated depreciation of
     $14,149(2009-$2,912)                               71,929        58,617
    Intangible assets, net of accumulated
     depreciation of $630 (2009 - $169)                 43,166        22,412
    LT prepayment and other assets                          36            --
    Deposits on intangible assets                        1,407         5,657
    Long-Term Investment                                40,629         2,423

    Total assets                                       532,080       355,357

    Liabilities and Stockholder's Equity
    Current Liabilities

    Accounts payable                                    16,802        15,415
    Other payable and accrued liabilities               31,772        24,619
    Customer deposits                                   12,036         9,994
    Billings in excess of costs and estimated
     earnings on uncompleted projects                    3,961         4,887

    Unearned Revenue                                         2         1,419
    Due to related parties                              18,943         4,158
    Income and business taxes payable                    5,634         4,078

    Short-term Loans                                    69,090        19,852

    Defer tax Liability                                  3,847            31

    Warrants liability                                  28,051        17,750
                                                                         516
    Fair Value of Forward Contracts                      1,428            --
    Retirement benefit obligation                          915            --

    Total liabilities                                  192,481       102,719

    Stockholders' equity

    Common shares, 150,000,000 authorized with
     par value of $0.0001 per share, 45,363,638
     Shares and 39,585,706 shares issued as of
     March 31, 2010 and December 31, 2009
     respectively                                            5             4
    Additional paid-in capital                         257,943       203,491
    Accumulated other comprehensive income               4,217         6,459
    Statutory reserves                                   4,197         4,155
    Retained earnings (deficit)                         27,608        (1,651)

    Total A-Power Energy Generation System Ltd.
     stockholders' equity                              293,970       212,458

    Noncontrolling interest                             45,629        40,180

    Total stockholders' equity                         339,599       252,638

    Total liabilities and stockholders' equity   $     532,080  $    355,357



    A-Power Energy Generation Systems, Ltd. and Subsidiaries
    Condensed Consolidated Statements of Income and Comprehensive Income
    (In Thousands of United States Dollars, Except Shares and per share
     amounts )

                                                  Three Months ended March 31,
                                                       2010           2009
                                                   (Unaudited)    (Unaudited)

    Revenues                                   $       67,337  $      31,199

    Cost of sales and business taxes                   57,566         27,266


    Gross profit                                        9,771          3,933

    Expenses
    Selling, general and administrative
     expenses                                           8,916          2,564


    Income from operations                                855         $1,369

    Other income (expense)

    Finance costs                                        (746)            --

    Gain on investment acquisition of Evatech          13,589             --

    Other income                                        1,510            139

    Change in fair value of warrants                   14,200             --


    Income before provision for income taxes   $       29,408  $       1,508


    Provision for income taxes                            226             10


    Net Income                                 $      $29,182  $      $1,498

    Add:Net loss in subsidiaries attributable
     to noncontrolling interest                           119             67

    Net income attributable to A-Power Energy
     Generation Systems Ltd.                   $      $29,301  $      $1,565


    Loss in Foreign currency translation               (2,241)          (211)


    Comprehensive income                       $      $27,060  $      $1,354

    Weighted average number of common shares
     outstanding - basic                           44,079,653     33,706,938
    Weighted average number of common shares
     outstanding - diluted                         45,703,745     34,706,938


    EARNINGS PER SHARE - BASIC                 $         0.66  $        0.04

    EARNINGS PER SHARE - DILUTED               $         0.64  $        0.04



    A-Power Energy Generation Systems, Ltd. and Subsidiaries
    Consolidated Statements of Cash Flows
    For the three months period ended March 31, 2010
    (In Thousands of United States Dollars)


                                       Three months ended  Three months ended
                                           March 31, 2010      March 31, 2009
                                               (Unaudited)        (Unaudited)
    Cash flows from operating
     activities:

    Net income                          $          29,182 $            1,498

    Adjustments to reconcile net income
     to cash provided by operating
     activities:

    Stock-based compensation                          498                206
    Amortization - PPE                                973                255
    Amortization - Intangible assets                  624                 --
    Future income tax recovery                        152                 --
    Change in fair value of warrants              (14,200)                --
    Change in fair value of derivatives               911                 --
    Foreign exchange gain/loss                       (771)                --
    Amortization of deferred financing
     costs                                           (117)                --
    Loss recognized from GE Joint
     Venture                                           33                 --
    Gains on purchase of Evatech                  (13,589)                --
                                                    3,696              1,959

    Changes in operating assets and
     liabilities:

    Accounts receivable                            (1,813)            (4,346)
    Costs and estimated earnings in excess
     of billings on uncompleted contracts             (19)                74
    Prepayments, deposits and other
     receivables                                  (46,462)               (58)
    Inventories                                      (243)              (785)
    Accounts payable and accrued
     liabilities                                  (18,667)             4,273
    Customer deposits                               2,042             13,518
    Billings in excess of costs and
     estimated earnings on
     uncompleted contracts                           (926)               225
    Income and business taxes payable                 656                793
    Unearned revenue                               (1,417)                --
    Retirement benefit obligation                      23                 --
    Due (from) related parties                          1                 --

    Net cash (used in) provided by
     operating activities                         (63,129)            15,653

    Cash flows from investing
     activities:

    (Increase) decrease in restricted
     bank balances                                (49,331)             2,000
    Purchase of property, plant, and
     equipment                                       (169)              (327)
    Payments of deposits on intangible
     assets                                        (1,407)                --
    Purchase of intangible assets                  (1,200)                --
    Construction in progress                           --             (2,726)
    Loan to third parties                          (4,541)              (500)
    Long-term investment                          (36,625)                --
    Net cash used in investing activities         (93,273)            (1,553)

    Cash flows from financing activities:

    Proceeds from bank loans                       49,900                 --
    Proceeds from share capital, net of
     cost                                           5,566                 --
    Proceeds from private placement, net
     of direct cost                                78,456                 --
    Due to related parties                         14,718              3,000
    Cash received from Evatech upon
     acquisition                                      169                 --

    Net cash used in financing activities:        148,809              3,000

    Effect of exchange rate change                 (1,245)               (58)

    Net increase in cash and cash
     equivalents                                   (8,838)            17,042

    Cash and cash equivalents, beginning
     of period                          $         166,476 $           43,518
    Cash and cash equivalents, end of
     period                             $         157,638 $           60,560



    GAAP-non-GAAP Reconciliation Table (unaudited)
    (In thousands of United States Dollars, except per share data)

                                                    Three Months Ended
                                                          March 31,
                                                       2010            2009

    Net Income attributable to A-Power -GAAP    $     29,301     $     1,565
      Add Back
    Non-cash Stock-based Compensation           $        498     $       206
         Subtract
    Change in fair value of warrants            $    (14,200)    $        --
    Evatech-related acquisition gain                 (13,589)             --
    Adjusted Net Income attributable to A-Power
     -non-GAAP                                  $      2,010     $     1,771

    Diluted earning per share - GAAP            $       0.64     $      0.05
      Adjustment                                       (0.59)             --
    Adjusted diluted earning per share non-GAAP $       0.05     $      0.05

SHENYANG, China, March 31 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq:APWR - News) ("A-Power" or "the Company"), a leading provider of distributed power generation systems in China and a fast- growing manufacturer of wind turbines, today reported its unaudited financial results for the fourth quarter, and the fiscal year ended December 31, 2009.

     4Q09 Financial Highlights
     -- Revenues were $125.9 million for a 54.6% year-over-year increase;
     -- Gross margin was 21.3% vs. 17.8% in 4Q08;
     -- Excluding the expenses and non-cash losses related to the convertible
        bond and warrants, non-GAAP Net Income attributable to common
        shareholders for Q4 was $20.6 million, or non-GAAP diluted EPS $0.61;
     -- GAAP loss was $23.9 million, or $0.69 per diluted share;
     -- Cash, Cash equivalent and restricted cash were $179.8 million.

     Fiscal Year 2009 Highlights
     -- Annual net revenue increased 17.5% year-over-year to $311.3 million;
     -- Gross margin was 16.4%;
     -- Operating income rose to $38.4 million from $28.2 million in 2008;
     -- Excluding the expenses and non-cash losses related to the convertible
        bond and warrants, non-GAAP Net Income attributable to common
        stockholders for the fiscal year 2009 was $36.1 million, or non-GAAP
        EPS $1.05;
     -- GAAP net loss was $16.7 million, or $0.49 diluted per share.

Mr. Jinxiang Lu, A-Power's Chairman and CEO commented, "We are very pleased with our fourth quarter results and continued delivery of annual growth featuring both our award-winning distribution power generation turn-key contract services and emerging wind turbine production. As China has demonstrated its economic resilience throughout the global financial crisis and renewed its growth momentum driven by further infrastructure build-out and rapid urbanization, power generation continues to stay in the lime light. Whether our DG micro-grid to complement often stressed state grids, or our large wind turbines to provide better economies of scale, A-Power focuses on bringing the best cost-effective solutions to the marketplace. While we are aligning our strategic positions in Japan and US, our goal remains intact by leveraging best-of-breed renewable technologies to benefit the vast end users and maximize our shareholders' long-term value."

    Fourth Quarter 2009 Financial Results
    Summary of Financial Results
    (Thousand US dollars except earnings per share)

                                                     For the Three Months
                                                       Ended December 31,
                                                         2009      2008

    Total revenue                                     $125,888    $81,418
    GAAP Net income (Loss)                             (23,886)    10,017
      Accretion expense on convertible debt             1,113          --
      Change in fair value of warrants                  9,262          --
      Change in fair value of embedded derivative      20,853          --
      Make-whole amount paid on conversion              9,886          --
      Fair value of inducement                          3,394          --
    Adjustments to the Net Income                      44,508          --
    Non-GAAP Net Income                                20,622      10,017
    GAAP Earnings (loss) per share                      (0.69)       0.30
    Adjustment to diluted EPS                            1.30          --
    Non-GAAP diluted EPS                                 0.61        0.30

Revenues in the 2009 fourth quarter increased to $125.9 million from $81.4 million from the fourth quarter of 2008. The increase was primarily due to increased DG revenues and revenue recognition of 10 wind turbine units sold in the fourth quarter.

Gross profit increased 84.9% to $26.9 million from $14.5 million in the same period of 2008. Gross margin was 21.3%, up from 17.8% in the same period of 2008. The improvement in gross margin was mainly attributable to sales of 2.7MW wind turbines which carry higher gross margin.

Selling, general and administrative expenses amounted to $4.0 million, an increase of $0.3 million from $3.7 million in the previous year. As a percentage of revenues, these expenses decreased from 4.9% in the fourth quarter of 2008 to 3.2% for the fourth quarter of 2009. The decline was mainly attributable to higher revenues driven by wind turbine sales.

Operating income was $22.8 million, compared with $10.8 million in the same period of 2008, reflecting a 111.4% year-over-year increase.

Excluding the expenses and non-cash losses related to the convertible bond and warrants, Non-GAAP net income was $20.6 million compared with $10.0 million in the fourth quarter of 2008. Non-GAAP diluted EPS was $0.61, compared with $0.30 in the fourth quarter of 2008.

GAAP net loss for the fourth quarter was $23.9 million, compared with a net income of $10.0 million in the same period of 2008. Diluted loss per share were $0.69, compared with diluted earning per share $0.30 in the same period of 2008.

As of December 31, 2009, the Company had cash and cash equivalents and restricted cash totaling $179.8 million, compared with $47.1 million at the end of December 2008.

Total shareholders' equity rose to $252.6 million at December 31, 2009, from $155.3 million at December 31, 2008.

    Fiscal year 2009 Results

    Summary of Financial Results
    (Thousand US dollars except earnings per share)

                                                        Fiscal Year
                                                   2009            2008
    Total revenue                                $311,252       $264,866
    GAAP Net income (Loss)                        (16,692)        28,516

      Accretion expense on convertible debt         2,280             --
      Change in fair value of warrants             11,596             --
      Change in fair value of embedded derivative  25,611             --
      Make-whole amount paid on conversion          9,886             --
      Fair value of inducement                      3,394             --
    Adjustments to the Net Income                  52,767             --
    Non-GAAP Net Income                            36,075         28,516
    GAAP Earnings (loss) per share                  (0.49)          0.94
    Adjustment to diluted EPS                        1.54             --
    Non-GAAP diluted EPS                             1.05           0.94
    Diluted avg. number of common shares       34,199,100     30,432,434

For the fiscal year 2009, net revenue increased year-over-year by 17.5% to $311.3 million.

Gross profit increased 38.5% to $51.1 million from $36.9 million in 2008. Gross margin was 16.4% compared with 13.9% in the same period of 2008. The increase in gross margin was mainly attributable to sales of 2.7MW wind turbines which carry higher gross margin.

Selling, general and administrative expenses were $12.8 million, compared with $8.7 million in 2008. The increase was mainly due to all activities related to the Evatech acquisition, the Texas wind farm project and Nevada assembly facility location selection.

Operating income in 2009 rose 35.7% to $38.2 million from $29.0 million in 2008. The increased income was generated by higher gross profit partially offset by higher operating expenses.

Excluding the expenses and non-cash losses related to the convertible bond and warrants, Non-GAAP net income was $36.1 million, or $1.05 earnings per share, compared with $28.5 million and $0.94 earnings per share in 2008.

GAAP net loss was $16.7 million, compared with net income of $28.5 million in 2008.

Key 2009 Milestones

In March 2009, A-Power entered into a supply agreement and a joint venture partnership agreement with GE Drivetrain Technologies, a unit of GE Transportation to manufacture 2.7 megawatt (MW) wind turbine gearboxes.

In June 2009, Shenyang Municipal Government approved in principal to form Shenyang Power Group with A-Power as the lead investor. In addition, the Shenyang government will provide a total of RMB 100 million of subsidies. The Shenyang Power Group intends to expand and strengthen the distributed power generation system construction business of the Company because it will upgrade and strengthen the whole capacity of the Company to undertake more business.

In September 2009, the Company signed a definitive contract to acquire 100% of EVATECH Co., Ltd. ("EVATECH") of Kyoto, Japan, a 22-year-old designer and manufacturer of industrial equipment for LCDs (liquid crystal displays), PDPs (plasma display panels) and, more recently, amorphous-silicon (a-Si) photovoltaic (PV) panels.

In December 2009, A-Power and SPG signed agreements with Pakistan Amraas International Private Limited ("Amraas") on two separate DG projects in Pakistan. The first project entails the construction and operation of two 25 megawatt (MW) biomass power plants for Amraas. The total value of the contract is estimated to be $120 million (RMB 816 million). The second project concerns a geothermal project for the Pakistan Parliament Building (753,480 square feet) between SPG and Amraas International.

In December 2009, SPG established a Delaware Limited company ("Project Company") with United States Renewable Energy Group Wind Partners I, LLC ("USREG Wind"). The Project Company will own, design, develop, construct, manage and operate a wind energy power plant to be located in Texas with a total nameplate capacity of 600MW (the "Project"). The Company has been designated to supply turbines to the Project.

Recent Developments

In January 2010, A-Power signed a technology license agreement with German wind turbine design company, W2E Technologies GmbH ("W2E Technologies") to manufacture, operate, service and sell T8x 2.0 MW wind turbines. Under the license agreement, W2E Technologies granted A-Power an exclusive right to manufacture, operate, service and sell T8x 2.0 MW wind turbines in China and the United States starting in January 2010. In addition, A-Power has obtained non-exclusive rights to market T8x products outside of China and the United States.

In March, 2010, EVATECH signed a definitive contract with a Chinese leading renewable energy company to supply one set of photovoltaic solar machines. The contract covers the design, manufacturing and installation of the photovoltaic solar machine. The total value of the contract is $1.7 million. A down payment has been received with shipment expected by May 31, 2010.

Outlook for the Fiscal Year 2010

For fiscal year 2010, the management is expecting net sales to be approximately $380 million and net income to be approximately $45 million. These targets are based on the Company's current views on the operating and market conditions, which are subject to change.

Mr. Lu concluded, "As our DG solution continues to extend its growth track record and win customers in China and aboard, our wind business is picking up speed. While Chinese domestic customers remain interested in large wind turbines with proven records, our involvement in the Texas wind farm development paved the way for our foray into the much larger US wind energy market. We see an exciting 2010 ahead of us."

Conference Call

The Company will host a conference call, to be simultaneously webcast, on Wednesday, March 31, 2010, at 8:00 a.m. Eastern Daylight Time or 8:00 p.m. Beijing Time. Interested parties may participate in the conference call by dialing +1-800-322-2803 (North America) or +1-617-614-4925 (International), passcode: 11088184, approximately 10 minutes before the call start time. A live webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... .

A replay of the call will be available starting on approximately 11:00 a.m. EDT on March 31, or 11:00 p.m. Beijing Time through May 1, 2010. An archived webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... . Interested parties may access the replay by dialing +1-888-286-8010 (North America) or +1-617-801-6888 (International) and entering passcode: 20413998.

About A-Power

A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China- based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. 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. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including, but not limited to the following list of risks: the Project Company may not be able to secure adequate financing to develop or complete the Project, the Project Company may not be able to obtain necessary permits or approvals to design, construct, or operate the Project, the Company may not be able to produce or supply a sufficient number of wind turbines to the Project, there may be delays in designing and constructing the wind energy power plant; the Project may cost more to complete than is currently anticipated, there may be changes in regulations that make it difficult or impossible to finance, develop or operate the wind energy power plant, changes in the general political, financial, and economic circumstances (in the United States, China or elsewhere) and the availability and relative price of competing sources of energy (oil, coal, natural gas, solar energy) may have a material adverse impact on the Project, as well as other relevant risks regarding the Company that are detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F/A for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

Use of Non-GAAP Financial Measures

We have provided fourth quarter 2008 and 2009, as well as the fiscal year 2008 and the fiscal year 2009 net income and earnings (or loss) per share on a non-GAAP basis, which is the GAAP net income adjusted by adding back accretion expenses on convertible debt, loss on change in fair value of warrants, loss on change in fair value of embedded derivative related to convertible notes, make-whole amount paid on conversion, and fair value of inducement issued to convertible notes holders to convert. We believe both management and investors benefit from referring to these non-GAAP measures in assessing our business operation and financial performance. These non-GAAP operating measures are useful for understanding and assessing underlying business performance and operating trends.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Phone: +1-646-284-9403
     Email: dixon.chen@us.grayling.com


                                 - Tables Follow -


    Consolidated Balance Sheets
    (In Thousands of United States Dollars)

                                                          December 31,
                                                       2009            2008
    Assets
    Current assets
    Cash and cash equivalents                      $166,476          $44,518
    Restricted cash                                  13,399            2,608
    Accounts receivable, net of allowance
     for doubtful accounts of $Nil
     (2008 - $Nil) (note 5)                          12,463            7,238
    Prepayments, deposits, other receivables         52,452           79,845
    Costs and estimated earnings in excess
     of billings on uncompleted projects              2,967            2,094
    Inventory                                        10,327            8,723
    Due from related parties                            105            1,297
    Total current assets                            258,189          146,323

    Accounts receivable, net of allowance
     for doubtful accounts of $Nil
     (2008 - $Nil) (note 5)                           5,738            3,646
    Construction in progress                             --           18,006
    Property, plant and equipment, net
     accumulated depreciation                        58,617           14,312
    Intangible assets                                22,412           12,564
    Deposits on intangible assets                     5,657           10,322
    Deferred financing costs                                              --
    Deferred income tax asset                         2,321              364
    Long term investment                              2,423               --
    Total assets                                   $355,357         $205,537

    Liabilities and Stockholders' Equity
    Current liabilities
    Defer Income Tax Liability                           31               --
    Bank loans                                      $20,368              $--
    Accounts payable                                 15,415           12,909
    Other payables and accrued liabilities           24,619           17,227
    Customer deposits                                 9,993           13,350
    Billings in excess of costs and
     estimated earnings on
     uncompleted projects                             4,887            4,022
    Unearned Revenue                                  1,419               --
    Due to related parties                            4,158            1,320
    Income and business taxes payable                 4,078              742
    Total Current Liability                          84,968           49,570

    Warranty Liabilities                             17,750               --
    Total liabilities                               102,719           49,570

    Commitments and contingencies
    Stockholders' equity
    Common shares, 150,000,000 authorized
     with par value of $0.0001 per share,
     39,585,706 shares issued (2008 -
     50,000,000 authorized,
     33,706,938 shares issued)                            4                3
    Additional paid-in capital                      203,491          111,242
    Accumulated other comprehensive income            6,459            6,578
    Statutory reserves                                4,155            4,155
    Retained earnings                                (1,651)          33,331
    Noncontrolling interest                          40,180              658
    Total stockholders' equity                      252,638          155,309
    Total liabilities and stockholders'
     equity                                        $355,357         $205,537



    Consolidated Statements of Income
   (In Thousands of United States Dollars Except EPS)

                                             Years ended December 31,
                                       2009             2008          2007

    Revenues                         $311,252         $264,866      $152,544
    Cost of sales and business
     taxes                            260,167          227,990       131,987

    Gross profit                       51,085           36,876        20,557

    Expenses
    Selling, general and
     administrative expenses           12,844            8,700         3,482

    Income from operations             38,241           29,012        17,075

    Other expense (income)
    Interest costs                        369              153           969
    Finance costs                         272               --           913
    Other expense (income)               (437)            (966)         (250)

    Accretion Expenses on
     convertible notes                  2,280               --            --
    Fair value of warrants             11,596               --            --
    Change in fair value
     of embedded derivative -
     convertible notes                 25,611               --            --
    Make-whole amount paid
     on conversion                      9,886               --            --
    Fair value of inducement
     issued to convertible
     notes holders to convert           3,394               --            --

    Income before provision
     for income taxes                 (14,731)          28,989        15,443

    Provision for income taxes          1,792               71           190

    Net Income                        (16,523)          28,918        15,253

    Net income in subsidiaries
     attributable to non-
     controlling interest                (169)            (402)          (39)

    Net income attributable
     to A-Power Energy                (16,692)          28,516        15,214

    Earnings(loss) per share:
    Basic                              $(0.49)           $0.96         $1.17
    Diluted                            $(0.49)           $0.94         $1.17

    Weighted average number of
     shares outstanding:
    Basic                          34,199,100       29,824,158    13,000,000
    Diluted                        34,199,100       30,432,434    13,000,000



    Consolidated Statements of Cash Flows
    (In Thousands of United States Dollars)

                                           Years ended December 31,
                                   2009          2008                   2007
    Cash flows from operating
     activities:

    Net income                         $(16,523)       $28,918       $15,253

    Adjustments to
     reconcile net
     income to cash
     provided by (used
     in) operating
     activities:
    Stock-based
     compensation                         1,602            836            --
    Amortization                          1,628            385           187
    Accretion on
     promissory note                         --             --           192
    Issuance cost                            --             --           721
    Future income tax
     recovery                                --           (358)           --
    Payment to a
     supplier by a
     non-monetary item                       --             --            16
    Gains from
     disposition of PPE                     (42)            --            (5)
    Loss Recognized
     from GE Joint
     Venture                                 85
    Change in fair
     value of warrants                   11,596             --            --
    Change in fair
     value of embedded
     derivatives                         25,611             --            --
    Accretion Expenses
     on convertible
     debt                                 2,280             --            --
    Make-whole amount
     paid on conversion                   9,886             --            --
    Fair value of                            --             --            --
     inducement issued
     to convertible note
     holders to convert                   3,394             --            --

    Changes in operating
     assets and
     liabilities:

    Accounts receivable                  (7,387)        13,345       (16,295)
    Costs and estimated
     earnings in excess
     of billings on
     uncompleted
     contracts                             (873)        (2,056)          834
    Prepayments,
     deposits and other
     receivables                         28,612        (66,010)       18,623

    Inventory                            (1,608)        (8,565)           --
    Accounts payable
     and accrued
     liabilities                          5,740         (3,588)       11,815

    Customer deposits                    (3,347)        10,505        (7,110)
    Billings in excess
     of costs and
     estimated
     earnings on
     uncompleted
     contracts                              867          3,949            --
    Due to (from)
     related parties                         26             --            --
    Unearned Revenue                      1,418             --            --
    Income and business
     taxes payable                        1,410            320        (3,119)
    Net cash (used in)
     provided by
     operating
     activities                         $64,375       $(22,319)      $21,112

    Cash flows from
     investing
     activities:
    Increase in
     restricted bank
     balances                           (10,782)        (2,608)           --
    Proceeds from sale
     of property, plant
     and equipment                           92             --            --
    Purchase of
     property, plant
     and equipment                      (23,634)        (6,091)         (495)
    Payments of
     deposits on
     intangible assets                       (9)        (6,575)       (4,124)
    Purchase of
     intangible assets                   (1,302)        (3,750)           --
    Construction in
     progress                                --        (17,681)           --
    Loans to third
     parties                             (1,400)        (8,873)           --
    Cash received from                       --
     Chardan upon
     recapitalization                        --         31,748            --
    Liabilities assumed
     from A-Power                            --         (1,008)           --
    Long term
     investment                          (2,507)            --            --
    Net cash (used in)
     provided by
     investing
     activities                        $(39,542)      $(14,838)      $(4,619)



    Cash flows from financing
     activities:
    Proceeds from bank loans             20,354             --            --
    Proceeds from share capital,
     net of cost                        (35,453)        59,330         2,871
    Proceeds from notes payable,
     net of cost                         37,097             --        14,279
    Repayment of bank loans                  --         (1,008)           --

    Repayment of notes payable               --        (15,000)           --
    Repayments of related party
     notes                                   --             --        (7,301)
    Due to related parties                4,000            128           (12)
    Due to shareholder                       --             --           194
    Net cash provided by (used in)
     financing activities                96,904         43,450        10,031

    Effect of exchange rate change          221          2,393           791
    Net increase in cash and cash
     equivalents                        121,958          8,686        27,315

    Cash and cash equivalents,
     beginning of year                   44,518         35,832         8,517
    Cash and cash equivalents, end
     of year                           $166,476        $44,518       $35,832
    Supplemental disclosures of
     cash flow
    information:
    Interest paid                          $173         $1,035           $65
    Taxes paid                              632             --            60

SHENYANG, China, March 19 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq:APWR - News) ("A-Power" or "the Company"), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced the Company will report its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009, before the market opens on Wednesday, March 31, 2010.

The Company will host a conference call, to be simultaneously webcast, on Wednesday, March 31, 2010, at 8:00 a.m. Eastern Daylight Time or 8:00 p.m. Beijing Time. Interested parties may participate in the conference call by dialing +1-800-322-2803 (North America) or +1-617-614-4925 (International), passcode: 11088184, approximately 10 minutes before the call start time. A live webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... .

A replay of the call will be available starting on approximately 11:00 a.m. EDT on March 31, or 11:00 p.m. Beijing Time through May 1, 2010. An archived webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... . Interested parties may access the replay by dialing +1-888-286-8010 (North America) or +1-617-801-6888 (International) and entering passcode: 20413998.

About A-Power

A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China- based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. 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. For more information, please visit http://www.apowerenergy.... .

PV EXPO 2010 is a global exhibition and seminar specializing in the research and development of technologies as well as manufacturing of parts, materials and equipment used in photovoltaic cells and photovoltaic power generation system. PV EXPO 2010 attracts over 570 leading companies from 18 nations. The event will be held on March 3, 2010 at Tokyo International Exhibition Center.

EVATECH will be exhibiting its a-Si Single Type See-Through Thin-Film Photovoltaic line, a single type photovoltaic cell line that is suitable for building exterior mountings. EVATECH's booth number is PV43-40.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China- based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.... .

On December 16, 2009, SPG entered into a Limited Liability Company Agreement (the "LLC Agreement") with United States Renewable Energy Group Wind Partners I, LLC ("USREG Wind"). USREG Wind is indirectly jointly owned and controlled by US Renewable Energy Group and Cielo Wind Power, LP. ("Cielo"). Under the LLC Agreement, SPG and USREG Wind have established a Delaware limited liability company ("Project Company") for the purpose of owning, designing, developing, constructing, managing and operating a wind energy power plant to be located in Texas with a total nameplate capacity of 600MW (the "Project").

The Project is expected to cost in total approximately $1.5 billion, a portion of which is designated for wind turbine purchases. The parties will be seeking to obtain financing from third party lenders for most of the cost of the Project. No financing commitments have been received to date. A-Power, the parent company of SPG, has been designated to supply wind turbines to the Project in Texas, and an affiliate of Cielo will develop the project pursuant to the terms of a Development Services Agreement. In addition to the thousands of American jobs that are anticipated will be created throughout the project's 30-year life, a minimum of 70 percent of each turbine will be wholly manufactured in the United States.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.... .

About US-REG

The United States Renewable Energy Group is a U.S.-based private equity firm that mobilizes and facilitates the participation of international financing and investment in large-scale renewable energy projects within the United States. US-REG's mission is to integrate renewable and environmentally sound energy technologies into the American marketplace, while generating tremendous returns with a range of smart and strategic investments in clean energy. US-REG is devoted to strengthening America's energy independence, environmental quality, and economic vitality through investments in utility-scale projects in wind, hydro, geothermal, solar, and bioenergy. US-REG mobilizes and facilitates the participation of international financing and investment in renewable energy projects within the United States. By facilitating the expansion and development of business strategies through managing risks and complexities associated with foreign financing and investment, USREG provides American businesses with access to international investment options, fosters economic development of the U.S. renewable energy industries and generates new high paying jobs for Americans. To learn more about US-REG visit http://www.US-REG.com .

Cielo Wind Power, LP

Cielo Wind Power, LP is a privately held company that develops, constructs, owns and operates wind power facilities. Based in Austin, Texas, Cielo has developed over 1,150 MWs of wind power facilities and is currently developing wind energy projects in the US power markets of ERCOT, SPP and WECC. Wind RanchTM is a registered trademark licensed to Cielo and represents the ideals the company embraces in taking necessary steps to minimize the impact of wind projects on farming, ranching and natural uses of the land. To learn more about Cielo, visit http://www.cielowind.com .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including, but not limited to the following list of risks: the Project Company may not be able to secure adequate financing to develop or complete the Project, the Project Company may not be able to obtain necessary permits or approvals to design, construct, or operate the Project, the Company may not be able to produce or supply a sufficient number of wind turbines to the Project, there may be delays in designing and constructing the wind energy power plant; the Project may cost more to complete than is currently anticipated, there may be changes in regulations that make it difficult or impossible to finance, develop or operate the wind energy power plant, changes in the general political, financial, and economic circumstances (in the United States, China or elsewhere) and the availability and relative price of competing sources of energy (oil, coal, natural gas, solar energy) may have a material adverse impact on the Project, as well as other relevant risks regarding the Company that are detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F/A for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

 For more information, please contact:

 A-Power Energy Generation Systems
 John S. Lin
 Chief Operating Officer
 Email: john@apowerenergy.com

 Grayling
 Dixon Chen
 Investor Relations
 Tel: +1-646-284-9403
 Email: dixon.chen@grayling.com

This DG project with CMIC has commenced immediately with the construction duration of 12 months. The total contract has a value of approximately 40 million dollars with a down payment within 10 days from the contract date. No other details were disclosed.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.... .

About China Machine-Building International Corporation

Founded in 1980, China Machine-Building International Corporation (CMIC) is a multi-functional international corporation specialized in contracting international engineering projects, exporting complete plants and equipment, engaging in external economic and technical cooperation. With its high quality equipment, mature technology and established economic and technological cooperation with various countries in the world, CMIC has formed stable economic cooperation relationships with hundreds of enterprises all over the world. In 1981 CMIC successfully signed a contract of turnkey project for one unit of 210 MW for Guddu Thermal Power Station in Pakistan, which was the first large-scale thermal power generation equipment made in China and entered into the international market. CMIC has undertaken the project of sugar-cane production plant with daily crushing capacity of 8000 tons for Wangkanai Sugar Co. Ltd., Thailand. CMIC has also contracted and constructed such projects as heavy-duty machinery plant, hydro-power plant, electricity transmission line, water supply project, cement plant, floating glass plant, forging and pressing plant, pump works, agricultural machinery plant and the other plants for Pakistan, Peru, Sri Lanka, Romania, Angola, Vietnam, Laos, Myanmar, Indonesia, Algeria, Sudan, etc. CMIC has acquired manufacturing technology for 300 MW and 600 MW steam turbines and generators for fossil-fueled power generation plants from the Westing House U.S. In cooperation with Germany and Japan firms, CMIC has undertaken the joint design and co-production for 2050mm continuous hot strip rolling mills and 1900mm slab continuous casting plant for Baoshan Iron and Steel Complex, and the complete mechanical and electrical equipment for port handling used in the Qinghuangdao port project Phase II. And CMIC has contracted more than 1000 technology transfer projects for mechanical and electrical industries of China and imported various types of machinery and equipment worth billions of U. S. Dollars. CMIC is a subsidiary company of China National Machinery Industry Corporation.

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: we may not be able to complete the acquisition with our acquisition target; our acquisition target is undergoing restructuring in local courts, which may interfere with our ability to close the acquisition of the target company; our acquisition target's restructuring process in local courts relates to financial difficulties it experienced in the operation of its business, and it may continue to experience financial difficulties after we acquire it; we may not be able to obtain all of, or any of, the government subsidies related to the acquisition of the target company; our acquisition consideration is in the form of cash payment, which is a significant amount of our total cash balance available as of September 30, 2009, and this may affect our liquidity, and may result in our inability to provide working capital for our ongoing operations and expansion; our technicians may have difficulty adapting to new technology; systems that we develop and install may contain design or manufacturing defects, which could result in reduced demand for our services and customer claims and uninsured liabilities; we expect to rely increasingly on our proprietary products and systems and on technology developed by our licensors, and if we or our licensors become involved in an intellectual property dispute, we may be forced to spend a significant amount of time and financial resources to resolve such intellectual property dispute, diverting time and resources away from our business and operations as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F/A for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

On September 16, 2009, the Company signed a "full-responsibility" contract to develop a 49.5MW wind farm in the township of Saiwusu, Guba County, Inner Mongolia, for the Urat Rear Banner-based Jihe Orient Wind Energy Co., Ltd. The first 5 turbines were delivered today.

On October 14, 2009, the Company signed another contract to develop a 19.5MW wind farm in the Donggang, Rizhao City of Shandong Province. The first 5 turbines for this wind farm were also delivered today.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: we may not be able to complete the acquisition with our acquisition target; our acquisition target is undergoing restructuring in local courts, which may interfere with our ability to close the acquisition of the target company; our acquisition target's restructuring process in local courts relates to financial difficulties it experienced in the operation of its business, and it may continue to experience financial difficulties after we acquire it; we may not be able to obtain all of, or any of, the government subsidies related to the acquisition of the target company; our acquisition consideration is in the form of cash payment, which is a significant amount of our total cash balance available as of September 30, 2009, and this may affect our liquidity, and may result in our inability to provide working capital for our ongoing operations and expansion; our technicians may have difficulty adapting to new technology; systems that we develop and install may contain design or manufacturing defects, which could result in reduced demand for our services and customer claims and uninsured liabilities; we expect to rely increasingly on our proprietary products and systems and on technology developed by our licensors, and if we or our licensors become involved in an intellectual property dispute, we may be forced to spend a significant amount of time and financial resources to resolve such intellectual property dispute, diverting time and resources away from our business and operations as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F/A for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

The Company issued to institutional investors 5,777,932 Common Shares ("Shares") at a price of $14.37 per share. In addition, the Company issued to the investors warrants to purchase an aggregate of 2,888,966 Shares, 2,099,822 of the warrants are exercisable at $16.90 per Share and the remainder are exercisable at $16.91 per Share. The warrants will be initially exercisable six months after January 21, 2010 and will remain exercisable for a five-year period thereafter.

The Company has agreed to register for resale the Shares, the Warrants and the shares issuable upon the exercise of the Warrants with the Securities and Exchange Commission ("SEC").

The securities sold in this transaction have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from such registration requirements.

Further information concerning the terms of the offering, including copies of the forms of the relevant agreements, and certain additional information regarding recent developments relating to the Company, will be included in a Report on Form 6-K being filed contemporaneously with the SEC. The Report will be available on the SEC's website ( http://www.SEC.gov ).

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China- based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.....

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our amended annual report filed on Form 20-F/A for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

    John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

    Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

Under the license agreement, W2E Technologies granted A-Power an exclusive right to manufacture, operate, service and sell T8x 2.0 MW wind turbines in China and the United States starting in January 2010. In addition, A-Power has obtained non-exclusive rights to market T8x products outside of China and the United States. No other details of the agreement were disclosed.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China- based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. In addition to the establishment of strategic relationships with 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. For more information, please visit http://www.apowerenergy.... .

About W2E (Wind to Energy) Technologies

W2E Technologies was established in 2003 by six specialists in the wind energy industry. The company abstained from establishing its own production line and instead focused on the development and certification of wind turbines and bringing them to a stage ready for production. The turbines developed by W2E are manufactured and distributed by Fuhrlander AG. W2E Technologies is headquartered in Rostock, Germany with offices in the United States, which is in charge of the North American market. For additional information, please visit http://www.wind-to-energ... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

    John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

    Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

Pursuant to the Conversion Agreements, the Company and each of the noteholders have agreed, among other things, to convert the aggregate principal amount and accrued interest of $37,537,500 outstanding under the convertible notes, together with make-whole amounts, into an aggregate of 4,582,559 common shares of the Company using a conversion price per share set at $10.212, which is 96% of the original conversion price of the convertible notes of $10.637. Common shares of the Company issuable upon conversion of the Notes are freely tradable by the noteholders. Each of the noteholders has entered into a Confirmation Letter with the Company confirming certain procedural and other aspects of the transaction.

"We are pleased that the holders of these convertible notes have elected to convert their notes in full," stated Mr. Jinxiang Lu, A-Power's Chief Executive Officer. "As a result of this conversion of the convertible notes, the Company strengthens its balance sheet by replacing debt with equity."

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; various memorandum of understandings we signed with third parties may not evolve into definitive contracts and thus, we may not derive revenues from such agreements; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

This contract covers the design of the power station, the procurement and installation of the three main engines and other auxiliary equipment. In addition, A-Power will be the general contractor for the five main power station systems: the civic engineering system, the chemical water treatment system, the output system, the electrical system and the thermal control system.

The total value of the contract is US$ 86 million, which includes fees related to design and installation, and expenses related to procurement and sub-contracting with third-party vendors and construction companies. This biomass DG project has commenced in December and the estimated duration of the project is 27 months.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.... .

Safe Harbor Statement

This press release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and/or fiscal years; we may experience construction, manufacturing and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the fiscal year ended December 31, 2008. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this press release, except as required under applicable law.

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com

A-Power Energy Generation Systems Ltd. to Report Third Quarter 2009 Financial Results on Thursday, December 3, 2009

- Teleconference to Be Held on Thursday, December 3, 2009, at 8:00 a.m. EST -

SHENYANG, China, Nov. 27 /PRNewswire-Asia-FirstCall/ -- A-Power Energy Generation Systems, Ltd. (Nasdaq: APWR; "A-Power" or "the Company"), a leading provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, today announced the Company will report its unaudited financial results for the third quarter ended September 30, 2009, before the market opens on Thursday, December 3, 2009.

The Company will host a conference call, to be simultaneously webcast, on Thursday, December 3, 2009, at 8:00 a.m. Eastern Standard Time or 9:00 p.m. Beijing Time. Interested parties may participate in the conference call by dialing +1-866-202-3048 (North America) or +1-617-213-8843 (International), passcode: 20150963, approximately 10 minutes before the call start time. A live webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... .

A replay of the call will be available starting on Thursday, December 3, 2009, at 11:00 a.m. Eastern Standard Time or 12:00 a.m. Beijing Time through January 3, 2010. An archived webcast of the conference call will be available on the Company's Website at http://www.apowerenergy.... . Interested parties may access the replay by dialing +1-888-286-8010 (North America) or +1-617-801-6888 (International) and entering passcode 93289876.

About A-Power

A-Power Energy Generation Systems Ltd. ("A-Power"), through its China-based operating subsidiaries, is the largest provider of distributed power generation systems in China, focusing on energy-efficient and environmentally friendly projects of 25MW to 400MW. In 2008, A-Power entered the wind energy market and has built China's largest wind turbine manufacturing facility, located in Shenyang, Liaoning Province, with technologies licensed from German FUHRLANDER AG and Denmark-based Norwin, and a total annual production capacity of 1,125MW. In March 2009, A-Power entered into an agreement to establish a Joint Venture partnership with GE Drivetrain Technologies to produce wind turbine gearboxes in Shenyang. A-Power also has strategic relationships with Tsinghua University in Beijing and the China Academy of Sciences in Guangzhou to develop and commercialize other renewable energy technologies. For more information, please visit http://www.apowerenergy.... .

    For more information, please contact:

     John S. Lin
     Chief Operating Officer
     A-Power Energy Generation Systems
     Email: john@apowerenergy.com

     Dixon Chen
     Investor Relations
     Grayling
     Tel:   +1-646-284-9403
     Email: dixon.chen@us.grayling.com