Renewable Energy Asia: partners the local govt of Jiuquan, Gansu Province, to develop renewable energy facilities in the city. These include i) a wind farm of up to 1200 MW planned capacity in two phases over a 10-yr period,
ii) a 100MW photovoltaic power generation demonstration facility with solar cell component pdtn plant,
iii) hydropower and biomass power gen facilities with planned capacities of 500MW and 36MW respectively,…
iv) pdtn facilities to produce wheel hubs, nacelle casings, foundations, wind turbine towers and connecting flanges to cater for up to 2000 sets of wind turbines with capacities of 1.5MW to 5MW annually. Contracts in total appear sizeable though actual value not disclosed.
Stock trades at 16.3x fwd PE. Mainly covered by local house, which rate as Buy, with targets ranging $0.36-0.50.
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