Check on China: A-Power Energy Generation Systems

The price of crude oil futures once again pushed into record high territory on Tuesday, reaching $119.48 a barrel on the weaker U.S. dollar and supply concerns stemming from militant attacks on Nigerian pipelines, reports that Russia will cut oil output this year, and the possibility of a worker strike at a 200,000 barrel-a-day refinery in Scotland.

Rising energy costs have consumers, businesses and entire sectors from New York City to Beijing feeling the pinch. In China, a combination of high energy prices amid spiraling demand and increasing concern over the environmental fallout from its breakneck growth has focused attention on energy alternatives like never before.

In the wake of legislation passed in 2005 mandating that renewable energy resources account for 10% of China's energy consumption by the year 2020, investment and R&D in the country's wind, solar, biomass and biofuel industries has driven companies to step up development efforts to create viable alternatives to conventional carbon-heavy energy sources.

A relatively new player in China's alternative energy arena is A-Power Energy Generation Systems, Ltd. (Nasdaq:APWR). Formerly China Energy Technology Limited, A-Power is principally engaged in providing distributed power generation systems. The company is also focused on developing and commercializing other renewable energy technologies, including wind power, and works closely with researchers at China Sciences Academy in Guangzhou and Tsinghua University.

Lately, the company has been busy. In January 2008, A-Power acquired Head Dragon Holdings, Ltd., a Hong Kong company that owns a controlling interest . . .

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