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Market: OTCBB
Sector: Cleantech and Renewable Energy
EPIC: NFEC
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NF Energy
www.nfenergy.com

NF Energy Saving is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services for China’s electric power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries.

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NF Energy Saving expands GE alliance with 4 further projects worth US$10 mln/year

15th Dec 2009, 2:50 pm NF Energy Saving expands GE alliance with 4 further projects worth US$10 mln/year

NF Energy Saving Corporation (OTCBB: NFEC) said it has expanded its cooperation agreement with General Electric to include four energy saving Build Operate Transfer (BOT) projects which are together expected to generate revenue of in excess of US$10 million per year.
 
The latest deal is based on the strategic cooperation agreement signed in July 2009 with GE Enterprise Development (Shanghai) Co Ltd.

The four BOT projects comprise a blast-furnace gas power generation project for a large iron and steel group, a cow manure power generation project, a chicken manure power generation project and a pig manure power generation project.

GE will provide technology as well as supply power generation equipment to NF Energy. The total investment of the projects is approximately US$16.2 million. The construction period is expected to last six months and operation period will be between 8 and 20 years.

At the beginning of December, NF Energy Saving announced it won bidding on Phase I of the largest gas-fired power plant project in Shanghai. Products will be delivered in May 2010 and it expects to recognise revenue of US$540,000 in the second quarter of 2010.

The company, specialised in energy efficient flow control systems, said the total investment for the plant is estimated at US$800 million. It is planned to achieve 1,600 MegaWatts of electric output with four gas-steam combined cycle units.

A week prior to the Shanghai deal news, it delivered 147 sets of valves to the Western Water Plant phases of the Dahuofang water supply project, recognising revenue of US$640,000 in the fourth quarter 2009.

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