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Shweta must have zirconium gonads to pull that off.
(I miss skibare)
APWR just Bought GE - Good things Coming ? Just Hold!
Shweta Sharma made a deal and sold off some of A-powers wind project in Upton county, Texas. I am not sure is this is the one, it seems to be the north of the original one, but gives an idea as to what it should have looked like, had the whole thing materialized.
https://earth.google.com/web/@31.21331093,-102.2600604,954.45216623a,2231.44396007d,35y,3.73958616h,37.83910528t,359.93799887r?utm_source=earth7&utm_campaign=vine&hl=en
A-Powers wind farm project in Texas may have been partly sold to TriGlobal, LLC (https://www.linkedin.com/company/tri-global-energy-llc?trk=public_profile_experience-item_result-card_subtitle-click) if I understand the information on Shweta Sharma´s LinkedIn page correctly:
https://www.linkedin.com/in/shwetasharma3
Seems like she is hanging in there and doing something with the cadaver A-Power left behind. The money she is making goes back to China I guess... Would be nice if A-Power could rise from the ashes, so the stock got some value again. I have written them off, but they still sit in the brokerage account doing nothing...Anyways, it is nice to see that something is going on there that we helped pay for...
From Shweta´s LinkedIn page:
CEO
Spinning Star Energy LLC
Mar 2011 – Present9 years
Spinning Star Energy is developing a 615 MW wind power project and a 355 miles transmission project in Texas with a total investment of approximately $1.3 billion. SSE is a JV created by a US private equity firm US Renewables Energy Group LLC (US-REG) and Shenyang Power Group LTD (SPG), a chinese investment firm.
• Managed 100% of previous CEO’s duties and replaced his 20 member team, managed those responsibilities singlehandedly for 6 months before building a development team; renegotiated critical contracts to provide significant savings to the company; personally negotiated one of the best tax abatement agreements with the county officials; turned around a terminal issue with an O&G operator on SSE’s wind site in SSE’s favor; personally negotiated contracts, some with very difficult counterparties (regulated, government, land owners and private entities), in SSE’s favor
• Fully developed and sold 175MW wind project to the 4th largest wind developer in the country Tri Global Energy LLC. During this time generated significant interest and bids from Southern Company, Calpine and several other large IPPs in the country
• Developed a large contact base of IPPs, utilities and financial institutions via cold calling and reestablishing previous connections for marketing deal pipeline, originating investments, originating power sales, negotiating PPAs and other critical contracts
• Brought approximately $150 million financing from US and Chinese investor advance stages of closing (financing ultimately did not close)
• Significantly more involvement in legal, operations, engineering, design and onsite activities than usual for a CEO
Spinning Star Energy is developing a 615 MW wind power project and a 355 miles transmission project in Texas with a total investment of approximately $1.3 billion. SSE is a JV created by a US private equity firm US Renewables Energy Group LLC (US-REG) and Shenyang Power Group LTD (SPG), a chinese investment firm.
• Managed 100% of previous CEO’s duties and replaced his 20 member team, managed those responsibilities singlehandedly for 6 months before building a development team; renegotiated critical contracts to provide significant savings to the company; personally negotiated one of the best tax abatement agreements with the county officials; turned around a terminal issue with an O&G operator on SSE’s wind site in SSE’s favor; personally negotiated contracts, some with very difficult counterparties (regulated, government, land owners and private entities), in SSE’s favor
• Fully developed and sold 175MW wind project to the 4th largest wind developer in the country Tri Global Energy LLC. During this time generated significant interest and bids from Southern Company, Calpine and several other large IPPs in the country
• Developed a large contact base of IPPs, utilities and financial institutions via cold calling and reestablishing previous connections for marketing deal pipeline, originating investments, originating power sales, negotiating PPAs and other critical contracts
• Brought approximately $150 million financing from US and Chinese investor advance stages of closing (financing ultimately did not close)
• Significantly more involvement in legal, operations, engineering, design and onsite activities than usual for a CEO
Tri Global Energy, LLC
Project Manager/Consultant
Tri Global Energy, LLC
Feb 2019 – Present1 year 1 month
SSE fully developed and marketed sale of 175MW wind project in Upton County TX in 2018/2019. During this time bids were received from some of the largest IPPs in the US like Southern Power Company, Calpine etc. SSE accepted Tri Global Energy, LLC’s bid and executed a sale agreement in Feb 2019. As part of the sale agreement Ms. Sharma has been contracted to lead residual development and construction.
SSE fully developed and marketed sale of 175MW wind project in Upton County TX in 2018/2019. During this time bids were received from some of the largest IPPs in the US like Southern Power Company, Calpine etc. SSE accepted Tri Global Energy, LLC’s bid and executed a sale agreement in Feb 2019. As part of the sale agreement Ms. Sharma has been contracted to lead residual development and construction.
I don´t know if anyone follows this stock anymore, but here is some news...
The wind turbines in Houston have been inspected and found good to use. Inspection document pdf here:
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=16&ved=2ahUKEwiH5_jGp_DnAhVJ2qwKHbAYC0s4ChAWMAV6BAgBEAE&url=https%3A%2F%2Fwind-turbine.com%2Fdownload%2F98184%2Fw1205s058005repo304w2e0011eninspectionreportw2ew93houstonport.pdf&usg=AOvVaw2RfaElZEmez-_oXxJjL9Mq
Wind is still blowing. Distributed energy solutions are still distributing. Any day now and you'll be looking smarter than before. And probably a lot better off. What did Skibare used to call it? The nuke? or something like that? New Google Earth images are quite promising.
There seems to be a bit of life left in Spinning Star still, at least about a year ago...
https://law.justia.com/cases/texas/first-court-of-appeals/2018/01-17-00022-cv.html
Those wind mills belong to the shareholders of A-Power as far as I can see. Wonder if the Spinning Star project ever will come alive again in Texas. Somebody seems to still work on it. Or did in that court battle at least. What a saga...
13 bids on our wind generators...
https://www.salvex.com/listings/listing_detail.cfm?aucID=182979498
Will go for scrap value probably.
Don't give up on Sweta Sharma. I'm sure you know of him. Spinning Star site is still up.
I am still watching for the conclusion of this story. GE is not doing well, and I doubt any one wants to help them after the history of graves they left behind?
Well, it seems Mr Lu´s investment in Japanese solar panels has reemerged as an electrical, air conditioning, ventilation company. I wonder if A-Power still owns it...
https://www.evatech.co.jp/
These investors are in for a possible rip off. As a former employee of A-power I would not trust this guy.
https://globenewswire.com/news-release/2018/04/26/1488094/0/en/ChinaCache-Appoints-Guangsheng-Meng-as-Chief-Financial-Officer.html
"Prior to joining ChinaCache, Mr. Meng served as Chief Financial Officer at China Gerui Advance Materials Group Limited from October 2009 to September 2017. Throughout his career Mr. Meng has held senior leadership and Chief Financial Officer roles at various companies, including A-Power Energy Generation Systems Ltd., Terex (China) Ltd., Shell (China) Ltd. and Koch Materials (China) Company (a subsidiary of Koch Industries Inc.). Mr. Meng received his master’s degree in business administration with a concentration in finance from Georgetown University and is a Certified Public Accountant. Mr. Meng is bilingual in Mandarin Chinese and English. "
Mike, it was a scam. The biggest losers were the private investors despite the best efforts of a few to warn you. Fuhrlander paid a huge price and this long-standing family business went to the wall.
A-Power was a classic Chinese RTO scam. Mr Lu played it pretty well for a while. The BVI incorporation, the discounted share issue around 18 bucks, the phoney solar deal, the accounting of received cash before it had been received, the complex corporate structure, the lack of a single spinning turbine ANYWHERE, etc.
It was a long time ago. If you think it was all GE's fault then it seems you've learned nothing from it. It was a scam, you fell for it, even skibare worked it out eventually.
Best of luck aka mauveman (remember me?)
GE sure spent a lot off time and money going after this purported scam, if it was a scam!!!!
" matter of GE Transportation (Shenyang) Co., Ltd. v. A-Power Energy Generation Systems, Ltd. is confirmed, and judgment shall enter in favor of GE Transportation (Shenyang) Co., Ltd. against A-Power Energy Generation Systems, Ltd. in the amount of $476,700,190.49, comprising $359,997,368.50 in principal and $116,702,821.99 in accrued interest through September 10, 2015."
This does not sound like a scam, it sounds like the work of GE being GE, the guys that play hard ball, and back door firms.. and now it seems GE is the target of vultures....Its days are numbered!!!
This is not the first company I owned stock in that GE killed, or tried to killed. They seem to getting pay back this year, down almost 50%, 10's of billions of losses of market cap. What are the Odds that Wallstreet banksters at places like Goldman sucks and GE are the ones that screwed us?
Small chance, Dingo, but I have not given up completely. Lost way too much money.
The Spinning Star web site is back up again, it was down for a
while. Don't know what the purpose of that is...
The factory in China is still standing and there is some activity still, judging by satellite photos. If things starts moving again at a serious pace, I want some of my losses back.
Don't know if the wind mills in Houston harbor ever sold, the Google Earth data is a little old, but if they sold - who got the dollars? And why not us in that case?
So What you're saying is... There's still a chance :)
65k shares waiting and Ready !
Here is a nice pic of the A-Power wind mills that have been sitting in the Houston harbor for many years now. Google Earth has become pretty amazing....
https://ibb.co/cPRxaw
Hope the link works...
* * $APWR Video Chart 08-24-17 * *
Link to Video - click here to watch the technical chart video
Just a mention of A-Power about halfway down in this article about the history of US wind politics.
http://prospect.org/article/tilting-windmills
Updated google earth images are really proving it out. Long new set of bike racks appear to be on the left side of the assembly entrance.
Thanks, Dingo!
Maybe that will be the way I go too then.
Had my accountant write it all off this year..
Apparently there is a way. All I provided her was the SEC PR on Delisting of APWR. And my loss statement from Ameritrade.
Mr Lu is a sly fish. Somehow I think he is doing stuff in the dark still. The Shenyang Lucky Wind factory is still standing, and has been added to, according to Google satellite images. Some kind of activity is going on there it seems...
If it wasn't for the GE court order that blocks the company from doing anything, maybe they would be in business somehow. As for now, they seem to stay under the radar.
I would like to realize the loss in the stocks, but how do I dump them? Can't sell them...
The wind generators that A-power shipped to USA, and that have been sitting in Houston harbor since 2011 are for sale (maybe sold already?).
Shweta Sharma has posted a link to an ad on her LinkeIn page. The link to her post is:
https://www.linkedin.com/feed/update/urn:li:activity:6263787363260989440/
Her ad text:
Shweta Sharma CEO Spinning Star Energy LLC 2w
SALE - Wind Turbines Generators: (12) never used, never installed 2011 Wind to Energy GmbH (W2E) model W93 variable-pitch, variable-speed wind turbines are immediately available for sale. Each turbine has a rated power capacity of 2.05-MW, for a combined rated capacity of 24.6-MW, and design type class IEC 6100-1, Class 2A. The W2E team was formerly a part of Nordex.
These WTGs were PTC/ITC qualified in 2011 which could possibly still be qualified. Our investors/co-developers plan to use their own PTC qualified turbines.
The turbines for sale can be seen here:
https://www.hilcoind.com/sale/windturbines/item/136590_W2E_(Wind_to_Energy)_W93_Wind_Turbine
There are quite a few photos of the rusting equipment under the Asset Details tab...
Full sales text below:
Sale Details
(12) never used, never installed 2011 Wind to Energy GmbH (W2E) model W93 variable-pitch, variable-speed wind turbines are immediately available for sale. Each turbine has a rated power capacity of 2.05-MW, for a combined rated capacity of 24.6-MW, and design type class IEC 6100-1, Class 2A. The W2E team was formerly a part of Nordex - a large wind turbine technology provider and manufacturer. Assembly of the turbines was verified and certified by Bureau Veritas. Created in 1828, Bureau Veritas is a world leader in conformity assessment and certification services. 52,000 employees, 940 offices and 340 laboratories in 140 countries, 400,000 clients, 8 global businesses with leadership positions, 2011 revenue: €3.4 billion. Bureau Veritas is listed on the Euronext Paris stock exchange (Compartment A, code ISIN FR 0006174348, stock symbol: BVI).
W2E is an established wind turbine design house and technology provider. There are over [200] W93 wind turbines operating around the world with 96.7% availability factor (higher than average including Siemens, GE etc). Seven different suppliers provided the major components for the W2E turbines and assembly was performed by Shenyan, a subsidiary of A-Power.
All the major components of W93 have been manufactured by large, well established, experienced manufacturers:
Rotor Blades - Windnovation
Gearbox & Generator - Winergy
Main & Pitch Bearings - Rothe Erde
Brake & Yaw Brake - Svendborg
Converter – Converteam (Subsidiary of GE)
Pitch Gear & Yaw Drive - Bonfiglioli
Controller - Mita-Teknik
One tower has been manufactured for these turbines. Seller is motivated to include this tower as an added bonus at no cost to the buyer with the purchase of turbines however this will depend on number of turbines purchased by the buyer. Buyer will also be provided with technical support from W2E for design, manufacture, and construct of rest of the 11 towers. These wind turbine towers are needed before these wind turbines can be placed into commercial operation. W2E is also willing, interested and available to provide technical support for W93 as and when needed by the buyer. Buyer will be put directly in touch with relevant parties and any additional costs to acquire those services can be discussed directly with those entities/persons.
APWR Shares
Hi Guys,
Do you think APWR is completely dead or it will revive? I still have shares of this junk stock on my account. I am thinking of dumping it to realize the loss. What do you guys think?
Best
Yeah, you'd need zirconium gonads to be out of this stock overnight
Those were the days
Hope all's well with lmkwin and savoy, etc
aka mauveman
Isn't this month the 5 year anniversary of still waiting for the 2010 financial reports? I heard they might post next Tuesday although I've heard that same thing for the last 269 Tuesdays. Who else is starting to get a little bit suspicious about this company.
short interest is negligible at the moment, which is a negative for an extremely healthy bounce when the sidewinder hits. Expect a re-test of the bottom.
Shweta Sharma changed profile picture on LinkedIn. https://www.linkedin.com/in/shwetasharma3https://www.linkedin.com/in/shwetasharma3
Do you know of him? CEO of Spinning Star and more recently an advisor for
http://musclevizion.com/ Om Sharma gives the product great reviews.
Latest google map shows that the blades are moving.
The slow motion never ending trainwreck. sigh..
Never was a bowie fan . Just never got into it.
I said for years that LU deserved jail time. Cost me be kicked off message boards but I was right. I lost a lot of money from that crook and I got almost nothing. Banned from boards from idiot moderators.
Call Your accountant: It's Official...!
Kind Of.. We got 14 days until viking funeral!
http://www.law360.com/companies/a-power-energy-generation-systems/dockets
Order | Filed: June 22, 2016 | Entered: June 22, 2016
Ge Transportation Co. Ltd v. A-Power Energy Generation Systems, Ltd
Other Statutes: Arbitration | New York Southern
Memorandum & Opinion
OPINION & ORDER: For the foregoing reasons, it is hereby: ORDERED that the arbitration award issued on August 8, 2012 by the Hong Kong International Arbitration Center in the matter of GE Transportation (Shenyang) Co., Ltd. v. A-Power Energy Generation Systems, Ltd. is confirmed, and judgment shall enter in favor of GE Transportation (Shenyang) Co., Ltd. against A-Power Energy Generation Systems, Ltd. in the amount of $476,700,190.49, comprising $359,997,368.50 in principal and $116,702,821.99 in accrued interest through September 10, 2015. IT IS FURTHER ORDERED that, until judgment is paid in full, A-Power Energy Generation Systems, Ltd. is permanently restrained, enjoined and prohibited from directly or indirectly transferring, dissipating or otherwise disposing of or diminishing in value any of its assets wherever they are located, whether in its own name or not, and whether solely or jointly owned, or directly or indirectly controlled. This prohibition requires A-Power, inter alia, to exercise its control over any entities or persons owned or controlled by A-Power to ensure that they and/or their subsidiaries do not remove, encumber, dissipate, or otherwise dispose of or deal with or diminish in value any of their assets wherever they are located. IT IS FURTHER ORDERED that, within 14 days of this Opinion & Order, GET or its attorneys shall effect service of a copy of this Opinion & Order by serving the same upon A-Power, via email directed to Lu's last known personal and operative email address, shoulong@188.com, in accordance with this Court's Order Authorizing Alternative Service on A-Power Energy Generation Systems, Ltd. dated November 2, 2015, Dkt. 29; and shall thereafter forthwith file an affirmation of such service on the docket of this case. IT IS FURTHER ORDERED that, within 14 days of this Opinion & Order, GET shall file a letter informing the Court if there is any reason why, in light of the rulings above, this case should not be closed. (Signed by Judge Paul A. Engelmayer on 6/22/2016) (tn)
I just heard that they will be finished with the 2010 earnings report by next Tuesday. Then we can be relisted. Vegas baby.
I see. Thanks for the answer, Dingo! So in the future, should Mr. Lu show up somewhere, he will be asked to pay up. GE will have a hard time getting that money I guess. Can they take over the plant in Shenyang, as a payment I wonder? The Chinese probably won't let them do that. The plant is a state secret perhaps... :)
It means if Apwr defaults (Basically, Does not Appear and argue the case) the judgement automatically is awarded to GE.
Whether GE is in the right or not.. they win..
Anybody understand the latest development? What does "default" mean in this case?
----
A-Power Near Default As GE Affiliate Seeks To Collect $476M
By Pete Brush
Law360, New York (March 2, 2016, 5:17 PM ET) -- A Chinese affiliate of General Electric Co. appeared poised Tuesday to win a default judgment in New York federal court against A-Power Energy Generation Systems Ltd. in its effort to collect on a 2012 arbitration award now worth $476 million lodged in Hong Kong against the Shenyang-based company and CEO Jinxiang Lu.
U.S. District Judge Paul A. Engelmayer suggested in Manhattan court he soon would order a default judgment against A-Power and its related entities as GE Transportation (Shenyang) Co. Ltd. seeks to collect on the $360 million award and ballooning interest. The outstanding balance led to a $476 million asset freeze last year.
A federal court judgment could help GE Transportation chase down the money it is owed under the nonappealable foreign award. Judge Engelmayer noted that only $9,000 was captured in the asset freeze.
The litigation comes after GE Transportation sought to enforce a 2009 agreement with A-Power subsidiary Lucky Wind to buy turbine gearboxes at fixed prices over a three-year period.
GE Transportation hit A-Power with notice of arbitration in Hong Kong in 2011, and the Hong Kong International Arbitration Centre Tribunal issued its $360 million award in August 2012. A-Power failed to pay and Lu was later found guilty of contempt, GE Transportation says.
GE Transportation is issuing subpoenas in its effort to track down additional A-Power asserts, its counsel Joseph L. Clasen of Robinson & Cole LLP told Judge Engelmayer.
A-Power has been a no-show in court.
Separately, Judge Engelmayer said he was likely to hold off on issuing a default judgment against a respondent called Asia New Energy Group Ltd. GE Transportation says Lu controls that company, but the judge appeared concerned about whether Asia New Energy had properly been served.
Judge Engelmayer issued an asset freeze against Asia New Energy last year as well in the amount of 54 million Japanese yen. As of Tuesday that was roughly $500,000.
GE Transportation is represented by Joseph L. Clasen and Gregory J. Bennici of Robinson & Cole LLP.
The case is GE Transportation v. A-Power, case number 1:15-cv-06194, in the U.S. District Court for the Southern District of New York.
--Editing by Brian Baresch.
Whatever you guys decide let me know. I still have shares in my Etrade account.
I did the same! Just sent 3 minutes ago. I lost hundreds of thousands here, have been booted of this thread many times posting negativity. Glad reality has sunk in here with you guys. I stated LU should be in jail with a life sentence or put to death, whatever the law is in china for fraud, corruption and stealing. Thanks for the info.
The other developments in Texas seem legit. The name A-Power is probably dead though. Maybe the business will reemerge as Shenyang Lucky Wind or something...
Seems About Right on the Website..
Still doesn't answer the other things going on..
E-mail conversation with Benjamin, the self proclaimed employee of A-Power. He is just a web designer marketing himself in a pretty weird way.
My first e-mail to him:
Hi Benjamin!
I have seen the press release for A-power:
http://www.digitaljournal.com/pr/2761592
The company has been totally silent for years - no info, no web site updates, no nothing - so I am thrilled to see the company shows signs of life again. I wonder what your position is and what you have to say about the state of the company. According to the press release it is now said to be a business in Woolmere Green, United Kingdom. Can you specify what kind of activities are taking place there? Any kind of info much appreciated!
His reply:
Thank you for your email. I actually don't have any information
about the company A-power Energy. The domain http://www.apowerenergy.com/ was up for sale and I bought it. I don't have any association with the company at all. Since their domain was up for sale I don't think they are active.
Best Regards
Benjamin
Me again:
Hi Benjamin,
Thank you very much for your reply!
I much say I am very puzzled by your comments. The reason I found
the web site in the first place, is the press release. According to the text you are a representative of A-Power, you reside at an address in Britain, and have a whole bunch to say about the company. Doesn't make any sense. Have you done all this just to sell back the domain name to the company, or to become their web designer, or what??? I am fine with whatever reason you give, I just want to know the truth. Would appreciate your comment.
And have a Good Christmas, we are almost there.
His reply:
I understand that it's a bit confusing. Without going into too much details, this whole setup with the domain, press release etc is a online marketing strategy that I use for my own business so it actually has nothing do to with A-power.
I have no contact or any information about A-power at all. I just
purchased the domain and published a made up press release about it basically. To my knowledge A-power is not operating anymore.
I hope that makes sense.
Best Regards
Benjamin
My final response:
Benjamin,
thank you for clearing that up!
Good luck with you marketing! If somebody from A-power should contact you, would you please let me know! I am very interested in the goings on in this company as I have lost quite a bit of money thanks to fraud on their part.
Greetings, and have a good the rest of the year!
Nope, nothing new.
Well Hey folks. Just happened to check the 'ole website. (almost forgot my password.) Just read through the postings, and I have to say the fact that this saga is still going on is @#@#%^% unreal.
Oh, well. It was nice reading through the posts. Will try to check in a little more often. out. Oh, maybe I'll search Simon & Edward, and the SEC for any mention of APWR.
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SHARES OUTSTANDING 46.36 Million | 2016 News & Updates | SPINNING STAR ENERGY 'SMART WIND RANCH PROJECT' |
SOLAR DIVISON DPG DIVSION WIND DIVISION PROJECTS |
MAIN : http://www.apowerenergy.com/ (Website Was Renewed on Jan 8th, 2014 ) | Rating |
SSE : http://www.spinningstarenergy.com/ | Rating |
SOLAR : http://www.evatech.co.jp | Rating |
GAOKE : http://www.lngkny.org | Rating |
LUCKY WIND : http://apowerwind.com/ | Rating |
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