AES has received a Letter of Intent from the Malaysian National Power Utility TNB for a multiple power system contract in Malaysia, valued with project options at approximately $ 0.75 million. Several smaller orders with a value of another $250,000 are expected in the next month.
AES is negotiating for new contracts with TNB and is confident of further projects with a value of approximately $1.5 million in the next 3 to 4 months.
AES also recently received a Chinese delegation comprising both industry and provincial government managers. The company involved has developed large wind turbines and wishes to implement wind / grid / diesel systems using AES technologies.
Based on an existing order of US$180,000 for a 60 kW system an MOU has been signed establishing a base for the next project development for a 350 kilowatt system in South Eastern China. This will have a value of approximately US$0.5 million for AES.
