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AMERICAN-CHINESE FIRMS EXTEND SOLAR VENTURE

 CINCINNATI, Nov. 30 ~PRNewswire~ -- Alpha Solarco Inc. (NASDAQ: ASCO), announced today that it has received a second letter of credit from Qinhuangdao Electronics, Ltd., of the People's Republic of China to move their joint solar venture into its second phase.
 Alpha Solarco is a leading developer of high concentration photovoltaic solar power plants. The joint venture with the Chinese firm was capitalized in February, 1991 with $4 million, according to Alpha Solarco president Edward C. Schmidt, co-chairman of the companies' joint board.
 As part of phase two, Alpha received a second letter of credit from Qinhuangdao is valued at $1.3 million. The first letter of credit, transferred to Alpha Solarco in 1991, was for a value of $2.4 million.
 The new credit will be used to purchase solar energy production and testing equipment manufactured by Alpha, Schmidt said. He said shipments to China are expected to start immediately and continue through next March.
 "With the emphasis the new Clinton Administration is expected to put on environmental issues, we expect more government promotion of alternate energy sources such as solar power," Schmidt said. "That would not only reduce current dependency on foreign oil, lowering the balance-of-trade deficit, but it could create thousands of jobs in a newly burgeoning solar industry."
 Alpha Solarco, based in Cincinnati, has developed solar concentrator systems for utility scale applications. This form of alternate energy produces electricity directly from sunlight and in large systems, is capable of producing electricity at a cost competitive with coal, oil or nuclear power, Schmidt said.
 In recent years Alpha Solarco has focused its marketing program on overseas customers.
 Qinhuangdao Electronics, located about 200 miles east of Beijing, is a manufacturer of power tubes and transformers for the communications industry. With Alpha it has formed Qinhuangdao Alpha Solar Energy Power Co., Ltd.
 -0- 11~30~92
 ~CONTACT: Ed Schmidt, president of Alpha Solarco, 513-771-1690~
 (ASCO)


CO: Alpha Solarco, Inc.; Qinhuangdao ST: Ohio IN: OIL SU: JVN

BM -- CL001 -- 4041 11~30~92 09:48 EST
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Date:Nov 30, 1992
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