Yingli Green Energy (YGE) Inks 3YR, 220MW Solar Modules Contract With Solarstrom AG

Yingli Green Energy (YGE) is announcing a big order this morning with Germany’s Solarstrom AG (this was actually originally announced over a week ago by SAG).  Yingli will supply 220MW in solar modules to the big German solar developer over the next three years.  The two companies have been working together for more than five years and Yingli is a preferred supplier of SAG.  No word on the financials of the deal.

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“We are pleased to announce our extended partnership with S.A.G., which will further strengthen the already successful cooperation between us,” Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented. “This long-term contract reflects the trust and confidence that our customers have in Yingli Green Energy’s ability to meet their increasing requirements on a consistent basis. We recognize that strong support from our channel partners and loyal customers is a key success factor for our sustainable growth in this fast-growing and competitive industry.”

Shares of YGE are continuing to try to find a bottom following a 40% correction in just the past few months.  There is decent support down to the $9.80 level.  If shares can’t hold there and begin moving higher, look for a return to the 2010 lows around the 8.40 level.

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