Yingli Green Energy (YGE) Is Major Beneficiary Of Golden Sun Program

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10:33:39 am on December 3, 2010

Yingli Green Energy (YGE) got a lift this morning on positive comments out of Wells Fargo and is also helped by news that it has been selected as a major solar module supplier for the Golden Sun Program which is the China governments plan to accelerate the use of solar energy in the country.  They recently announced a plan to expand the Golden Sun portfolio to 1GW within two years.  Last month 272MW in solar projects were announced under the program and Yingli is expected to supply 70% of the modules needed most of which will ship in the 2nd half of next year.

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“We are honored to become a major PV module supplier for the Golden Sun Program, which is a significant business milestone for our expansion in the Chinese solar market,” Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy commented. “I am happy to witness that the Chinese government has demonstrated its strong commitment to boost renewable energy utilization in its recently announced Five-Year Plan.”

Shares of YGE gapped up nearly 10% this morning before pulling back a bit off the highs.  This appears to be a compelling place to add shares.  I believe shares of many of the China solar names are compelling down here.  I picked up SOL a couple days ago and looking at other opportunities.  YGE is certainly one.

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