Yingli Green Energy (YGE) To Expand Manufacturing Capacity

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09:17:42 am on March 8, 2010

Yingli Green Energy just announced that it will be expanding manufacturing capacity at its Baoding headquarters. The project will involve building PANDA mono-crystalline silicon-based manufacturing lines capable of producing 300 MW per year of mono-crystalline ingots and wafers, cells and modules. The PANDA production lines use technology developed through Project PANDA, Yingli Green Energy’s collaboration with Energy Research Centre of the Netherlands and Amtech Systems, Inc.

To finance the project, Yingli also announced that it has been granted a project loan of RMB 1.5 billion and a working capital credit facility of RMB 250 million by the the Bank of Communications Co., Ltd.

In a press release, Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented on the expansion:

“Shared anticipation of global PV industry growth, the robust flow of orders and inquiries that we have already received in 2010 and our global growth strategy are the main motivations for this strategic capacity expansion plan. We believe this expansion will allow us to meet the increasing demand for our bankable, cost-effective products and further drive down costs through increased cell conversion efficiency and the larger scale of manufacturing. On the Project PANDA pilot line, we have already successfully produced next-generation cells with an average efficiency rate of 18% or higher. Looking ahead, we expect to increase the average efficiency rate to at least 18.5% on the commercial production lines by the end of this year. Combined with the existing 600 MW production capacity in Baoding and the 100 MW capacity under construction in Hainan Province, this new expansion project is expected to bring our total production capacity to 1 GW by the end of 2010. With this expansion in place, we will be better positioned than ever to solidify our leadership in the global PV market.”

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