Yingli Green Energy Holding Company Limited (NYSE:YGE), one of the few vertically integrated photovoltaic (PV) product manufacturers in China, is increasing its silicon ingot furnace capacity with a $56 million investment.
Yingli has placed its fourth order with GT Solar Incorporated for its DSS furnaces that grow multi-crystalline ingots up to 450kg, and is expected to bring Yingli’s installed furnace capacity to approximately 600MW in 2009.
Yingli Green Energy President, LianSheng Miao, said, ” The contract will support us to ramp up our ingot capacity from current 200MW to 400MW by the end of 2008 and 600MW in 2009.”
Yingli also said it has signed three polysilicon contracts with a leading polysilicon manufacturer. According to the company the total amount of polysilicon to be supplied under the contracts will allow it to produce over 40 MW of PV modules over the life of the contracts.
The delivery schedule for the polysilicon under the contracts has not been finalized. Based on the discussions of the parties with respect to the contracts, Yingli says it currently expects the delivery of the polysilicon under the contracts to be completed by the end of the first quarter of 2008.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the leading vertically integrated photovoltaic (PV) product manufacturers in China. Through the Company’s principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis.
With 200MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China.
About GT Solar Incorporated
GT Solar Incorporated, a wholly owned subsidiary of GT Solar International, provides manufacturing equipment and turnkey manufacturing solutions across the photovoltaic supply chain. Based in Merrimack, NH (USA), the company’s products include equipment used to produce multi-crystalline solar wafers, cells and modules. GT Solar also manufactures polysilicon reactors which allow its customers to produce the polysilicon from which solar wafers are made. For more information, go to www.gtsolar.com.
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