Yingli Green Energy Holding Company Limited (NYSE: YGE), one of the world’s leading vertically integrated photovoltaic (PV) product manufacturers, today announced that it has signed two polysilicon supply agreements with DC Chemical Co., Ltd., a leading Korean chemicals producer.
Under the first agreement, DC Chemical will supply polysilicon with a value of approximately $27 million to Yingli Green Energy in 2008. Under the second agreement, DC Chemical will supply polysilicon with a total value of approximately $188 million to Yingli Green Energy from 2009 to 2013.
About Yingli Green Energy
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 200 MW 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 the world as measured by annual production capacity. Additionally, Yingli Green Energy is one of the limited numbers of large-scale PV companies in the world to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by the end of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States.
About DC Chemical
DC Chemical Co., Ltd (PINK:DCCYF) is a leading Korean chemicals producer, covering a wide range of chemicals in the areas of inorganic chemicals, coal and petrochemicals and fine chemicals, including hydrogen peroxide, soda ash, sodium carbonate peroxyhydrate, fumed silica, carbon black, pitch, TDI and PVA. With its nearly 50 years experience in chemical industry, DC Chemical has selected polysilicon business as the core business of next generation.
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