Yingli Green Energy Holding Company Limited (NYSE: YGE – ), a vertically integrated photovoltaic (PV) product manufacturer, announced four new sales contracts with two leading German PV players.
The contracts include two with Conergy AG under which Yingli Green Energy will supply 7 megawatts (MW) of PV modules in 2008 and 50 MW of PV modules in 2009. The delivery price for the modules to be delivered in 2008 has been fixed and the delivery price for the modules to be delivered in 2009 will be determined around the fourth quarter of 2008.
The other two contracts are with GeckoLogic GmbH for the supply 4 MW of PV modules between September 2008 and December 2008 and 3 MW of PV modules between October 2008 and March 2009. The delivery price for the modules to be delivered in 2008 has been fixed and the delivery price for the modules to be delivered in 2009 will be determined around the third quarter of 2008.
"We have been developing our relationship with these two well-regarded companies for the past few years, and have won the trust from an increasing number of major industry players with our product quality and customer service," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "We look forward to further strengthening our relationship with them in the future. Demand in Germany remains strong and the region continues to be an area in which we plan to further strengthen our presence."
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 mid-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.
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