BAODING, China--(BUSINESS WIRE)--Yingli Green Energy Holding Company Limited (NYSE: YGE), one of the leading vertically integrated photovoltaic (PV) product manufacturers in China, today announced that it has signed an agreement to sell 16.5 MW of photovoltaic ("PV") modules to Aplicaciones Técnicas de la Energía, S.L. ("ATERSA"). ATERSA and its parent company, the Elecnor S.A. ("Elecnor"), are leaders in producing and distributing PV modules and PV equipment as well as PV "Turn-Key Projects" in Spain.
The PV modules provided by Yingli in this agreement will be installed in the Argasol Project and the Alumbra Project, which are located in Ciudad Real and Badajoz, Spain, respectively. The quality and power output of the modules supplied to ATERSA will be tested by ATERSA's laboratories. This new agreement makes Yingli Green Energy one of ATERSA and Elecnor's major module suppliers in terms of module shipments.
"The new agreement with ATERSA marks another milestone in our development in the market of Spain, which is currently one of the fastest growing PV markets in the world," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "This new agreement strengthens our competitive position in Spain and helps us further solidify our market position in the European market."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited ("Yingli Green Energy") is one of the leading vertically integrated 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 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 China. Additionally, Yingli Green Energy is one of the limited number of large-scale PV companies in China 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 megawatts by 2010. 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 ATERSA
With nearly 30 years experience, ATERSA, a subsidiary of the ELECNOR, is a pioneering company within the photovoltaic solar power sector in Spain. ATERSA develops, manufactures and markets all the components and equipment needed for any electrical solar system. Its production center is located in Almussafes, Valencia, with sales offices in Madrid, Valencia and Cordoba.
About ELECNOR
With a fifty year history, ELECNOR continues to be one of the central players in major infrastructure projects that are undertaken in Spain, participating in most of the major infrastructures projects that are undertaken in Spain, reinforcing its traditional high profile abroad and consolidating its permanent diversification towards other business areas.
Friday, November 2, 2007
Suntech Announces First Phase Polysilicon Supply Agreement with Nitol Solar
November 01, 2007: 08:00 AM EST
SAN FRANCISCO, Calif., Nov. 1 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. , one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced a first phase agreement with Nitol Solar Ltd. to supply polysilicon to Suntech over a seven-year period beginning in 2009.
The agreement provides for the delivery of predetermined volumes of polysilicon each year at fixed prices for the initial term with a portion of supply in later years subject to reduction within a price band in the event that prevailing spot market prices at that time are reduced. The agreement also provides for an initial deposit to Nitol Solar upon signing and requires that Suntech make additional prepayments for products subject to Nitol Solar's successful achievement of certain facility development and production volume milestones and other conditions.
"We are very pleased to sign this agreement with Nitol Solar and expect that it will be the first phase of an expanding partnership with additional allocation as their production capacity grows. This structure fits well with our own plans to expand Suntech's production capacity on an annual basis," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Nitol Solar is one of the most advanced new entrants in the polysilicon field given its long standing chemical production expertise including large commercial scale production of key gases required for polysilicon production such as trichlorosilane and chlorine. We look forward to this long term relationship with Nitol Solar and expect them to become one of our key long term supply partners."
Dr. Shi continued, "This agreement also adds to our growing pipeline of silicon at prices well below today's spot market and will help us to advance towards our goal of driving the cost of solar to grid parity."
Nitol Solar operates a chemical factory in Irkutsk Region, Russia and has over 70 years experience in the chemical industry. Nitol Solar is in the process of building a plant with target production capacity of 3700 metric tons of polysilicon in 2009. Nitol Solar already produces commercial quantities of trichlorosilane gas, which is a key material used in the production of polysilicon.
Dmitry Kotenko, Chief Executive Officer of Nitol Solar said: "We are delighted to announce this agreement with Suntech, a leading global PV manufacturer. This agreement represents a significant portion of our production and firmly establishes Nitol Solar as a future supplier of high quality polysilicon in the global solar industry."
About Nitol
Nitol Solar is an international group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in Irkutsk Region, Russia. Nitol Solar's current and envisaged product groups encompass a number of steps in the photo- voltaic value chain from trichlorosilane gas through polycrystalline silicon to the finished mono and multicrystalline wafers utilized in solar cells.
Nitol Solar's aim is to become a global leader in the efficient production of polysilicon products for the fast-growing solar energy industry. Nitol's production facility, 'Usoliekhimprom', is located in Usolie-Sibirskoe, Irkutsk. It is compliant with international quality and safety standards and ranks among the most environmentally transparent facilities in Russia.
For more detailed information please visit Nitol Solar's website at http://www.nitolsolar.com .
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech's customers are located in various markets worldwide, including key markets throughout Europe, North America, Japan and China. For more information, please visit http://www.suntech-power.com .
SAN FRANCISCO, Calif., Nov. 1 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co., Ltd. , one of the world's leading manufacturers of photovoltaic (PV) cells and modules, today announced a first phase agreement with Nitol Solar Ltd. to supply polysilicon to Suntech over a seven-year period beginning in 2009.
The agreement provides for the delivery of predetermined volumes of polysilicon each year at fixed prices for the initial term with a portion of supply in later years subject to reduction within a price band in the event that prevailing spot market prices at that time are reduced. The agreement also provides for an initial deposit to Nitol Solar upon signing and requires that Suntech make additional prepayments for products subject to Nitol Solar's successful achievement of certain facility development and production volume milestones and other conditions.
"We are very pleased to sign this agreement with Nitol Solar and expect that it will be the first phase of an expanding partnership with additional allocation as their production capacity grows. This structure fits well with our own plans to expand Suntech's production capacity on an annual basis," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Nitol Solar is one of the most advanced new entrants in the polysilicon field given its long standing chemical production expertise including large commercial scale production of key gases required for polysilicon production such as trichlorosilane and chlorine. We look forward to this long term relationship with Nitol Solar and expect them to become one of our key long term supply partners."
Dr. Shi continued, "This agreement also adds to our growing pipeline of silicon at prices well below today's spot market and will help us to advance towards our goal of driving the cost of solar to grid parity."
Nitol Solar operates a chemical factory in Irkutsk Region, Russia and has over 70 years experience in the chemical industry. Nitol Solar is in the process of building a plant with target production capacity of 3700 metric tons of polysilicon in 2009. Nitol Solar already produces commercial quantities of trichlorosilane gas, which is a key material used in the production of polysilicon.
Dmitry Kotenko, Chief Executive Officer of Nitol Solar said: "We are delighted to announce this agreement with Suntech, a leading global PV manufacturer. This agreement represents a significant portion of our production and firmly establishes Nitol Solar as a future supplier of high quality polysilicon in the global solar industry."
About Nitol
Nitol Solar is an international group manufacturing key chemical components for the global Solar Energy industry from an established chemical chlorine and silicon gas facility in Irkutsk Region, Russia. Nitol Solar's current and envisaged product groups encompass a number of steps in the photo- voltaic value chain from trichlorosilane gas through polycrystalline silicon to the finished mono and multicrystalline wafers utilized in solar cells.
Nitol Solar's aim is to become a global leader in the efficient production of polysilicon products for the fast-growing solar energy industry. Nitol's production facility, 'Usoliekhimprom', is located in Usolie-Sibirskoe, Irkutsk. It is compliant with international quality and safety standards and ranks among the most environmentally transparent facilities in Russia.
For more detailed information please visit Nitol Solar's website at http://www.nitolsolar.com .
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the world as measured by both production output and capacity of solar cells and modules. Suntech provides solar solutions for a green future. Suntech designs, develops, manufactures, and markets a variety of high quality, cost effective and environmentally friendly PV cells and modules for electric power applications in the residential, commercial, industrial, and public utility sectors. Suntech's majority-owned subsidiary, MSK Corporation is one of the top-ranked companies in the building-integrated photovoltaics (BIPV) space. Suntech's customers are located in various markets worldwide, including key markets throughout Europe, North America, Japan and China. For more information, please visit http://www.suntech-power.com .
Trina Solar Casts Jumbo Multicrystalline Ingot
October 31, 2007: 11:27 AM EST
CHANGZHOU, China, Oct. 31 /Xinhua-PRNewswire-FirstCall/ Trina Solar Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules founded in 1997, announced today that Trina Solar became the first global solar PV module manufacturer to cast a multicrystalline ingot using GT Solar's advanced DSS 450 furnace. This was achieved in connection with the commercial launch of Trina Solar's new multicrystalline module line.
The "jumbo" ingot is the result of Trina Solar's contract with GT Solar Incorporated, which supplies Trina Solar with DSS 450 furnaces that grow multicrystalline ingots up to 450 kg. This is Trina Solar's third order from GT Solar, representing approximately 300 MW of ingot growing capacity.
Jifan Gao, Trina Solar's Chairman and CEO, said: "We are very proud to have achieved this important milestone, which represents a key step in our efforts to expand capacity while lowering production costs and reflects the successful cooperation between our two companies. We look forward to opportunities to work with GT Solar as we continue to expand our capacity and strengthen Trina Solar's position as one of the leading PV module suppliers in the world."
Tom Zarrella, GT Solar's CEO, said: "Trina Solar's order for our advanced DSS 450 furnace to support its aggressive expansion plan is a strong indication of GT Solar's continued expansion in the Asia market. We value this customer and appreciate its confidence in our product."
About Trina Solar
Trina Solar Limited , through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd, is a well-recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar's solar modules provide reliable and environmentally- friendly electric power for residential, commercial, industrial and other applications worldwide. Trina Solar successfully completed its initial public offering on the New York Stock Exchange in December 2006 and its ADSs are traded under the ticker symbol TSL. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
About GT Solar
GT Solar Incorporated, a wholly-owned subsidiary of GT Solar International, is one of the largest providers of 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 polysilicon from which solar wafers are made. For more information, go to http://www.gtsolar.com.
CHANGZHOU, China, Oct. 31 /Xinhua-PRNewswire-FirstCall/ Trina Solar Limited ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules founded in 1997, announced today that Trina Solar became the first global solar PV module manufacturer to cast a multicrystalline ingot using GT Solar's advanced DSS 450 furnace. This was achieved in connection with the commercial launch of Trina Solar's new multicrystalline module line.
The "jumbo" ingot is the result of Trina Solar's contract with GT Solar Incorporated, which supplies Trina Solar with DSS 450 furnaces that grow multicrystalline ingots up to 450 kg. This is Trina Solar's third order from GT Solar, representing approximately 300 MW of ingot growing capacity.
Jifan Gao, Trina Solar's Chairman and CEO, said: "We are very proud to have achieved this important milestone, which represents a key step in our efforts to expand capacity while lowering production costs and reflects the successful cooperation between our two companies. We look forward to opportunities to work with GT Solar as we continue to expand our capacity and strengthen Trina Solar's position as one of the leading PV module suppliers in the world."
Tom Zarrella, GT Solar's CEO, said: "Trina Solar's order for our advanced DSS 450 furnace to support its aggressive expansion plan is a strong indication of GT Solar's continued expansion in the Asia market. We value this customer and appreciate its confidence in our product."
About Trina Solar
Trina Solar Limited , through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd, is a well-recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar's solar modules provide reliable and environmentally- friendly electric power for residential, commercial, industrial and other applications worldwide. Trina Solar successfully completed its initial public offering on the New York Stock Exchange in December 2006 and its ADSs are traded under the ticker symbol TSL. For further information, please visit Trina Solar's website at http://www.trinasolar.com.
About GT Solar
GT Solar Incorporated, a wholly-owned subsidiary of GT Solar International, is one of the largest providers of 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 polysilicon from which solar wafers are made. For more information, go to http://www.gtsolar.com.
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