Saturday, October 18, 2008

Yingli to supply China Mobile's PV needs

October 17, 2008

China's largest wireless carrier also expects to receive an additional estimated 2MWp of PV modules from Suntech.

Tianwei Yingli New Energy Resources, a subsidiary of Baoding, China's Yingli Green Energy (NYSE: YGE), won a bid today to supply photovoltaic modules to the largest mobile phone operator in China.

Tianwei Yingli is expected to deliver approximately 1.5 megawatts of PV modules to China Mobile Communications (HYSE: CHL) from November 2008 to October 2009.

Yingli Green Energy previously signed a contract to supply Germany's S.A.G. Solarstrom with 36.6 MW of PV solar modules.

And in May Yingli agreed to supply 17.35 MW of PV modules to Japan's Eiko Trading.

Considered one of the largest manufacturers of PV products in the world as measured by annual production capacity, Yingli Green Energy has said it will not increase its production capacity next year. The worldwide credit crunch is thought to have influenced the company's decision.
Yingli Green Energy currently has a manufacturing capacity of 600 MW.

The winning bid from Tianwei Yingli represents a third of China Mobile's total recent PV module procurement. Earlier this week Jiangsu-based PV manufacturer Suntech (NYSE: STP) announced it had won a bid for China Mobile's PV system integration and controller procurement project, offering an estimated 2 megawatt-peak output in solar cell modules.

Suntech was China Mobile's largest solar supplier in 2007, providing 1.4 MWp of solar modules to nine provinces. The company acquired California-based EI Solutions earlier this month as part of its plans to triple U.S. sales in 2009.

China Mobile is the largest wireless operator in the world, with more than 260 million subscribers. The company is controlled by China's Ministry of Information Industry.

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