Saturday, May 31, 2008

ReneSola to sell 8.15M ADSs, holders to sell 850,000 ADSs

SAN FRANCISCO (Thomson Financial) - ReneSola Ltd. filed late Friday to offer 9 million American depositary shares.

The China-based solar wafer company said it is selling roughly 8.15 million ADSs, and shareholders are selling around 850,000 ADSs.

Each ADS represents two ordinary shares.

The selling shareholders have granted the underwriters an option to purchase up to 1.35 million ADSs to cover any over-allotments.

ReneSolsa expects to use $70 million from the proceeds to expand its solar wafer manufacturing facilities and purchase additional equipment for its wafer capacity expansion plan in 2008 and 2009; roughly $100 million to invest in polysilicon manufacturing production in 2008 and 2009; and the remaining amount for general corporate purposes.

The company will not receive any of the proceeds from the sale of ADSs by the selling shareholders.

Yingli Green Energy signs sales contract

Associated Press 05.30.08, 6:23 PM ET YGE

NEW YORK - China-based Yingli Green Energy Holding Co. Ltd., which makes photovoltaic products, said Friday it signed a sales contract with S.A.G. Solarstrom Vertriebsgesellschaft mbH, a solar power company.

Under the terms of the deal, Yingli said it will supply 5.75 MW of photovoltaic modules to S.A.G. from June to September.

The company said the modules are expected to be installed in S.A.G.'s projects in Italy.

Yingli said the agreement was the company's eighth contract with S.A.G.

Solar Thin Films Partners with China Singyes Holding

May 30, 2008

Solar Thin Films has signed a deal with China Singyes Holding to build out 100MW of module manufacturing capacity in China, the company said.

Solar Thin Films is a developer, manufacturer and marketer of manufacturing equipment for the production of "thin-film" amorphous silicon and CIGS photovoltaic modules. As per the deal, the company will supply equipment, technology and general engineering and design support, and retain certain rights outside of China to market and distribute building integrated photovoltaic (BIPV) products.

Solar Thin Films intends to install cost-effective thin-film photovoltaic manufacturing equipment through 2011. While equipment installation is expected to commence in the fourth quarter of 2008, the initial production and sale of BIPV products could begin in 2009.

Peter Lewis, chief executive officer of Solar Thin Films, said the proposed arrangement with China Singyes could be a significant step forward in their goal to become a leader in supplying cost-effective, thin film photovoltaic module manufacturing equipment.

Lewis added that combined with their recently announced $12.3 million order from Grupo Unisolar, to build a 5MW turn-key a-SI Module plant in Spain, it clearly shows the progress they are making. He finds this to be a terrific opportunity for them as China Singyes is one of the country's largest curtain wall engineering companies, with numerous projects inside and outside China, and a demonstrated commitment to expand an already existing presence in the solar field.

Solar Thin Films’ rights to market BIPV output from the new facility outside of China would also open new customer channels and markets for them within the construction industry.

Both the companies are currently minority shareholders and board members of CG Solar, a "thin-film" module manufacturing company located in Weihai, China, that utilizes equipment produced by Solar Thin Films.

Yingli Green Energy Signs Silicon Agreement with New Producer

Yingli Green Energy (NYSE: YGE) has signed a polysilicon supply contract with Sailing New Energy Resources Co., Ltd., located in Chongqing, China. Under the terms of the contract, Sailing will supply polysilicon to Yingli Green Energy from 4Q08 through the end of 2010.

The total amount of polysilicon to be supplied under this contract will allow Yingli Green Energy to produce a total of 160 megawatts (MW) to 200 MW of PV modules, subject to the production ramp-up schedule of Sailing and further negotiations between the two companies, according to a Yingli Green Energy release.

"We are very confident in Sailing's ability to produce high purity polysilicon with the proven refined Siemens method and their high quality production lines," commented Liansheng Miao, Chairman and CEO of Yingli Green Energy. "This contract will further increase our visibility on polysilicon supply from 2008 to 2010."

Earlier this week, Baoding Yingli Group Company Limited, which is owned by Miao and affiliated with Yingli Green Energy, announced it is considering a project to produce 3,000 metric tons of polysilicon annually.
Earlier this year, Yingli Green Energy cancelled plans to build its own polysilicon plant.

About Yingli Green Energy

Yingli Green Energy Holding Company Limited is a vertically integrated PV product manufacturer. 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.

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.