Saturday, September 6, 2008

LDK Solar enters into 8-Yr contract with Sumitomo to supply multicrystalline solar wafers

9/5/2008 3:31 AM ET

(RTTNews) - Friday, LDK Solar Co. Ltd. said it signed an eight-year contract with Japan- based Sumitomo Corp. to supply multicrystalline solar wafers to a manufacturer of solar cells and modules in Japan.

As per the agreement, LDK Solar will deliver around 750 MW of multicrystalline silicon wafers to Sumitomo over an eight-year period, beginning in 2009 and extending through 2016. Sumitomo will make an advanced payment representing a portion of the contract value to LDK Solar.

Yingli Green Energy Announces 16 MW Sales Contract with Fire Energy, S.L. in Spain

BAODING, China, Sep 04, 2008 (BUSINESS WIRE) -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that it has entered into a sales contract with Fire Energy, S.L. ("Fire Energy"), a Spanish PV system integrator and PV devices distributor.

Under the terms of the contract, Yingli Green Energy is expected to supply a total of 16 MW of PV modules to Fire Energy from January 2009 to December 2009.

"We are pleased to announce the 16 MW sales contract with Fire Energy in Spain which is the second transaction between the two companies," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We believe that even with the lowered feed-in-tariffs in Spain, which we expect to take effect later this year, the return on investment in the Spanish PV market will remain highly attractive as Spain has one of the highest levels of annual sunshine radiation in Europe. We continue to see strong demand in the Spanish PV market for high quality PV products. We believe that this transaction with Fire Energy is a result of the positive outlook for the Spanish PV market, the favorable assessment of our product quality and the recognition of our brand reputation. We also believe that our accredited track records and the growing awareness of the reliability and efficiency of our PV modules will help us sustain our market position not only in Spain, but also the global community."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. 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 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 a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Yingli Green Energy currently plans to expand annual production capacity in each 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, South Korea, France, China and the United States. For more information, please visit www.yinglisolar.com.

LDK Solar signs $32M contract with GT Solar

Associated Press 09.04.08

NEW YORK - LDK Solar Co. said Thursday it has inked a $32 million contract with GT Solar International Inc. for polysilicon CVD reactors to install in its Xinyu City, China, facility.
The reactors are used to make polysilicon, a highly purified form of silicon used to make semiconductor wafers for microelectronics applications and solar wafers.

"As the demand for solar energy continues to grow, so does our need to increase and accelerate our manufacturing capacity," Xiaofeng Peng, LDK Solar's chairman and chief executive, said in a release. "With GT Solar's reactor and DSS furnace technologies and expertise, we feel confident that we will be able to meet our rising production goals."

China`s Suntech to invest US$300 mln in solar energy in Indonesia

Jakarta (ANTARA News/Asia Pulse) - Chinese energy company Suntech Power Holding Co. Ltd said it had set aside US$300 million for solar energy development in Indonesia.

The funds would be used to set up a number of marketing offices and assembly plants and to establish distribution networks, Suntech vice president Ting Lei told the newspaper Investor Daily.

Suntech hopes to bring to reality the plan through phases starting next year, using photovoltaic cell technology to convert solar energy into electric energy, Lei said. Solpower Group Pte Ltd, the distributor for Suntech products in this region, said Suntech would generate electricity in areas not yet covered by state-owned electricity company PLN.

Source:Business in Asia Today - Sept. 4, 2008

Canadian Solar and GCL Silicon Announce Supply Contracts

TORONTO, Sept. 3 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company","CSI" or "we") (Nasdaq: CSIQ) and GCL Silicon Technology Holdings Inc. ("GCLSilicon") today reported that on August 21, 2008 they signed new long-term supply agreements in which GCL will supply 510 MT of high-purity poly-silicon feedstock in 2008 and 2009 and approximately 1.8 GW of wafers to CSI from 2010 to 2015.

Dr. Shawn Qu, Chairman and CEO of CSI, commented, "GCL Silicon is among the fastest-growing poly-silicon companies and an emerging leader in poly-silicon manufacturing. We have witnessed their ability to ramp up their operations first-hand and we are very pleased to have GCL Silicon as astrategic supply partner. These two contracts help us to further secure our supply chain with strong suppliers at favorable long-term contract prices. The competitive pricing for these recently signed contracts demonstrates that our high growth and balanced supply strategy coupled with our strong supplier relationships are paying off with lower materials costs going forward. We expect this trend to continue with an improved supply environment in 2009 and beyond.

Mr. Hunter Jiang, CEO of GCL Silicon commented, "CSI is one of the world leaders in the solar cell and module producing space, with a strong reputation for superior quality and product innovation. We are very pleased to have become a poly-silicon and wafer supplier to CSI. We view CSI as an important strategic partner and look forward to developing a close relationship with them and are committed to expanding our poly-silicon and wafer production capacity to meet the growing demands of customers such as CSI."

About Canadian Solar Inc. (Nasdaq: CSIQ)

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving customers worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .

About GCL Silicon

GCL Silicon Technology Holdings Inc. (GCL Silicon) supplies poly-siliconand wafers to companies operating in the solar industry. The company currently operates a poly-silicon production facility in Xuzhou, JiangsuProvince in China.

LDK Solar Signs Wafer Supply Agreement with Solartech Energy Corp

XINYU CITY, China and SUNNYVALE, Calif., Sept 03, 2008 /PRNewswire-FirstCall via COMTEX/ -- LDK Solar Co., Ltd ("LDK Solar") , a leading manufacturer of solar wafers, announced today that it has signed a five-year contract to supply multicrystalline solar wafers to Taiwan-based Solartech Energy Corp. (Solartech).

Under terms of the agreement, LDK Solar will deliver approximately 550 MW of multicrystalline silicon wafers to Solartech over a five-year period, commencing in 2009 and extending through 2013. Solartech will make an advanced payment representing a portion of the contract value to LDK Solar.

"We are pleased to expand our long-standing relationship with Solartech with this additional contract," Xiaofeng Peng, Chairman and CEO of LDK Solar. "Having worked with Solartech since the company became one of our early customers; we look forward to continuing to support their expansion in the solar market."

"We are excited to strengthen our wafer supply pipeline with this additional agreement with LDK Solar," stated Charles C. Chang, President of Solartech. "LDK has been a valued partner to us as we have continued to expand our production capacity."

About LDK Solar

LDK Solar Co., Ltd. is a leading manufacturer of solar wafers, which are the principal raw material used to produce solar cells. LDK Solar sells wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, LDK Solar provides wafer processing services to solar cell and module manufacturers. LDK Solar's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. Its office in the United States is located in Sunnyvale, California.

About Solartech

Founded in June 2005, Solartech Energy Corp. (Solartech) was established on the premise of creating a sustainable business that also provided green energy to the world. Solartech currently has 200 employees and R&D experts in solar cell technologies who are involved in the business of research, development, and manufacturing of high efficiency solar cells. Solartech has been equipped with a fully automated production line which currently has an annual production capacity of 60 MW but will be expanded from 60 MW to 180 MW in 2008. Solartech plans to reach its capacity beyond 1GW per year by 2014. With enterprising and pioneering spirit, Solartech strives to provide clean power to the world by expanding its services that facilitate the growth and expansion of photovoltaic projects while ensuring high quality products and developing cutting-edge technologies.

LDK Solar Reaches 1GW Goal

LDK Solar recently announced reaching the milestone of 1.0 gigawatts (GW) annual production capacity at its solar wafer production facility.

"We are proud to reach this significant milestone and remain confident in our ability to expand to 1.2 GW wafer capacity by the end of 2008. This achievement demonstrates our continued commitment to becoming the largest and lowest cost wafer producer in the solar industry," Xiaofeng Peng, Founder, Chairman and CEO of LDK Solar, said.

LDK Solar's 1.0 GW production capacity is in line with the company's publicly announced plans to reach a target annualized wafer production capacity of up to 1.2 GW by the end of 2008, 2.2 GW by the end of 2009 and 3.2 GW by the end of 2010.

Yingli Green Energy Subsidiary Signs Five-Year US$50 Million Credit Facility Agreement with DEG and FMO

BAODING, China, Sep 02, 2008 (BUSINESS WIRE) -- Yingli Green Energy Holding Company Limited ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that Baoding Tianwei Yingli New Energy Resources Co., Ltd ("Tianwei Yingli"), the Company's principal operating subsidiary, has entered into a five-year credit facility agreement with DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH ("DEG") and the Netherlands Development Finance Company ("FMO").

Under the agreement, DEG and FMO have agreed to lend Tianwei Yingli up to an aggregate of US$50million to support Tianwei Yingli's capacity expansion, subject to certain conditions. The loans will be guaranteed by Yingli Green Energy and will carry an interest rate of LIBOR plus 3.0%, with outstanding principal payable in eight bi-annual installments from March 2010 to September 2013.

"Climate protection has been an important issue for DEG since the mid-1990s," said Mr. Winfried Polte, Chairman of the Board of Management of DEG. "We are proud to support Yingli Green Energy as a company distinguished by exceptional expertise and a proven track record in the solar energy industry. In addition, Yingli Green Energy's capacity expansion will create thousands of new jobs in China thereby contributing to economic growth in this rapidly developing economy."

"FMO is strongly committed to renewable energy projects," said Mr. Arthur Arnold, Chief Executive Officer of FMO. "Energy is central to economic and social development and essential to fighting poverty in emerging markets. Therefore we are pleased to contribute to the rapid growth of the solar energy market worldwide by financing Yingli Green Energy's expansion of production capacity in China."

"We are pleased to have been selected to receive financing from DEG and FMO, two well-known financial institutions that specialize in providing long term financing to support socially and environmentally friendly companies in developing countries," commented Mr. Zongwei Li, Chief Financial Officer of Yingli Green Energy. "The strong commitment of DEG and FMO to our growth strategy not only strengthens our ability to expand our vertically integrated manufacturing capacity, but also enhances our debt structure by enabling us to shift to longer term indebtedness.

"We believe this financing demonstrates DEG and FMO's confidence in our business strengths and leadership position, as well as recognizes our status as a good corporate citizen. As a leading green energy company, we not only focus on developing our own business to provide returns to our shareholders, but also aim to make lasting contributions to society and the environment through job creation, appropriate working conditions and valuable technical training, as well as adherence to internationally accepted environmental protection standards and research and development efforts to create innovative energy efficient manufacturing processes."

About DEG

DEG, a member of the KfW Bankengruppe (KfW Banking Group), finances investments in companies in developing and transition countries. As one of Europe's largest development finance institutions, it promotes private business structures that contribute to sustainable economic growth and improved living conditions.

About FMO

FMO is the international development bank of the Netherlands and one of the largest bilateral development banks worldwide with an investment portfolio of approximately 3.5 billion. FMO invests risk capital in companies and financial institutions in developing countries with the goal of creating flourishing enterprises that can serve as engines of sustainable growth in their home countries.

About Yingli Green Energy

Yingli Green Energy Holding Company Limited is one of the world's leading vertically integrated PV product manufacturers. 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 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 a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Yingli Green Energy currently plans to 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, South Korea, France, China and the United States. For more information, please visit www.yinglisolar.com.