Tuesday, December 23, 2008

Yingli Green Energy subsidiary enters 8-yr. loan agreement with China Development Bank

12/23/2008 6:48 AM ET

(RTTNews) - Tuesday, Yingli Green Energy Holding Company Ltd. said its subsidiary Yingli Energy Co. Ltd., China, has entered into an eight-year loan agreement with China Development Bank, or CDB.

As per the loan agreement, CDB has agreed to provide to Yingli China an aggregate of US$70 million to support Yingli China's construction of photovoltaic cell manufacturing lines with 100 megawatt annual production capacity, subject to certain conditions.

CDB, a government policy bank solely owned by China's central government, provides mid to long term financing support for the development of key government projects and for construction in the infrastructure sector, basic industries, pillar industries and high-technology industry.

Further, the company announced that it has appointed Jingfeng Xiong as the new Vice President of Technology effective December 23, replacing Nabih Cherradi, who has quit to pursue other interests. Xiong joined the company in 2000, and has served in a variety of roles, including as the Manager for Wafer, Cell, and Module Workshops, respectively, Quality Manager, Technical Department Manager, System Application Department Manager, and Chief Engineer.

CCID Consulting: Review and Forecast on China's Solar Cell Industry

BEIJING, Dec.23 /PRNewswire-Asia/ -- CCID Consulting, China's leadingresearch, consulting and IT outsourcing service provider, and the firstChinese consulting firm listed in Hong Kong (Hong Kong Stock Exchange:HK08235), recently released its article on China's solar cell industry.

Affected by global financial crisis in 2008, the global economy is going through a difficult winter. China's solar cell industry has been enjoying a period of stable and rapid growth in recent years, which is likely to be slowed under the current economic environment. However, China's solar cell industry still attracts manufacturers' and investors' attention in 2008. The output of China's solar cell industry in 2008 is expected to break through 2000MW. Compared with 2007, China's solar cell industry maintains a rapid development pace.
Figure: China's Solar Cell Output, 2005-2008
Source: CCID Consulting, Dec.2008
CCID Consulting forecasts that in 2009, with demands for renewable, clean and security energies increasing, innovations in thin film techniques and falling costs, China's solar cell industry will undergo a restructure period in its industry chain. The new application of thin film solar cell and other power supply will appear.
Governmental Support Brings Opportunities to the Solar Cell Industry
The promulgation and implementation of China's Renewable Energy Law will allow the size of China's photovoltaic industry to expand in the next two years; China's solar cell industry will become gradually mature. Among the 4 trillion Yuan the nation promised to invest to boost economic growth, energy-saving, environmental protection and new energy industries will be playing important roles, that these investment will drive the rapid development of the solar cell industry.
Thin Film Technology Under Spotlight
Among amorphous silicon photovoltaic cell technologies, thin film solar cell technology is considered to be most suitable for large scale industrialization. In next two years, thin film technical progress and conversion rate's improvement will gradually highlight thin film solar cell's cost advantage. Restricted by silicon materials, major manufacturers have transferred to invest in thin film. In 2009, this trend will be more obvious. With major manufacturers' thin film technical successive investment and production, despite that thin film technology cannot completely replace crystalline silicon technology in the short term, based on its cost advantage, its market share will increase rapidly.
Industry Chain Faces Local Adjustment
Solar power generation (photovoltaic generation) industry chain includes upstream polysilicon production, midstream silicon cutting and solar cell production and downstream solar cell components production. More and more enterprises will focus on the midstream and downstream. Upstream manufacturers and VC will enlarge their investment in silicon cutting and solar cell production. Industrial integration trend will strengthen.
Demands in China's Domestic Market to Surge Next Year
In the short term, China's solar cell industry will still need to rely heavily on silicon raw materials and terminal market. More than 90% of polysilicon, main raw material of solar battery depends on import and more than 90% terminal products rely on export. Demands on domestic solar battery market are to be lifted.
Solar battery products will be more popular, getting along with environment protection and energy saving policies. Mobile solar battery will appear in the market due to energy saving, 3G, uniform mobile phone charging interface, and other policies.
About CCID Consulting
CCID Consulting Co., Ltd. (hereinafter known as CCID Consulting), the first Chinese consulting firm listed in the Growth Enterprise Market of the Stock Exchange (GEM) of Hong Kong (stock code: 8235.HK), is directly affiliated with China Center for Information Industry Development (hereinafter known as CCID Group). Headquartered in Beijing, CCID Consulting has so far set up branch offices in Shanghai, Guangzhou, Shenzhen, Wuhan and Chengdu, with over 300 professional consultants after many years of development. The company's business scope has covered over 200 large and medium-sized cities in China.
Based on major areas of competitiveness: industrial resources, information technology and data channels, CCID Consulting provides customers with public policy establishment, industry competitiveness upgrading, development strategy and planning, marketing strategy and research, HR management, IT programming and management. CCID Consulting's customers range from industrial users in electronics, telecommunications, energy, finance, automobile, to government departments at all levels and diversified industrial parks. CCID Consulting commits itself to becoming the No. 1 advisor for enterprise management, the No.1 consultancy for government decisions and the No. 1 brand for informatization consulting.

China Sunergy Signs Sales Agreement With Ajit Solar

NANJING, China, Dec. 23 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a one-year agreement with Ajit Solar Pvt Ltd ("Ajit Solar"), a privately-owned module manufacturer based in Jaipur, India.

Under the terms of the agreement, China Sunergy will supply and deliver a total volume of 12MW of multi-crystalline solar cells. It is expected that China Sunergy will deliver 5MW to Ajit Solar in the first half of the year, and the remaining 7MW in the latter half.

Commenting on the agreement, CEO of China Sunergy, Dr. Allen Wang, said:"Our partnership with Ajit Solar marks a significant step for China Sunergy as we venture into the growing Indian solar market. Despite the challenging market conditions, we continue to receive orders for our solar cells. We look forward to working closely with Ajit Solar and to further penetrating the Asian markets."

Located in Jaipur, India, Ajit Solar is a privately owned company of the Gehlot Group which manufactures world class photovoltaic modules.

About China Sunergy Co. Ltd.

China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.com .