BAODING, China, Sep 24, 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 its principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., has been awarded the title "China Environmental Friendly Enterprise" by China's Ministry of Environmental Protection.
The award recognizes Chinese companies with outstanding achievements in discharge control, resource conservation, industrial waste recycling and disposal, environmental management system construction and environment friendly products manufacturing.
"We are honored to receive this title together with five other companies in 2008, which we believe is a recognition of our continued efforts to be a successful and socially responsible company," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "In addition to manufacturing products which provide clean energy, our efforts to develop more efficient and environmentally friendly manufacturing processes have provided us with both economic rewards and lowered environmental impact. On behalf of the Company, I wish to congratulate our technicians and other team members and thank them for their contributions to making Yingli Green Energy a socially and environmentally conscious manufacturer."
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 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. 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, Korea, France, China and the United States. For more information, please visit www.yinglisolar.com.
Thursday, September 25, 2008
ANU, Chinese scientists to make cheap solar energy
Posted Wed Sep 24, 2008 1:35pm AEST Updated Wed Sep 24, 2008 3:20pm AEST
Scientists from the Australian National University are working with Chinese researchers to make solar power technology more affordable for households.
The new solar panels are being developed by the ANU's Centre for Sustainable Energy Systems in conjunction with scientists from the Tianjin University in China.
ANU project leader Professor Andrew Blakers says the new roof-mounted solar power system will be much cheaper than existing technology.
"Traditionally these kinds of systems have been built with expensive, specialist concentrator cells," he said.
"We'll be modifying and upgrading commercially available non-concentrator solar cells which should result in major savings.
"We'll also be developing more efficient techniques to reduce the influence of moving shadows which have the potential to eat into the amount of energy being generated."
The ANU's Dr Igor Skryabin says their Chinese counterparts are eager to get started.
"Their team in China is willing to extend this collaboration and it will involve the exchange of students, lectures and a broad range of educational activities," he said.
"So there are many opportunity for us and our partners."
Scientists from the Australian National University are working with Chinese researchers to make solar power technology more affordable for households.
The new solar panels are being developed by the ANU's Centre for Sustainable Energy Systems in conjunction with scientists from the Tianjin University in China.
ANU project leader Professor Andrew Blakers says the new roof-mounted solar power system will be much cheaper than existing technology.
"Traditionally these kinds of systems have been built with expensive, specialist concentrator cells," he said.
"We'll be modifying and upgrading commercially available non-concentrator solar cells which should result in major savings.
"We'll also be developing more efficient techniques to reduce the influence of moving shadows which have the potential to eat into the amount of energy being generated."
The ANU's Dr Igor Skryabin says their Chinese counterparts are eager to get started.
"Their team in China is willing to extend this collaboration and it will involve the exchange of students, lectures and a broad range of educational activities," he said.
"So there are many opportunity for us and our partners."
Jetion eyes North America
By David Blackwell
Published: September 23 2008 03:00 Last updated: September 23 2008 03:00
The addition of two production lines following flotation on Aim in the summer of last year helped Jetion, which makes solar cells in China's Jiangsu province, lift first-half turnover from $38.6m to $100.7m (£55m).
The company, which exports more than 80 per cent of its output to Europe, hopes to start selling in North America next year.
Pre-tax profits for the six months to June 30 were $12.1m, up from $2.8m.
The shares - pitched at 151p for the IPO, which raised £30m - closed up 1p at 79p. The company said it was considering further expansion .David Blackwell
Published: September 23 2008 03:00 Last updated: September 23 2008 03:00
The addition of two production lines following flotation on Aim in the summer of last year helped Jetion, which makes solar cells in China's Jiangsu province, lift first-half turnover from $38.6m to $100.7m (£55m).
The company, which exports more than 80 per cent of its output to Europe, hopes to start selling in North America next year.
Pre-tax profits for the six months to June 30 were $12.1m, up from $2.8m.
The shares - pitched at 151p for the IPO, which raised £30m - closed up 1p at 79p. The company said it was considering further expansion .David Blackwell
Saturday, September 20, 2008
LDK Wants $200M More for Manufacturing
The Chinese solar-wafer company said it would offer additional American depositary share, after raising $400 million in convertible notes in April, to build its planned silicon plants and expand wafer production.
by: Jennifer Kho September 19, 2008
LDK Solar Co. Ltd. (NYSE: LDK) announced Friday it plans to sell $200.4 million in American depositary shares to raise more money for manufacturing.
The Xinyu City, China-based solar-wafer manufacturer said it would offer 4.8 million American depositary shares at $41.75 each. In filings with the U.S. Securities and Exchange Commission, the company didn't disclose how much it expects to net from the sale.
LDK said it plans to use approximately 60 percent of the net proceeds to build a silicon-manufacturing plant, approximately 30 percent to expand its wafer-production capacity and the final 10 percent for "general corporate activities."
The company is constructing two silicon factories – a 1,000-ton plant and a 15,000-ton plant – and in April already raised $400 million to build the plants and support a planned wafer-capacity expansion.
The company, which said it has grown its multicrystalline solar-wafer production capacity from 880 megawatts in June to 1 gigawatt in August, expects to reach an annual capacity of approximately 1.1 gigawatts by the end of the year and 2 gigawatts by the end of next year. LDK also plans to begin producing monocrystaline wafers, which convert sunlight into electricity more efficiently than multicrystalline wafers, in the fourth quarter of this year and to reach about 100 megawatts of annual capacity by the end of 2008 and 200 megawatts by the end of 2009.
At that time, Hakan Telenius, organizer of the LDK Investor Group, said he expected the money would be sufficient for the rest of 2008, and that the company "would only raise more if they were not able to deliver on 2009 numbers."
LDK, which was founded in 2005 and made an initial public offering last year, didn't respond to calls and emails asking why it needs more money to complete its plants or whether it expects a delay.
But in an SEC filing, the company said its estimated total cost to build the polysilicon plant (made up of two factories in the same location) is approximately $1.3 billion.
The company in April said it planned to spend $1.2 billion on its first two silicon plants, along with $600 million to expand its wafer production.
At the time, LDK said it would finance the bulk of the cost through its operations, including expected net profits of $200 million in 2008 and $400 million in 2009, as well as about $1 billion in expected customer deposits for long-term wafer contracts for this year and next year.
The company expected a shortfall of at least $200 million, which investors hoped would be more than satisfied by the $400 million it raised in April.
In July, LDK announced that it had completed the first phase of construction on its smaller silicon plant and was on track to begin production by October. But it still was awaiting more equipment to complete the plant, which it expected to happen at the end of the year.
It also planned to complete the first phase of its larger silicon plant by the end of this year.
In a research note in June, Piper Jaffray analyst Jesse Pichel wrote that he remains "cautious on LDK's ability to ramp its polysilicon plant on time," although he expected the company could achieve 16,000 metric tons of capacity in 2009.
According to an SEC filing Friday, LDK still expects to complete the equipment installation at its 1,000-ton plant and to have it operational by the end of the year.
At its 15,000-ton plant, the company plans to complete equipment installation for an annual capacity of 6,000 metric tons by the end of this year, but said it would not begin production at the plant until 2009. In spite of the installation, LDK only expects 5,000 metric tons of capacity to become operational in the first half of next year, said the filing.
"We do not expect to produce any significant quantities of polysilicon prior to 2009," according to the prospectus.
USB AG and Goldman Sachs LLC are underwriting the latest offering.
by: Jennifer Kho September 19, 2008
LDK Solar Co. Ltd. (NYSE: LDK) announced Friday it plans to sell $200.4 million in American depositary shares to raise more money for manufacturing.
The Xinyu City, China-based solar-wafer manufacturer said it would offer 4.8 million American depositary shares at $41.75 each. In filings with the U.S. Securities and Exchange Commission, the company didn't disclose how much it expects to net from the sale.
LDK said it plans to use approximately 60 percent of the net proceeds to build a silicon-manufacturing plant, approximately 30 percent to expand its wafer-production capacity and the final 10 percent for "general corporate activities."
The company is constructing two silicon factories – a 1,000-ton plant and a 15,000-ton plant – and in April already raised $400 million to build the plants and support a planned wafer-capacity expansion.
The company, which said it has grown its multicrystalline solar-wafer production capacity from 880 megawatts in June to 1 gigawatt in August, expects to reach an annual capacity of approximately 1.1 gigawatts by the end of the year and 2 gigawatts by the end of next year. LDK also plans to begin producing monocrystaline wafers, which convert sunlight into electricity more efficiently than multicrystalline wafers, in the fourth quarter of this year and to reach about 100 megawatts of annual capacity by the end of 2008 and 200 megawatts by the end of 2009.
At that time, Hakan Telenius, organizer of the LDK Investor Group, said he expected the money would be sufficient for the rest of 2008, and that the company "would only raise more if they were not able to deliver on 2009 numbers."
LDK, which was founded in 2005 and made an initial public offering last year, didn't respond to calls and emails asking why it needs more money to complete its plants or whether it expects a delay.
But in an SEC filing, the company said its estimated total cost to build the polysilicon plant (made up of two factories in the same location) is approximately $1.3 billion.
The company in April said it planned to spend $1.2 billion on its first two silicon plants, along with $600 million to expand its wafer production.
At the time, LDK said it would finance the bulk of the cost through its operations, including expected net profits of $200 million in 2008 and $400 million in 2009, as well as about $1 billion in expected customer deposits for long-term wafer contracts for this year and next year.
The company expected a shortfall of at least $200 million, which investors hoped would be more than satisfied by the $400 million it raised in April.
In July, LDK announced that it had completed the first phase of construction on its smaller silicon plant and was on track to begin production by October. But it still was awaiting more equipment to complete the plant, which it expected to happen at the end of the year.
It also planned to complete the first phase of its larger silicon plant by the end of this year.
In a research note in June, Piper Jaffray analyst Jesse Pichel wrote that he remains "cautious on LDK's ability to ramp its polysilicon plant on time," although he expected the company could achieve 16,000 metric tons of capacity in 2009.
According to an SEC filing Friday, LDK still expects to complete the equipment installation at its 1,000-ton plant and to have it operational by the end of the year.
At its 15,000-ton plant, the company plans to complete equipment installation for an annual capacity of 6,000 metric tons by the end of this year, but said it would not begin production at the plant until 2009. In spite of the installation, LDK only expects 5,000 metric tons of capacity to become operational in the first half of next year, said the filing.
"We do not expect to produce any significant quantities of polysilicon prior to 2009," according to the prospectus.
USB AG and Goldman Sachs LLC are underwriting the latest offering.
Trina Solar, Gestamp Asetym To Open Spanish PV Plant
September 19, 2008 (FinancialWire) -- Trina Solar Ltd. said it has inaugurated a 26 megawatt photovoltaic plant, consisting of an installation, which uses primarily PV modules manufactured by Trina Solar, in Fuente Alamo, Murcia, in the south-east of Spain. The project has been carried out by Spain-based Gestamp Asetym Solar SA, a provider of solar systems.
Under the deal, Trina Solar supplied twenty megawatts of mono and multicrystalline solar modules of the total 26 MW required for the project as part of the long-term arrangement between both companies. The PV plant consists of three phases, including Fuente Alamo I, of 8MW, Fuente Alamo II, of 8MW and Fuente Alamo III, of 10 MW. The phases are installed on a total of 62 square hectares of rural land.
The 26 MW PV system will produce 44,000 megawatt hours per year, which equals the electric consumption of 13,000 homes and will avoid 15,000 tons of CO2 emissions to the atmosphere.
Under the deal, Trina Solar supplied twenty megawatts of mono and multicrystalline solar modules of the total 26 MW required for the project as part of the long-term arrangement between both companies. The PV plant consists of three phases, including Fuente Alamo I, of 8MW, Fuente Alamo II, of 8MW and Fuente Alamo III, of 10 MW. The phases are installed on a total of 62 square hectares of rural land.
The 26 MW PV system will produce 44,000 megawatt hours per year, which equals the electric consumption of 13,000 homes and will avoid 15,000 tons of CO2 emissions to the atmosphere.
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