Signs 36.8 MW PV Module Sales Contract with S.A.G. Solarstrom AG -- Expands Manufacturing Capacity to 400 MW -- Reaffirms Plan to Reach 600 MW of Manufacturing Capacity by Mid-2009
BAODING, China, Sep 26, 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 announces that the Company has signed a 36.8 MW PV module sales contract with S.A.G. Solarstrom AG ("S.A.G.") and that it has completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules.
36.8 MW Sales Contract with S.A.G.
Yingli Green Energy has entered into a sales contract with S.A.G. , one of the leading manufacturers, independent developers and system integrators in the solar power and solar investment market in Europe. Under the terms of the contract, Yingli Green Energy will supply 36.8 MW of PV modules to S.A.G. from December 2008 to December 2009.
"We initiated our relationship with Yingli Green Energy with a 5 MW contract in 2005, and we are happy to expand our cooperation with this larger agreement," stated Dr. Karl Kuhlmann, CEO of S.A.G.. "The majority of the PV modules to be delivered under this contract are expected to be installed in projects in Germany and other countries in Europe. Given our long history of cooperation, we have developed a solid relationship and mutual trust. Our utmost priority is the sound operating performance of our customers' systems, so we believe that it is essential to source PV products that guarantee system performance. Yingli's brand and high quality products match all of our needs."
"We are pleased to sign this major contract with S.A.G.," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "The shipment volume under this contract is larger than the total volume we shipped to S.A.G. over the past three years combined. We are pleased to see increasing demand from customers such as S.A.G, and we believe this is one of many positive signals coming out of Germany that indicate a continuation of a strong market in 2009."
Expands Manufacturing Capacity to 400 MW and Reaffirms Plan to Reach 600 MW of Manufacturing Capacity by Mid-2009
Yingli Green Energy successfully completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, PV cells and PV modules. The completion comes ahead of the previously announced target of the end of 2008.
"We are pleased to achieve another significant milestone in the history of our company's growth," said Mr. Liansheng Miao. "As a result of solid relationships with equipment suppliers and a concerted effort by our entire team, we are pleased to have reached 400MW of annual manufacturing capacity ahead of schedule. In addition, I am also delighted to confirm that our plan to construct an additional 200MW of annual manufacturing capacity is on track to be completed by mid-2009. Furthermore, we have now contracted substantially all of our estimated PV module output for the remainder of 2008 and have secured more than 90% of our estimated polysilicon requirements for 2008."
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 400 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 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, Belgium, France, China and the United States. For more information, please visit www.yinglisolar.com.
Sunday, September 28, 2008
China's polysilicon price to fall with capacity expansion
China's polysilicon price to fall with capacity expansion
Asia Pulse Pte Ltd (2008/9/25)
BEIJING, Sept 25 Asia Pulse - Price of polysilicon, a core material for photovoltaic industry, is expected to decline this year with the expanded production capacity to be released, according to Pingan Securities.
The price of polysilicon has kept on rising in recent year as the supply of polysilicon cannot meet the demand of the expanding solar cell industry. The price have been driven up from 10 to US$20/kg in 2002 to US$450/kg recently.
Polysilicon projects in China have mushroomed in various parts of China.
China plans to build polysilicon facilities with combined production capacity amounting to 88,000 tons, including 44,000-ton production capacity are now under construction.
Analysts from Greatwall Securities predicted that the output of polysilicon in China would arrive at 4,000 tons, 10,000 tons and 30,000 tons in 2008, 2009 and 2010, respectively.
The supply of polysilicon would increase since 2009, thus driving its price down.
According to prediction of Photon International, photovoltaic industry will maintain the increase rate of 30 per cent to 40 per cent in the next five years. The cost for this industry is expected to decline in line with its expansion.
Analysts with Pingan Securities held that polysilicon's price would decline to US$100/kg considering the profit limitation from the photovoltaic industry.
Asia Pulse Pte Ltd (2008/9/25)
BEIJING, Sept 25 Asia Pulse - Price of polysilicon, a core material for photovoltaic industry, is expected to decline this year with the expanded production capacity to be released, according to Pingan Securities.
The price of polysilicon has kept on rising in recent year as the supply of polysilicon cannot meet the demand of the expanding solar cell industry. The price have been driven up from 10 to US$20/kg in 2002 to US$450/kg recently.
Polysilicon projects in China have mushroomed in various parts of China.
China plans to build polysilicon facilities with combined production capacity amounting to 88,000 tons, including 44,000-ton production capacity are now under construction.
Analysts from Greatwall Securities predicted that the output of polysilicon in China would arrive at 4,000 tons, 10,000 tons and 30,000 tons in 2008, 2009 and 2010, respectively.
The supply of polysilicon would increase since 2009, thus driving its price down.
According to prediction of Photon International, photovoltaic industry will maintain the increase rate of 30 per cent to 40 per cent in the next five years. The cost for this industry is expected to decline in line with its expansion.
Analysts with Pingan Securities held that polysilicon's price would decline to US$100/kg considering the profit limitation from the photovoltaic industry.
ET Solar signs 1MW dual-axis tracking system contract with Premier Power
25 September 2008
Nanjing, China-based ET Solar Group Corp. has entered into a 1MW dual-axis tracking system contract with Premier Power Renewable Energy, Inc. The tracking systems, which were jointly developed by ET Solar Group and Meca Solar, each boast a peak power of more than 11kW and will be installed at a location close to San Francisco.
ET Solar will send 97 of the systems to Premier Power for completion of the project by the end of 2008. The annual power output is estimated at more than 2 million kWh, which, according to the company, is close to 40% higher than other fixed array installations in the same area. "We are very excited to have our first large-scale tracking system project installed in the San Francisco Bay Area," said Linhui Sui, Vice President and Chief Strategy Officer of ET Solar Group. "We are proud to have the opportunity to work with Premier Power, a quality and leading PV system integrator, on this milestone project. It is an official recognition of our product, service, and engineering capability."
By Síle Mc Mahon
Nanjing, China-based ET Solar Group Corp. has entered into a 1MW dual-axis tracking system contract with Premier Power Renewable Energy, Inc. The tracking systems, which were jointly developed by ET Solar Group and Meca Solar, each boast a peak power of more than 11kW and will be installed at a location close to San Francisco.
ET Solar will send 97 of the systems to Premier Power for completion of the project by the end of 2008. The annual power output is estimated at more than 2 million kWh, which, according to the company, is close to 40% higher than other fixed array installations in the same area. "We are very excited to have our first large-scale tracking system project installed in the San Francisco Bay Area," said Linhui Sui, Vice President and Chief Strategy Officer of ET Solar Group. "We are proud to have the opportunity to work with Premier Power, a quality and leading PV system integrator, on this milestone project. It is an official recognition of our product, service, and engineering capability."
By Síle Mc Mahon
China Solar & Clean Energy Solutions, Inc. Wins Bid on China's Largest Solar Water-Heating Housing Project
BEIJING, Sept. 25 /Xinhua-PRNewswire-FirstCall/ -- China Solar & Clean Solutions Energy, Inc. (OTC Bulletin Board: CSOL) ("CSOL"), a premier manufacturer and distributor of solar water heaters, renewable energy solutions, and space heating devices in the People's Republic of China, announced it has signed a contract to be the sole supplier of solar water-heating systems to the Overseas Chinese Village in Shenzhen City (the"Village"). The contract was awarded on July 1, 2008 to CSOL's subsidiary, Shenzhen Peng Sang Pu Solar Energy Company.
The Overseas Chinese Village is a residential community for overseas Chinese in Shenzhen. It spans over 125 acres and contains a total of 22 high-rise buildings. The Village is believed to be the largest residential project in China to rely completely on solar-heated water. CSOL will be supplying and installing its state-of-the-art solar water-heating systems throughout the residential area. The contract is valued at approximately $3.5 million.
"We are very pleased to have won this contract," commented Du Deli, the CEO of China Solar & Clean Solutions Energy, Inc. "Despite bids from numerous competitors, we won the contract due to our strong reputation among Chinese solar energy experts. Our experience in China's solar water-heating market, as well as our tireless efforts to develop solar energy technology and new products, has earned us the reputation of being China's highest quality producer of solar energy systems. We will continue to pursue similar projects and expect to win more bids in the future."
About China Solar & Clean Energy Solutions, Inc.
China Solar & Clean Energy Solutions, Inc. operates through its wholly owned subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar(Bazhou)"), Beijing Deli Solar Technology Development Co., Ltd. and its 51% ownership in Tianjin Huaneng Group, all located in the PRC. The Company manufactures and distributes hot water and space heating devices to customers in the PRC, in addition to waste heat recovery systems. For more information, please visit http://www.cn-sce.com .
The Overseas Chinese Village is a residential community for overseas Chinese in Shenzhen. It spans over 125 acres and contains a total of 22 high-rise buildings. The Village is believed to be the largest residential project in China to rely completely on solar-heated water. CSOL will be supplying and installing its state-of-the-art solar water-heating systems throughout the residential area. The contract is valued at approximately $3.5 million.
"We are very pleased to have won this contract," commented Du Deli, the CEO of China Solar & Clean Solutions Energy, Inc. "Despite bids from numerous competitors, we won the contract due to our strong reputation among Chinese solar energy experts. Our experience in China's solar water-heating market, as well as our tireless efforts to develop solar energy technology and new products, has earned us the reputation of being China's highest quality producer of solar energy systems. We will continue to pursue similar projects and expect to win more bids in the future."
About China Solar & Clean Energy Solutions, Inc.
China Solar & Clean Energy Solutions, Inc. operates through its wholly owned subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar(Bazhou)"), Beijing Deli Solar Technology Development Co., Ltd. and its 51% ownership in Tianjin Huaneng Group, all located in the PRC. The Company manufactures and distributes hot water and space heating devices to customers in the PRC, in addition to waste heat recovery systems. For more information, please visit http://www.cn-sce.com .
China Sunergy Enters into Sales Agreement with Wuxi Guofei Green Energy Source
Seven-Year Agreement Solidifies Long-term Sales Presence within China
NANJING, China, Sept. 25NANJING, China, Sept. 25 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a seven year sales agreement (the"Agreement") with Wuxi Guofei Green Energy Source Co., Ltd. ("Wuxi Guofei"), a leading Chinese solar energy company.
Under the Agreement, China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells each year, starting from 2009 through 2015, and China Sunergy will receive an advance payment after the signing of the Agreement.
"This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "The payment terms of the agreement also provides China Sunergy with additional capital for investment in the continued development of our highly efficient solar cells, helping to ensure our company remains an industry leader in the solar energy sector in the future."
About China Sunergy Co. Ltd
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. 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 .
NANJING, China, Sept. 25NANJING, China, Sept. 25 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a seven year sales agreement (the"Agreement") with Wuxi Guofei Green Energy Source Co., Ltd. ("Wuxi Guofei"), a leading Chinese solar energy company.
Under the Agreement, China Sunergy will supply Wuxi Guofei with 10 MW of monocrystalline cells each year, starting from 2009 through 2015, and China Sunergy will receive an advance payment after the signing of the Agreement.
"This represents a significant domestic sales agreement for China Sunergy and secures a long-term demand for our monocrystalline cells," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "The payment terms of the agreement also provides China Sunergy with additional capital for investment in the continued development of our highly efficient solar cells, helping to ensure our company remains an industry leader in the solar energy sector in the future."
About China Sunergy Co. Ltd
China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. 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 .
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