TORONTO, Oct. 6 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ('the Company', 'CSI' or 'we') (Nasdaq: CSIQ) today announced that it has signed two sales contracts with Iliotec Solar GmbH and Iliotec Solar International. Through these two contracts, Iliotec will purchase from CSI 28MW of solar modules and obtain the option for another 20MW for delivery in 2009, with module prices fixed for the first six months.
As one of the leading solar system installers in Germany, Iliotec Solar GmbH has been a reliable and continuous customer of CSI since 2005. Iliotec Solar International designs and implements solar projects around the world.
Chairman and CEO Shawn Qu remarked: 'These two contracts mark the seventh and eighth annual 2009 sales contracts we have signed with our long-term and loyal European customers in the past month. These contracts typically feature fixed prices for the first six months. The demand and pricing for Canadian Solar's products remains strong and our order building process for 2009 is well on track. Our customers have also indicated that financing remains available for solar projects in Europe and are moving ahead with their plans. With the renewal of the ITC and its application to utilities' companies in the U.S. we also expect to see strong demand for 2009 in the U.S. market. CSI is the only company in the world that offers both high-efficiency polysilicon modules and cost-effective UMG e-Modules. Combined with our strong and proven customer base, we have are well-positioned us for continuous growth in 2009.'
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 .
Tuesday, October 7, 2008
Yingli Green Energy and EN-NEO Enter into Supplementary Contract for Sales in 2009
BAODING, China, Oct 06, 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 supplementary contract ("New Contract") to the sales contract disclosed on June 5, 2008 ("Original Contract") with EN-NEO NEUE ENERGIEN GmbH ("EN-NEO"), one of the leading specialists in PV energy projects worldwide. Under the Original Contract, Yingli Green Energy agreed to supply 9.19 MW of PV modules to EN-NEO from October 2008 to December 2008, and EN-NEO had an option to purchase an additional 9 MW of PV modules from Yingli Green Energy in 2009. Under the New Contract, EN-NEO has agreed to exercise the option by purchasing the additional 9 MW PV modules, which are expected to be delivered from February 2009 to April 2009.
"We are pleased to announce this new contract with EN-NEO," said Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "We entered into two deals with EN-NEO within four months, which we believe demonstrates the confidence they have in our products and the desire both companies have to deepen the relationship. Although there are many challenges ahead, including potential effects of the recent turmoil in the financial markets, we believe German PV market is developing well, primarily because of the country's relatively long experience with the PV industry and a clear and short governmental approval process."
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. Through its wholly owned subsidiary Yingli Energy (China) Co., Ltd., 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.
"We are pleased to announce this new contract with EN-NEO," said Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "We entered into two deals with EN-NEO within four months, which we believe demonstrates the confidence they have in our products and the desire both companies have to deepen the relationship. Although there are many challenges ahead, including potential effects of the recent turmoil in the financial markets, we believe German PV market is developing well, primarily because of the country's relatively long experience with the PV industry and a clear and short governmental approval process."
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. Through its wholly owned subsidiary Yingli Energy (China) Co., Ltd., 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.
Saturday, October 4, 2008
Trina Solar Ranked Top 3 in TUV Energy Rating Tests
CHANGZHOU, China, Oct. 3 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (NYSE: TSL; ''Trina Solar'' or the ''Company''), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that its monocrystalline PV modules were ranked among the top three PV modules tested based on yield from TUV Energy Rating Comparison Measurementtests in 2008.
Test results from the Cologne-based TUV Rheinland Group's "Energy Yield 2008" project, released in September 2008, were conducted on a total of 14 international brands of PV modules from European, American and Asian manufacturers. The tests measured the specific energy yield as a percentage of maximum power output over a test period from April 1 to April 30, 2008.
"We are very pleased with our recent TUV test results, which validate our focus to improve manufacturing standards and process efficiencies to yield superior operating performance and stability," said Anthony Chia, Trina Solar's Vice President of Quality. "We look forward to working closely with TUV and other international testing organizations as we continue to enhance our technology research and development efforts for both new and existing products."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com
Test results from the Cologne-based TUV Rheinland Group's "Energy Yield 2008" project, released in September 2008, were conducted on a total of 14 international brands of PV modules from European, American and Asian manufacturers. The tests measured the specific energy yield as a percentage of maximum power output over a test period from April 1 to April 30, 2008.
"We are very pleased with our recent TUV test results, which validate our focus to improve manufacturing standards and process efficiencies to yield superior operating performance and stability," said Anthony Chia, Trina Solar's Vice President of Quality. "We look forward to working closely with TUV and other international testing organizations as we continue to enhance our technology research and development efforts for both new and existing products."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. Trina Solar's products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar's website at http://www.trinasolar.com
Yingli Green Energy Signs PV Module Sales Contracts with GeckoLogic and Sinosol
BAODING, China, Oct 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 it has entered into new PV module sales contracts with leading German PV players GeckoLogic GmbH ("GeckoLogic") and Sinosol AG ("Sinosol").
28 MW PV Module Sales Contract with GeckoLogic
Yingli Green Energy signed a 28 MW PV module sales contract with GeckoLogic, a global solar system design and engineering firm dedicated to the design and installation of high performance PV systems for homes, businesses, government facilities and large commercial buildings. Under the terms of the contract, Yingli Green Energy will supply 28 MW of PV modules to GeckoLogic from January 2009 to December 2009. In addition, GeckoLogic has an option to order an additional 7MW of PV modules from Yingli Green Energy in 2009. The PV modules to be delivered under this contract are expected to be installed in projects in Germany and other countries in Europe.
"During the past three years, we have gradually enhanced our market presence by delivering high performance, high quality PV systems," said Mr. Steve Gyoerffy, Chief Executive Officer of GeckoLogic. "We selected Yingli to be among our top-tier strategic suppliers because of their superior product quality and sustainable module performance, experienced operating team and first-rate customer service. As the largest contract we have signed to date, this contract represents another milestone for our company and for our relationship with Yingli Green Energy."
30 MW PV Module Sales Contract with Sinosol
Yingli Green Energy signed a 30 MW PV module sales contract with Sinosol, a global supplier of photovoltaic systems, and planner and developer of turnkey solar parks. Under the terms of the contract, Yingli Green Energy will supply 30 MW of PV modules to Sinosol. The specific delivery schedule is expected to be finalized in November 2008.
"We have been working with Yingli since 2005," commented Mr. Kay Lee, Chief Executive Officer of Sinosol. "In order to ensure the delivery of high quality performance PV systems, we visit Yingli Green Energy's manufacturing lines a few times each year to learn more about their efforts to enhance quality control procedures and implement new research and development achievements across their entire value chain. Their product quality has impressed us in our past contracts, and we are confident that this contract will play a critical role in the execution of our projects in 2009."
"We are delighted to announce these two new sales contracts with GeckoLogic and Sinosol," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Our initial collaboration with these two companies dates back to 2005. Over the years, we have solidified our relationship with both companies by successfully executing all of our prior contracts. To date, we have signed nearly 100 MW of fixed-price sales contracts for delivery to the German market in 2009. We believe this demonstrates the continued strength of the German market and our ability to sustain our relationships with long-term strategic customers."
28 MW PV Module Sales Contract with GeckoLogic
Yingli Green Energy signed a 28 MW PV module sales contract with GeckoLogic, a global solar system design and engineering firm dedicated to the design and installation of high performance PV systems for homes, businesses, government facilities and large commercial buildings. Under the terms of the contract, Yingli Green Energy will supply 28 MW of PV modules to GeckoLogic from January 2009 to December 2009. In addition, GeckoLogic has an option to order an additional 7MW of PV modules from Yingli Green Energy in 2009. The PV modules to be delivered under this contract are expected to be installed in projects in Germany and other countries in Europe.
"During the past three years, we have gradually enhanced our market presence by delivering high performance, high quality PV systems," said Mr. Steve Gyoerffy, Chief Executive Officer of GeckoLogic. "We selected Yingli to be among our top-tier strategic suppliers because of their superior product quality and sustainable module performance, experienced operating team and first-rate customer service. As the largest contract we have signed to date, this contract represents another milestone for our company and for our relationship with Yingli Green Energy."
30 MW PV Module Sales Contract with Sinosol
Yingli Green Energy signed a 30 MW PV module sales contract with Sinosol, a global supplier of photovoltaic systems, and planner and developer of turnkey solar parks. Under the terms of the contract, Yingli Green Energy will supply 30 MW of PV modules to Sinosol. The specific delivery schedule is expected to be finalized in November 2008.
"We have been working with Yingli since 2005," commented Mr. Kay Lee, Chief Executive Officer of Sinosol. "In order to ensure the delivery of high quality performance PV systems, we visit Yingli Green Energy's manufacturing lines a few times each year to learn more about their efforts to enhance quality control procedures and implement new research and development achievements across their entire value chain. Their product quality has impressed us in our past contracts, and we are confident that this contract will play a critical role in the execution of our projects in 2009."
"We are delighted to announce these two new sales contracts with GeckoLogic and Sinosol," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Our initial collaboration with these two companies dates back to 2005. Over the years, we have solidified our relationship with both companies by successfully executing all of our prior contracts. To date, we have signed nearly 100 MW of fixed-price sales contracts for delivery to the German market in 2009. We believe this demonstrates the continued strength of the German market and our ability to sustain our relationships with long-term strategic customers."
Canadian Solar Announces Completion of Ingot & Wafer Plant and Reiterates 2008 Guidance
TORONTO, Oct. 2 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company","CSI" or "we") (Nasdaq: CSIQ) today announced it has completed and commissioned the Phase I of its ingot and wafer plant on schedule, giving the Company an annualized ingot and wafer capacity of 60 MW. Phase II of the ingot plant is expected to be completed by year-end, ahead of the original schedule. This will bring the Company's ingot and wafer capacity to 150 - 200 MW.
In further developments, Canadian Solar's 250 MW Phase II cell plant will also be completed in October, with the next stage to begin immediately thereafter. As of October, CSI's current annualized capacity is 220 MW and is expected to reach the target of 400 MW by the end of December, also ahead of schedule.
Both new plants are fully financed and fully supplied with both wafer and feedstock for Q4. This will enable the Company to produce 45-50 MW of polysilicon cells and UMG e-Cells internally in Q4. This will be supplemented by solar cells supplied from our long-term solar cell suppliers at competitive prices. In light of these recent developments, the Company is reiterating its top-line revenue and gross margin guidance for 2008 of $850-$970 million and13%-15%, respectively.
For 2009 the Company believes that it has secured approximately 4,000 Metric tons of UMG, enabling it to produce between 250 and 300 MW of UMG e-cells and e-Module in 2009. We are reiterating our shipment and gross margin guidance for 2009 of 500 - 550 MW and 13 - 15%, respectively.
Chairman and CEO Shawn Qu commented: "Demand remains high for both of our regular high-efficiency modules and our proprietary e-Module products. ASP's are expected to remain stable for the balance of the year and the raw material prices have begun to ease. The increased internal production capacity in Q4 will contribute meaningfully to our gross margins and will help us to reach our revenue and margin targets in spite of volatility in the Euro. Our highly flexible vertical integration model is robust; and has allowed us to quickly adopt to the market dynamics. We expect to be able to continue to meet our objectives for 2009 and are cautiously optimistic that there is upside potential in our '09 estimates."
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 .
In further developments, Canadian Solar's 250 MW Phase II cell plant will also be completed in October, with the next stage to begin immediately thereafter. As of October, CSI's current annualized capacity is 220 MW and is expected to reach the target of 400 MW by the end of December, also ahead of schedule.
Both new plants are fully financed and fully supplied with both wafer and feedstock for Q4. This will enable the Company to produce 45-50 MW of polysilicon cells and UMG e-Cells internally in Q4. This will be supplemented by solar cells supplied from our long-term solar cell suppliers at competitive prices. In light of these recent developments, the Company is reiterating its top-line revenue and gross margin guidance for 2008 of $850-$970 million and13%-15%, respectively.
For 2009 the Company believes that it has secured approximately 4,000 Metric tons of UMG, enabling it to produce between 250 and 300 MW of UMG e-cells and e-Module in 2009. We are reiterating our shipment and gross margin guidance for 2009 of 500 - 550 MW and 13 - 15%, respectively.
Chairman and CEO Shawn Qu commented: "Demand remains high for both of our regular high-efficiency modules and our proprietary e-Module products. ASP's are expected to remain stable for the balance of the year and the raw material prices have begun to ease. The increased internal production capacity in Q4 will contribute meaningfully to our gross margins and will help us to reach our revenue and margin targets in spite of volatility in the Euro. Our highly flexible vertical integration model is robust; and has allowed us to quickly adopt to the market dynamics. We expect to be able to continue to meet our objectives for 2009 and are cautiously optimistic that there is upside potential in our '09 estimates."
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 .
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