Yingli Green Energy (YGE) To Expand Manufacturing Capacity $YGE
Yingli Green Energy just announced that it will be expandingmanufacturing capacity at its Baoding headquarters. The project willinvolve building PANDA mono-crystalline silicon-based manufacturinglines capable of producing 300 MW per year of mono-crystalline ingotsand wafers, cells and modules. The PANDA production lines usetechnology developed through Project PANDA, Yingli Green Energy’scollaboration with Energy Research Centre of the Netherlands and AmtechSystems, Inc.
To finance the project, Yingli also announced that it has beengranted a project loan of RMB 1.5 billion and a working capital creditfacility of RMB 250 million by the the Bank of Communications Co., Ltd.
In a press release, Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy, commented on the expansion:
“Shared anticipation of global PV industry growth, the robust flowof orders and inquiries that we have already received in 2010 and ourglobal growth strategy are the main motivations for this strategiccapacity expansion plan. We believe this expansion will allow us tomeet the increasing demand for our bankable, cost-effective productsand further drive down costs through increased cell conversionefficiency and the larger scale of manufacturing. On the Project PANDApilot line, we have already successfully produced next-generation cellswith an average efficiency rate of 18% or higher. Looking ahead, weexpect to increase the average efficiency rate to at least 18.5% on thecommercial production lines by the end of this year. Combined with theexisting 600 MW production capacity in Baoding and the 100 MW capacityunder construction in Hainan Province, this new expansion project isexpected to bring our total production capacity to 1 GW by the end of2010. With this expansion in place, we will be better positioned thanever to solidify our leadership in the global PV market.”
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