Yingli Green Energy Holding Company Limited has announced that it has entered into a polysilicon supply contract with Sailing New Energy Resources Co., Ltd. ("Sailing"), a rising player in the polysilicon industry located in Chongqing, China. Under the terms of the contract, Sailing will supply polysilicon to Yingli Green Energy from the fourth quarter of 2008 through the end of 2010.
The total amount of polysilicon to be supplied under this contract will allow Yingli Green Energy to produce a total of 160 MW to 200 MW of PV modules, subject to the production ramp-up schedule of Sailing and further negotiations between the two companies.
"We are delighted with the contract entered with Yingli Green Energy, a reputable player in the PV industry for its product quality and well-known brand name. This contract will further enhance Sailing's position as one of the major suppliers of high purity polysilicon in China's solar industry," Mr. Xiang Xu, CEO of Sailing, commented.
"We are very confident in Sailing's ability to produce high purity polysilicon with the proven refined Siemens method and their high quality production lines," commented Mr. Liansheng Miao, Chairman and CEO of Yingli Green Energy. "This contract will further increase our visibility on polysilicon supply from 2008 to 2010."
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 the limited numbers of large-scale PV companies in the world to have adopted vertical integration as its business model.
Yingli Green Energy currently plans to gradually 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, China and the United States.
