Yingli Green Energy signs supply agreement for solar modules with Recurrent Energy

on 10 June 2009. Posted in Business

Under the agreement, Yingli will be supplying Recurrent
Energy with crystalline photovoltaic (PV) modules. Images courtesy of Yingli Green Energy Holding Co. Ltd. And Recurrent Energy

China’s Yingli Green Energy Holding Co. Ltd. announced on June 9 that it has signed an agreement to supply San Francisco-based solar developer Recurrent Energy with crystalline PV modules through 2012.

Under the agreement, Yingli will be supplying Recurrent Energy with crystalline photovoltaic (PV) modules for its distributed solar projects, which usually range from two to 20 megawatts (MW). Recurrent Energy has solar projects in the US, Canada, Europe, and other emerging markets. This March, Recurrent Energy acquired the project pipeline of UPC Solar, which totals 350 MW of projects throughout the continental US, Canada, and Hawaii.

Recurrent Energy also announced last month a contract for a 5-MW installation in its home city of San Francisco. It is targeting 100 MW of operational assets by 2012.

Measured by its 400-MW annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is one of the largest manufacturers of PV products in the world. Through its operating subsidiary Baoding Tianwei Yingli New Energy Resources Co. Ltd., it designs, assembles, sells, and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. The company has plans to expand annual production capacity to 600 MW in each of polysilicon ingots and wafers, PV cells and PV modules by the third quarter of 2009. The Fine Silicon Co. subsidiary plans to begin solar-grade polysilicon production by the second half of 2009. The company distributes its solar products in Germany, Spain, Italy, South Korea, Belgium, France, China, and the US. Yingli Green Energy is listed on the New York Stock Exchange under symbol YGE. Its stock was up 3.86% at the end of the June 9 trading day, closing at $15.87.

- Mike R. Lopez

Sources:

¹http://www.yinglisolar.com
²http://www.recurrentenergy.com

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