China's Yingli to triple solar panel capacity

The firm is spending some 130 billion yen (around USD$1.47; €1.17) over three years to construct a large production facility on Hainan Island. The site’s No. 1 plant was recently completed and will begin operations in the near future. It will have an annual production capacity of 100 megawatts (MW). A plant with a capacity of 200 MW a year will also be built.

Yingli Green Energy produces solar panels at a site in Hebei Province, continues Nikkei.

In addition, a new plant will be added to an existing one in Hebei Province. The new facility will come onstream in 2012 with 300 MW of capacity, with the possibility of expanding to 800 MW as domestic and foreign demand warrant. The firm’s investment will likely come to 40-80 billion yen.

Yingli is also looking at building a 100 MW-per-year panel plant in the southwestern U.S. at a cost of five billion yen, concluded Nikkei. This plant would supply AES Solar Energy Ltd., with which Yingli signed an agreement in 2009.