Yingli plans to develop 600 MW of Panda mono-crystalline, silicon based manufacturing lines at the Baoding premises and an additional 100MW of multi-crystalline, silicon-based manufaturing lines in Haikou, in the Hainan province. The completion of the two projects will see the company expand its capacity to 1.7 gigawatts. Initial production at the two additional developments is slated to start mid-2011.
"The launching of these new expansion projects marks another key milestone in the rapid growth of Yingli Green Energy," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
"The demand for our Yingli Solar modules continues to grow rapidly in the global market and we are pleased to further expand our capacity to meet the growing market demand and the increasing interest in our Yingli Solar modules. Especially, we see robust demand momentum for the Yingli Solar Panda module as a result of its high cell conversion efficiency targeting to reach 18.5 percent or above on commercial production lines by the end of this year, which is expected to help reduce the balance-of-system costs.
"We are confident in solidifying our leading position in the increasingly challenging industry and further increasing our market shares with our expanded capacity."