Yingli revises module shipment outlook for Q1

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Leading module supplier Yingli Green Energy on Wednesday said module shipments in the first quarter would likely be better than expected while its gross margin would remain in line with earlier forecasts.

The Chinese solar group announced the revised figures ahead of its first quarter results, which it will publish on May 30.

The company said it expected a drop in its module shipments in the first three months of the year of between 6% and 7% from the fourth quarter of 2012, up from its previous forecast of a low-to-mid teen percent decrease.

Yingli added that its overall gross margin in the first quarter would remain in the range of 4% to 4.2%, in line with its previous estimate of a low-to-mid single digit percent.

Yingli, the top module supplier last year, has recently shifted its focus to the domestic Chinese market.

Earlier this month the group signed a deal with the state-owned China Power Investment Corporation to supply 220 MW of its modules to the government-owned China Power utility giant.

Last month Yingli secured a credit line from China development Bank (CDB) worth US$165 million.