Yingli Green Energy to boost capacity by 700 MW

(ADPnews) - Oct 20, 2010 - Chinese photovoltaic (PV) equipment maker Yingli Green Energy (FRA:YG11) will expand the manufacturing capacity of its solar power components by adding extra lines with a combined capacity of 700 MW.

The company announced on Friday that it will build 600 MW of PANDA mono-crystalline silicon-based manufacturing lines at its Baoding headquarters.

Additional 100 MW of multi-crystalline silicon-based manufacturing lines will be built in Haikou, Hainan province, southern China.

As a result of the expansion programme, which is expected to close in mid-2011, the company's manufacturing capacity will increase to 1.7 GW.

"With a cash balance of more than CNY 4 billion (USD 602m/EUR 430m) in bank accounts as of September 30, 2010, the recent registration of CNY 2.4 billion medium-term notes, which is a committed funding source to further optimise our overall capital structure and enhance our cash position, we currently maintain a healthy level of cash, which we believe is further supported by expected additional long term project financings from PRC domestic banks to support our capacity expansion projects," said Zongwei Li, CFO of Yingli Green Energy.

(CNY 1.0 = USD 0.151/EUR 0.108)

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