Yingli Green Energy, a Chinese vertically integrated photovoltaic product manufacturer, has entered into a new long-term polysilicon supply agreement with German company Wacker Chemie AG.
Under this agreement, Wacker Chemie will supply Yingli Green Energy with polysilicon from 2010 through the end of 2017. The total amount of polysilicon supplied is expected to allow Yingli Green Energy to produce approximately 380 MW of PV modules over the life of the agreement.
Liansheng Miao, chairman and CEO of Yingli Green Energy said that including this newly signed agreement, Yingli has signed five long-term supply agreements with Wacker Chemie since 2006, demonstrating the solid relationship between the two parties.
Yingli Green Energy is one of a limited number of large-scale PV companies in the world to have adopted a vertically integrated business model. Through its wholly owned subsidiary Yingli Energy (China), Yingli Green Energy currently plans to expand its annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 600 MW by mid-2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States.