Yingli, S.A.G. Solarstrom in solar module contract

Baoding, China-based Yingli Green Energy Holding (NYSE: YGE) announced today that it signed a contract to supply 36.8 megawatts of photovoltaic solar modules to Germany's S.A.G. Solarstrom. Yingli also said it's completed the installation and trial production of an additional 200 MW of annual manufacturing capacity of each of PV polysilicon ingots and wafers, cells and modules.

"As a result of solid relationships with equipment suppliers and a concerted effort by our entire team, we are pleased to have reached 400 MW of annual manufacturing capacity ahead of schedule," said Liansheng Miao, chairman and CEO of Yingli, in a statement.

The expanision was previously expected to be complete at the end of this year. Yingli initiated small-scale production of photovoltaic components from the expansion in July (see Yingli begins production of 200 MW expansion).

"In addition, I am also delighted to confirm that our plan to construct an additional 200 MW of annual manufacturing capacity is on track to be completed by mid-2009."

Under the terms of Yingli's deal with S.A.G., Yingli will supply 36.8 MW of PV modules to S.A.G. from December 2008 to December 2009.

"We initiated our relationship with Yingli Green Energy with a 5 MW contract in 2005, and we are happy to expand our cooperation with this larger agreement," said Karl Kuhlmann, CEO of S.A.G.

Yingli said it has now contracted substantially all of its estimated PV module output for the remainder of this year and has secured more than 90 percent of its estimated polysilicon requirements.

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