Yingli signs 15 MW solar module deal with German installer

Baoding, China-based Yingli Green Energy Holding (NYSE: YGE) has signed a deal to supply 15 megawatts of photovoltaic modules to Germay's Goldbeck Solar in 2009.

Yingli's share were up 5.9 percent in morning trading.

The modules are expected to be used on industrial buildings. Under the contract, Goldbeck could purchase an additional 58 MW of panels in 2009.

Financial terms were not disclosed.

PV system specialist Goldbeck Solar is a subsidiary of Goldbeck, an industrial construction company in Europe. Goldbeck Solar provides turnkey industrial PV rooftop systems, professional ground mounted PV systems and operation and management services in Europe.

Menlo Park, Calif.-based Signet Solar has said Goldbeck is among several German solar installers to sign 150 MW of orders through 2011 for Signet's thin-film solar line (see Applied thin-film line reaches commercial production).

Yingli is one of the largest manufacturers of PV products in the world, with 400 MW of total annual production capacity in polysilicon ingots and wafers, in PV cells and in PV modules (see Yingli begins production of 200 MW expansion and Yingli to build solar power plant in Beijing).

Through a subsidiary, the company plans to expand capacity to 600 MW by the third quarter of 2009. 

Yingli announced two deals with German PV system integrators in December. City Solar Kraftwerke AG and Wirsol Deutschland GmbH are to buy 20 MW and 15 MW of photovoltaic modules, respectively, from Yingli (see Yingli shares rise on word of new sales).

Yingli's 2009 outlook forecasts shipments of between 550 and 600 megawatts of solar cells and a gross margin of at least 24 percent (see China Sunergy, Yingli announce supply deals amid sector turmoil). Yingli said the estimates took into account the expected polysilicon prices, lower prices for photovoltaic modules, and depreciation of the euro against the U.S. dollar (see Dollar's strength hurts SunPower). 

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