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Yingli Green Energy inks US$70-mln deal with Heraeus

Apr. 19, 2012 (China Knowledge) - Yingli Green Energy Holding Co Ltd<YGE>, a vertically integrated photovoltaic product manufacturer, has signed a US$70 million worth of contract with Heraeus Holding, a globally active precious metals and technology company based in Hanau, Germany.

Pursuant to the agreement, Heraeus will dedicate resources in its three R&D centers, located in Hanau, West Conshohocken of the U.S., and Singapore, to develop silver metallization pastes for Yingli Green Energy's high-end solar cells.

New York-listed Yingli Green Energy, which maintains a balanced vertically integrated output capacity of 1,700 megawatts per year, expects to start initial production on capacity expansion projects in Haikou, Tianjin, Hengshui and Baoding by 2012 with a total additional capacity of 750 MW.

The Chinese photovoltaic product maker yesterday announced plans to secure a US$324 million of loan from China Development Bank to launch a wholly-owned subsidiary in Hong Kong to enhance its presence in the international market.

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