Friday, July 9, 2010

China’s Yingli Solar Gears Up for $5 Billion Expansion (YGE)

There's a number that gets ones attention.
Should they pull this off the Chinese Big Three will be Suntech, Trina and YGE.
From earth2tech:
If Yingli Green Energy Holding Co. is already a giant in the solar cell industry, it’s now seeking a more than $5 billion credit line to become one heavy beast. Yingli is in negotiations to borrow up to RMB36 billion, or about $5.31 billion, from the China Development Bank in order to “pursue opportunities that will allow us to strengthen our leadership position,” in the photovoltaic industry, the company announced on Friday.

Yingli Green Energy has more than 10 subsidiaries running the gamut from production of polysilicon used in solar cells through to assembly of solar modules. The company said today that the funds under this new agreement would go primarily toward the subsidiaries Tianwei Yingli, Yingli China and Fine Silicon for investments in their photovoltaics business in China and overseas....MORE