http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/yingli-to-undergo-major-production-expansion-to-increase-market-share.html

Solar photovoltaic (PV) manufacturer Yingli Green Energy plans to implement 700MW of expansion projects at its headquarters in China’s Hainan province next year.

The company said it plans to build 600MW of mono-crystalline silicon-based manufacturing lines for ingots, wafers, cells and modules at its Baoding headquarters through its wholly-owned subsidiary Yingli Energy.
It also plans to construct an additional 100MW of multi-crystalline silicon-based manufacturing lines in Haikou in the province.
The two projects will increase the company’s capacity to 1.7GW, leaving the company confident that it will solidify its position in the industry and increase its market share.
‘The launching of these new expansion projects marks another key milestone in the rapid growth of Yingli Green Energy,’ said Yingli CEO Liansheng Miao.
‘We are confident in solidifying our leading position in the increasingly challenging industry and further increasing our market shares with our expanded capacity.’
Miao said the demand for Yingli solar modules continues to grow rapidly in the global market, citing robust demand momentum for the Yingli Solar Panda Module as a result of its high cell conversion efficiency.
The company aims to reach 18.5 per cent efficiency or above on commercial production lines of this product by the end of the year in the hope of cutting the balance of system costs.
‘With a cash balance of more than RMB4bn ($600m) in bank accounts as of 30 September, the recent registration of RMB2.4bn medium-term notes…to further optimise our overall capital structure and enhance our cash position, we currently maintain a healthy level of cash,’ said Zongwei Li, director and CFO of Yingli Green Energy.
‘Such a robust cash position significantly helps remove the pressure for us to raise funds on stock market to finance the capacity expansion projects.’
The company also expects additional long-term project financings from Chinese banks to support its capacity expansion projects, Li added.
Yingli’s current balanced annual production capacity stands at around 600MW. The new expansion plans will add to two capacity expansion projects of 300MW and 100MW that were announced earlier in the year.