Yingli Green Energy Holding Company Limited announced that it has signed two sales contracts with IBC Solar AG to supply 91MW of PV modules from December 2008 to December 2009. Supplies are agreed to be made at fixed prices for December 2008 and from January through October 2009 at which time they will be adjusted by mutual agreement if the market price falls below the fixed prices.
“We are very pleased to announce these significant new contracts, which we believe provide more visibility for our sales in 2009,” commented Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “The majority of our customers are companies with an established track record of successful operations, just like IBC Solar. We expect that these new contracts will further strengthen our leading position in the German market and provide a solid foundation for our continued success there in the coming year. In addition, we believe our competitive PV module pricing and reliable product quality, which are supported by our vertically integrated business model and one of the lowest non-polysilicon manufacturing cost structures in the industry, will further enhance customer loyalty and extend our market share in this competitive environment.”