BEIJING, Mar. 10 -- Yingli Green Energy Holding Co Ltd<YGE> yesterday announced that it plans to start a monocrystalline silicon project in Baoding, Hebei Province designed to have an annual output of 300 megawatts, sources reported.
The project will include a monocrystalline silicon production line, ingot casting and production of "Panda" solar cells. This kind of solar cell was jointly researched and developed by Yingli Green Energy Holding, the Energy Research Centre of the Netherlands and solar firm Amtech.
The Hebei branch of Bank of Communications<601328><3328> will provide two loans totaling RMB 1.75 billion to the 300-MW project.
Miao Liansheng, chairman and CEO of Yingli Green Energy Holding said that the company's total output is expected to hit 1,000 MW, including a 600-MW project already in operation in Baoding and a 100-MW project under construction in Hainan Province
Reportedly, Yingli Green Energy Holding reaped RMB 2.53 billion or US$370.8 million in operating revenue in the fourth quarter of 2009, but the firm's American Depository Shares showed a loss of US$0.04 per share.
The solar cell developer's gross profit margin for 2010 is predicted to be between 27% and 29%.