Yingli Green Energy Holding Company Limited(NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "Yingli Solar," announced that its wholly-owned subsidiary Tianjin Yingli New Energy Resources Company Limited ("Tianjin Yingli") has achieved significant progress in multicrystalline ingot casting.
In July 2012, Tianjin Yingli entered into a partnership agreement with Zhejiang Jingsheng Mechanical & Electrical Company Limited ("Jingsheng") to develop high-efficiency multicrystalline ingot casting technology based on gas refrigeration. Through joint efforts of both parties, Tianjin Yingli has successfully upgraded its furnaces and improved the quality of its ingots. According to experimental results,the best average conversion efficiency of cells using wafers from one of the improved multicrystalline ingots reached 17.75%.
"We're pleased to see that our partnership with Jingsheng has led to significant advancement of multicrystalline ingot casting," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "The improved technology will allow us to enhance our competitiveness through reduced consumption of energy and raw materials and improved yield rate. As a leading renewable energy company, Yingli has been committed to technology and product innovation, which has enabled us to emerge stronger under the challenging market conditions."