Boston, MA 03/10/2014 (wallstreetpr) – Venturing into Middle East: Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) announced its largest supply agreement to supply in Israel and Middle east, by which the company will be supplying 27.5 MW of multicrystalline PV modules through its YGE72 Cell NH series, between February and April 2014. The company plans to occupy more than one million sq. meters of land in Israel. This supply is made through its distribution partner Ledico Ltd, in Israel and has been designated by National Infrastructure Project, and under the supervision of Israeli Public Utilities Authority. The company foresee huge potential of 340 MW of PV capacity by 2014. The company plans to work with leading solar companies to explore the solar resources in the Middle East region, in the near future.
Seven Mega projects in UK: Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) also planned to supply 54MW of solar modules to seven projects in UK, which are developed by Grid Essence UK ltd. This grid connection is scheduled to be completed before Q114. These power plants are expected to generate 54,500 MWh of green electricity each year.
Revising Estimates: Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) also recently announced preliminary estimates for Q413 and FY13. The company estimates its PV module shipment to lie between 3.2GW to 3.3GW and revenue to perform above its earlier estimated guidance and plans to witness growth of 11%-12% from that of previous Q313. Gross margin is expected to hover between 12%-13% which dipped from its previous guidance estimate of 14%-16%. This was mainly due to year-end tax adjustment and a result of implementing VAT exemptions, offset and refund policy along with low efficient inventory. The company reiterated that by excluding these expenses the gross margin would have stood at 14-15% in the fourth quarter 2013.
Focussing on Brand: Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) also announced its proposal to sponsor FCB youth football club which would primarily cater to publicize its brand name.
