The second largest panel make, Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) and Borrego Solar have entered into a supply agreement. As per the reports, Yingli Green has agreed to supply different panel equipment with a capacity of 40 MW to Borrego Solar Systems Inc. The agreement is expected to help the company grabbing its market leader position shortly.
Terms & Conditions of Agreement:
The information was made public by Yingli in a statement on Tuesday. Terms of the agreement between China-based Yingli and Borrego haven’t been disclosed by any of the two company. While answering about the probable use of these panels, Borrego claimed that these panels would be used utility and commercial state projects in the United States of America. If taken into consideration the recent approach of these two companies, one can easily figure out that Borrego has installed 114 MW panels after year 2008.
Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) was the largest panel maker in the country in 2013, but due to stiff market competition, it lost the first place to Trina Solar Ltd. in the very next year. If Trina Solar’s total shipment of panels is taken into consideration, one can see that Trina shipped total 3.66 GW of panels in comparison with 3.36 GW of Yingli during the previous year.
The management of Yingli hoped that the company will be able to grab its market position in the coming months. It performed reasonably good in the previous quarter. The current quarter seems to be going perfectly fine as it has received an order from Borrego and quite a few other clients. The primary focus of the company is on delivering top-notched products to all the clients within the given deadlines. The coming few months will be crucial from the growth point of view, but the senior leadership team looks confident about the second to none performance by the company.
