Yingli $5.3 Billion Loan May Boost Solar Panel Supply (China to double global PV production)

[jpak]

http://www.businessweek.com/news/2010-07-08/yingli-5-3-billion-loan-may-boost-solar-panel-supply.html

China may double the world’s capacity for making solar panels by loaning Yingli Green Energy Holding Co. 36 billion yuan ($5.3 billion) to expand production, a Bloomberg New Energy Finance analyst said.

The funds from the state-run China Development Bank Corp. follow an agreement to lend as much as 50 billion yuan to Suntech Power Holdings Co. in April. Some 30 billion yuan was also loaned to Trina Solar Ltd. by the bank in the same month, according to New Energy Finance. The three New York-traded companies are China’s biggest solar firms by market value.

“The loans are enough to increase the world’s solar wafer and cell capacity by 100 percent,” said Jenny Chase, head of solar-energy analysis for New Energy Finance in London. “It will allow the Chinese companies to deliver unprecedented economies of scale.”

The money will allow China to strengthen its position as the world’s largest maker of solar panels used to generate electricity from the sun’s rays. Yingli and its Chinese competitors shipped 43 percent of the world’s solar panels last year, according to the London-based research group owned by Bloomberg LP.

<more>

thank you Ronald Reagan and the GOP for killing the US solar inudtry in its crib.

those could have been American jobs,

:oldDUFUsimley:

[aquart]

1. They should have been American jobs.

They still could be if we got off our asses and stopped kissing the oil companies.