By Kari Williamson

Furthermore, IBC has the option to purchase another 20 MW in 2012.

The solar PV modules are expected to be installed in Germany, other European countries, as well as globally.

Liansheng Miao, Chairman and CEO of Yingli Green Energy, says: "Based on the strong faith that we have in each other, Yingli Green Energy and IBC have gone through the up-and-downs of the solar industry and achieved significant growth of our businesses during the past several years. We believe this agreement demonstrates our partners' strong confidence in the continuous growth of the PV industry and indicates the robust demand of our products in 2012."

Financials

In the last fiscal report avaiable (Q3 2011), Yingli reported a 21.9% increase in solar PV module shipments compared to the second quarter. Revenues reached RMB4258.6 million,  up almost 30% on the same quarter in 2010.

Despite this, the company recorded a net loss of RMB180.5m, compared to a net income of RMB456.1m in Q3 2010.

For the full year 2011, Yingli predicted solar PV module shipments in the range of 1.58-1.63 GW.