21 March 2013 04:34 [Source: ICIS news]
SINGAPORE (ICIS)--China's GCL-Poly Energy (GCL-Poly) and Yingli Green Energy Holding (Yingli) have signed an agreement to enhance cooperation in the photovoltaic field, GCL-Poly said on late Wednesday.
The companies entered into a strategic cooperation framework agreement in Beijing on 20 March.
Under the agreement, the companies will cooperate on the supply chain of polysilicon material, wafers and cells. The two will also cooperate on research, development and production to enhance the quality of photovoltaic products and to cut costs.
Yingli will procure polysilicon material and wafers from GCL-Poly to produce solar modules while GCL-Poly will buy modules from Yingli to build photovoltaic power stations in the future, a source close to the company said.
The cooperation is aimed to encourage the domestic photovoltaic industry in a bearish market. The sharing of resources will impact positively on the market, said Wang Yiyu, chief strategy officer of Yingli. He spoke at a conference on the cooperation agreement on 20 March.
Further details of the cooperation are under discussions, he added.
Hong Kong-listed GCL-Poly is a major polysilicon and wafer supplier, and a green energy and solar farm investor and operator.
New York-listed Yingli is one of the world's largest vertically integrated photovoltaic manufacturers. The company covers the entire photovoltaic chain, including the production of polysilicon and solar cells, and module assembly.
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