by Matt Margolis
Yingli Green Energy reported their Q4 2013 earnings on March 18th. I wanted to take a closer look at their conference call to understand their solar industry outlook as well as to try to find Merlin. No I am not talking about “where is Waldo” but where is GTAT’s Merlin technology headed? GT’s CEO Tom Gutierrez did mention that Merlin would most likely not be named by the PV module makers but that we would be able to recognize Merlin if we saw it. So my question is, where is Merlin?
Yingli Raises $83m of Cash for China Power Plants
Yingli announced plans on Friday to raise $83m via a secondary share offering. The company indicates that the funds will be used to build solar power plants in China. The shares were offered 17% below Yingli’s closing share price on Thursday and the stock traded down nearly 13% on Friday.
Yingli’s Solar Industry Outlook
Looking ahead, we’re optimistic on the state of the solar industry in the U.S., Latin America and the overall region. 2014 is picking up where 2013 left off, demand is strong in our book of businesses filled and well-balanced. The momentum we are witnessing we will be enduring and we believe that we are just getting started in what will be a tremendous end market for years to come. We are confident that with cooperation and support of our customers and other key stakeholders, we will navigate the uncertainty of this new trade petition and soon be able to focus on our key mission, which is drive adoption of solar energy across the continent and the world. (Seeking Alpha)
Next Generation PANDA series modules: Bigger, Lighter & Highly Efficient
In 2014, we expect to mass produce a variety of new generation of other PANDA series modules, bigger but lighter weighted and high-efficiency. our proprietary goal is to create differentiated products that provide more value for our customers and accelerated the deployment of solar across the world.
A bigger PV module that weighs less than a smaller module is usually an oxymoron. GT’s Merlin technology, which removes up to 80% of the silver paste from the traditional PV module design would certainly reduce the weight even if the PV module supplier increased the size of the unit.
Is Yingli’s next generation of PANDA series modules, that have been described as being; bigger, lighter, highly efficient and expected to be mass-produced in 2014 the first sign of Marlin?
Full Disclosure: I am long GTAT and have no plans to buy or sell any holdings