YGE’s Solar Outlook, Cash Raise and Their Focus on Bigger, Lighter and Highly Efficienct PV Modules

Posted: April 29, 2014 by mattmargolis24 in Merlin Technology, Solar News
Tags: , , , , , , ,

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?

Merlin Timeline

 

Full Disclosure: I am long GTAT and have no plans to buy or sell any holdings

 

 

 

 

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Comments
  1. millsy says:

    I dont know enough about the solar sector but posted this link on stock twits on april 25. First merlin customer???? http://www.solar-international.net/article/80020-LG-Solar-announce-new-manufacturing-process-and-capacity-expansion.php take a look matt and tell me what u think, thanks

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  2. Barry Fitzgerald says:

    I doubt that silver accounts for much of the weight on a panel. The physical structure changes would overwhelm any silver improvements but then that could be from Merlin’s packing density improvements and interconnect changes. Plus since they are more sturdy against shock, reductions to the framing might be possible.

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  3. quinn mackeen says:

    Quick thought, Matt. Yingli is a possible buyer of GTAT equipment, but it’s important to note that they are NOT a good firm, nor in good shape. They’re damned near bankruptcy, have slashed expected shipments this Quarter, their stock is down to $3.50, they’re a mile from profitability and while a firm that’s getting desperate MAY be interested in buying, they may not have it together.

    Jinko Solar, on the other hand, is the most profitable Chinese solar, is expanding incredibly rapidly, has a LOW internal R&D budget and likes to buy in its advances. And who has been a major supplier of theirs in the past, from 2007 on?

    You got it.

    GTAT.

    So, JKS has money, they’re busily retooling a 500 MW plant they picked up from Topoint for a song, they don’t have the internal R&D resources to upgrade as quickly as they’d like, and so…. while they’re in no way a sure thing, I’d have to say they certainly make the list alongside YGE.

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