Energy
Yingli Deal Brings Some Attention To Solar (YGE, AES, CSIQ, JASO)
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Photovoltaic solar maker Yingli Green Energy Holding Company Limited (NYSE: YGE) has announced a framework agreement with a subsidiary of AES Corporation (NYSE: AES) to supply PV solar modules to AES Solar Energy Ltd. for a term of three years.
The company did not put a price tag on the deal. AES Solar builds and operates utility-scale solar plants, so the contract could be a nice boost for Yingli.
Yingli’s shares are up nearly 8.5% in pre-market trading, at $8.08. The stock’s 52-week range is $2.50 to $27.96.
We are seeing some of the smaller actively traded solar stocks trade up this morning, which may be a reaction to the news. Canadian Solar Inc. (NASDAQ: CSIQ) is up 2.4% at $8.00 and JA Solar Holdings Co., Ltd. (NASDAQ: JASO) is up 1.5% at $3.40. Where these go today will probably depend upon more issues than Yingli.
Paul Ausick
May 15, 2009
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