China, Solar

GT Solar inks US$56m deal with Chinese firm

November 28, 2007 (NH Business Review) – GT Solar, the Merrimack-based maker of photovoltaic manufacturing equipment, has signed a $56 million contract with Yingli Green Energy Holding Company Ltd., a large-scale photovoltaic module manufacturer based in Baoding, China.

Fuel and Power Generation,Environment,Technology,Solar Panel,Electricity,Solar Energy,Sun,Blue,Sky

The contract involves GT Solar’s next generation of silicon ingot furnaces.

“Yingli is a leader in the growth of solar energy production in Asia and throughout the world. Their purchase of our new DSS 450 furnace will provide up to 80 percent more capacity per cycle and within the same footprint of our prior generation furnace,” said Tom Zarrella, president and CEO of GT Solar.

The company said the deal was Yingli’s fourth and largest order of GT Solar’s DSS furnaces, which grow multi-crystalline ingots up to 450kg. It is expected to bring Yingli’s installed furnace capacity to approximately 600MW in 2009.

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