Yingli Green Energy Holdings Co., China’s second-largest maker of solar panels by market capitalization, started construction of a 100-megawatt multi-crystalline silicon solar cell manufacturing plant in Hainan province.

The 770-million yuan ($ 113 million) plant, owned by its unit Hainan Yingli New Energy, is due to be completed by May 2011, parent company Yingli Group said Monday in a statement on its Chinese website.

The plant would double Yingli’s solar cell production capacity in Hainan. It started shipment of its products from the Hainan plant to Europe in July, according to Yingli Group’s website.

Yingli, whose shares have risen 18 percent in the last three months, said on Aug. 19 that its second-quarter net income rose 14 percent compared with the first quarter. 
 

 

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