Brazil’s MPX, China’s Yingli To Produce Solar Panels Near Rio

Feb.22, 2008 in Market Outlook

Last Update: 2/22/2008 7:10:30 AM

RIO DE JANEIRO (Dow Jones)–China’s Yingli Green Energy Holding Company Ltd.
(YGE) and Brazilian energy company MPX Minera??o e Energia SA (MPXE3.BR) plan to
build a solar panel factory near Rio de Janeiro, the president of Brazilian
holding EBX said Thursday.

MPX is the energy generation unit of EBX.

The plant will be able to build solar panels with a capacity to produce 50
megawatts of electricity, Eike Batista said. Construction is expected to start in
the first half of 2008, and the unit will start producing in 2009.

Batista didn’t disclose how high the initial investments will be.

The Brazilian billionaire expects the cost of solar energy in Brazil to drop to
$100 per MW in 2015 from $240 per MW now.

“Hydroelectric energy will continue to be the cheapest energy source in Brazil,
but it’s necessary to find an alternative to fuel Brazil’s economic growth
potential,” Batista said.

He added he expects Yingli and EBX to ramp up the production of solar panels to a
capacity of 1,000 MW in 2015.

The two companies plan to supply both Brazil and the rest of Latin America with
solar panels.

Yingli is one of China’s leading makers of photovoltaic panels.

-By Bernd Radowitz, Dow Jones Newswires; +55-21-2553-7322;
bernd.radowitz@dowjones.com;

(END) Dow Jones Newswires

February 22, 2008 07:10 ET (12:10 GMT)

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