Yingli Green Energy and AMB Energia Wytwarzanie Join Hands in Co-developing 30 MW Project Opportunities in Poland
BAODING, China, July 31, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar," today announced that its wholly-owned subsidiary, Yingli Green Energy International AG, has entered into a strategic alliance with AMB Energia Wytwarzanie ("AMB Energia"), a subsidiary of AMB Energia S.A. to co-develop 30 MW of solar projects in Poland.
Within the framework of the agreement, AMB Energia as a local partner will fully develop the projects with the strongest support from Yingli throughout all project stages. Both parties intend to sell the turn-key projects to investors. The closure of this strategic partnership endorses once more the Company's strategy of identifying strong local partners in key regions of the world for project opportunities by at the same time consistently transforming from a pure module supplier into a provider for integrated solar energy solutions.
"In this strategic alliance, the partners will jointly work on co-developing a diversified project portfolio to be ready for inclusion into the auction system* in 2015. As a leading developer in Poland, AMB Energia will engage in all stages of the development phases of the solar PV projects. This partnership will furthermore enhance our strong position in the project business as well as in the Polish market," said Mr. Manuel Seiffe, Head of Project Business, Yingli Green Energy International AG.
"It is a great honor to cooperate with the world's leading PV manufacturer on the development, implementation and commissioning of projects. We believe that the investment in a pipeline of early-stage project opportunities will bear fruit as early as in 2015," said Mr. Przemyslaw Pieta, Chief Executive Officer of AMB Energia S.A.
* The auctions will be conducted separately for planned renewable installations below and above 1 MW with only ready-to-build projects allowed to participate.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 9,000 MW PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About AMB Energia
AMB Energia S.A. is an independent energy company operating in energy retail sales and the renewables sector. The company is the leader in the Polish energy retail market, having won the trust of almost 20,000 business and individual customers. In the renewables sector, the company is focusing on the development of PV and wind projects and has one of the largest portfolios of PV projects in Poland. Reaching ready-to-build status for several projects has helped the company to gain unique experience in the development of complex solar energy projects.
AMB Energia also owns and operates the largest existing private PV installation in Poland to date.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Head of Marketing
Yingli Green Energy Americas Inc.
Public Affairs & Public Relations Director
Yingli Green Energy International AG
Tel: +41 (0) 44 567 6143
SOURCE Yingli Green Energy Holding Company Limited