BAODING, China and OAKLAND, Calif., Feb. 27, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company that markets its products under the brand "Yingli Solar," today announced that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas") has renewed its strategic partnership with GRID Alternatives ("GRID"), a non-profit solar installer that brings renewable energy to low-income communities.
Yingli Green Energy originally teamed up with GRID Alternatives in 2011, when it became GRID's first and largest official solar module supplier. By the end of this year Yingli Green Energy will have supplied almost 4 MW of donated and fair-market value solar modules to GRID. The Partnership will help nearly 1,200 low-income families go solar across California and Colorado, saving them an estimated $30 million over the systems' lifetimes. In addition, by the end of 2014, thousands of solar job trainees will have accrued 150,000 hours of hands-on experience installing PV projects using Yingli Solar modules.
Helena Kimball, Head of Marketing for Yingli Americas, said, "We first decided to partner with GRID Alternatives because their mission so closely reflects our own: to provide affordable green energy for all. We are proud to have already given nearly 1,000 U.S. families the help they need to lower their utility bills and to put those cost savings towards a better future. We commend GRID for their dedication, their team, and their success – it's a fantastic partnership."
GRID Alternatives' mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment, and professional training. Since 2004, more than 3,000 low-income families have received no- or low-cost solar energy systems through GRID. While the non-profit organization's efforts were initially focused on underserved communities in California, GRID was able to expand their operations to Colorado in 2012, thanks to the support of partners such as Yingli Green Energy.
"As our first major manufacturer partner, Yingli has been an invaluable resource to help us grow both geographically and in the number of families we've been able to serve," said GRID Alternatives Co-Founder Tim Sears. "We are thrilled to have Yingli's continued partnership as we expand nationally."
"My husband had been out of work for 18 months," said Valerie Paschell of Crockett, California, one of the first low-income homeowners to receive a solar energy system using Yingli Solar modules. "I knew I wouldn't have to worry about the electricity bill. For us it's been quite a blessing."
Yingli employees have also donated their time as volunteers on GRID projects. On Saturday, February 23rd, fifteen Yingli Green Energy employees from around the globe helped install a 3.7 kW solar energy system on the Vance family's home in the Bayview neighborhood of San Francisco, California.
"Our employees volunteer their time and energy towards projects like GRID Alternatives because we care deeply about social responsibility," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We truly believe that solar energy can dramatically improve the the lives of future generations, and we hope that GRID's model inspires like-minded organizations across the world to take action."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively.
Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China, Japan and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.
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:
Qing Miao Vice President of Corporate Communications Yingli Green Energy Holding Company Limited Tel: +86 312 8929787 Email: firstname.lastname@example.org
In the Americas:
Helena Kimball Head of Marketing Yingli Green Energy Americas Tel: +1 603 5915812 Email: email@example.com
Rebecca Jarschel Marketing Communications Manager Yingli Green Energy Europe GmbH Tel.: +4989540303412 Email: firstname.lastname@example.org
SOURCE Yingli Green Energy Holding Company Limited