Yingli Green Energy Supplied PV Modules for the Largest Solar Plant in Latin America 40 MW of Yingli Solar modules chosen by project developers, Gestamp Solar and Solarpack, for installation in Tacna and Moqueua, Peru
BAODING, China and MADRID, Spain, Oct. 15, 2012 /PRNewswire-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", today announced that the Company has supplied 40 MW of PV modules for the largest solar plant in Latin America to date. Yingli Green Energy is the exclusive PV module supplier for the project.
The solar installation was developed in Peru by Gestamp Solar and Solarpack in collaboration with local companies. The project is based in two locations: approximately 20 MW in Tacna with 75,306 Yingli YL290 PV modules on an area of 120 hectares, and approximately 20 MW in Moqueua with 72,032 Yingli YL290 PV modules on an area of 123 hectares, respectively. The project is expected to be in operation at the end of 2012.
The solar plant is the largest in Latin America currently, and is expected to produce enough energy to power more than 67,000 homes in the area. Moreover, it is expected to avoid the emission of 24,000 tons of CO2 every year. By combining forces on this historic project, the Gestamp Solar-Solarpack joint venture and Yingli Green Energy are showcasing their strong commitment to sustainability and environmental stewardship.
"We are pleased to achieve this important milestone in Latin America," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Peru is one of the most important emerging markets in Latin America given its strong solar energy potential. By supplying modules for this project and by leveraging our sponsorship of the 2014 FIFA World Cup in Brazil, we are paving the way for substantial expansion throughout South America."
Fernando Calisalvo, General Managing of Yingli Green Energy Spain, stated, "We are pleased to cooperate with Gestamp Solar and with Solarpack to complete the largest solar plant in Latin America. This project plays a very important strategic role for our continued success."
"We are very glad to partner with a leading solar brand such as Yingli Solar. This project reinforces our presence in Latin America as one of main pillars of our international expansion, and help us to become one of leading solar companies in the Latin American industry," said Mr. Jorge Barredo, Chief Executive Officer of Gestamp Solar.
"We chose Yingli Green Energy because of their quality products and dedicated services. Solarpack has been at the forefront of developing and building solar projects in Peru, and with this landmark project, we are significantly expanding our leadership position," said Mr. Pablo Burgos, Chief Executive Officer of Solarpack.
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, from 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.
About Gestamp Solar
Gestamp Solar, the photovoltaic energy division of Gestamp Renewables, specializes in the development, construction, operation and maintenance of utility-scale photovoltaic plants in the United States, India, South Africa, Chile, Peru, Japan, Italy, France and Spain, and has developed and constructed over 450 MWs in solar energy projects to date. Gestamp Solar currently employs worldwide over 150 professionals.
Solarpack is a Spanish multinational that specializes in the promotion, construction and management of solar photovoltaic generation projects. Founded in 2005, the Company has been a pioneer in the development of the solar industry. Solarpack has presence in Spain, France, Chile, Peru, the United States and South Africa. The team is comprised of more than 50 professionals managing an active pipeline of 360 MW in projects throughout Europe, the United States, and South America. For more information, please visit www.solarpack.es.
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:
Director of Investor Relations
Yingli Green Energy Holding Company Limited
In the Americas:
Head of Marketing
Yingli Green Energy Americas Inc.
Marketing Communications Manager
Yingli Green Energy Europe GmbH
SOURCE Yingli Green Energy Holding Company Limited