Yingli Green Energy to Expand Its Footprint into Malaysia Residential Market
BAODING, China and SINGAPORE, July 2, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and the world's largest photovoltaic ("PV") manufacturer, which markets its products under the brand "Yingli Solar," today announced that its wholly-owned subsidiary, Yingli Green Energy Singapore Company Pte. Limited ("Yingli Singapore") has signed a framework agreement with RE FIT Solution Sdn. Bhd. ("RE FIT") to supply 500 KW of multicrystalline PV modules for the residential market in Malaysia. These modules will power at least 125 families, which currently accounts for nearly 10% of the residential market in Malaysia.
"We are pleased to cooperate with RE FIT and to bring clean power to Malaysian families with our high-performance PV modules. Today's announcement follows on the heels of our supply contract for the largest single site PV power plant in Malaysia," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "In light of Yingli Green Energy's reliable quality and convenient after-sale service, we believe that we will further expand our market share in the residential and utility segments of Malaysia, as well as other countries in Southeast Asia with huge potential for PV applications."
"We are pleased to be working with the world's largest PV supplier and to have signed a significant framework agreement. This not only represents RE FIT's confidence in the quality of Yingli Green Energy's modules, but also RE FIT's belief in the emerging solar industry in Malaysia," commented Mr Wong Sheng Foo, Project and Operations Manager of RE FIT. "We hope that RE FIT and Yingli Green Energy will have a long-standing collaboration as leading solar players in Malaysia."
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 the world's largest vertically integrated photovoltaic manufacturer. 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. Yingli Green Energy currently maintains a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, China, the United States, Japan, Italy, and Spain. 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:
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 6151
SOURCE Yingli Green Energy Holding Company Limited