Yingli Green Energy to Supply 28 MW of PV Modules for the State Grid Corporation of China
BAODING, China, Sept. 11, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic ("PV") manufacturer, which markets its products under the brand "Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited ("Yingli China"), will supply 28 MW of multicrystalline YGE Series PV modules to the State Grid Corporation of China ("SGCC"), the world's largest utilities company. SGCC is a state-owned enterprise approved by the State Council to conduct government authorized investment activities and has been ranked the 7th in the Fortune Global 500 in 2013.
Yingli Green Energy's modules will power the largest out of three solar projects being developed by SGCC in Zhangbei County, Hebei Province. These installations, totaling 60 MW, are part of the second phase of China's National Wind/PV/Energy Storage and Transmission Joint Demonstration Project ("the Project"). According to the relevant requirements of the bid documents, the Company will complete module delivery in the fourth quarter of 2013.
The Project is an innovative demonstration that integrates different renewable energy technologies with smart transmission and storage technologies with the goal of predictably and reliably delivering green energy across the grid at-scale. The Project will help SGCC fulfill its goal of creating a "Strong & Smart Grid" while also expanding renewable energy capacity in China.
"We are honored to have the opportunity to collaborate with SGCC again and to provide our high-quality PV modules for this high-profile energy demonstration project," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We were selected for this project because of our leadership position in the domestic market, and we are pleased to note that the bidding results demonstrate that the price gap between China and overseas markets is narrowing as supply and demand fundamentals in the Chinese solar market are strengthening, helping to further improve our profitability."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of shipments. With 2,450 MW of vertically-integrated annual production capacity, 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 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW PV modules to customers worldwide. For more information please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
SGCC was established on December 29th, 2002. It is a state-owned enterprise approved by the State Council to conduct government authorized investment activities. SGCC was ranked the 7th in the Fortune Global 500 in 2013, and is the largest utility in the world. The mission of the company is to provide safe, economical, clean and sustainable electric power for social and economic development. The company's core businesses are the construction and operation of power network that covers 26 provinces, autonomous regions and municipalities. For more information please visit www.sgcc.com.cn.
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
SOURCE Yingli Green Energy Holding Company Limited