BAODING, China, April 12, 2016 /PRNewswire/ -- Yingli Green Energy Holding Company Ltd. ("Yingli" or "Yingli Solar") (NYSE: YGE), one of the world's leading solar panel manufacturers, today announced that its wholly owned subsidiary, Yingli Green Energy Europe GmbH ("Yingli Europe") has entered into an exclusivity agreement with an European EPC Partner ("Partner") to supply solar panels to PV projects that are expected to be developed and constructed in the Dominican Republic. According to the exclusivity agreement, Yingli Europe expects to supply up to 200 megawatts ("MW") of solar panels to the Partner. The exclusivity period will run until mid-2019, during which the commercial terms are also fixed by the agreement. To date, 50 MW of projects are at the advanced stage with anticipated construction during 2017 and the balance of 150 MW is at the preliminary stages of the development.
"With the European market facing headwinds," said Norman Luth, Project Manager at Yingli Europe, "we have continued to work alongside our long-term European Partners to help support the export of European know-how and experience to emerging markets around the world. This agreement illustrates the success of this approach underpinned by strong, flexible and transparent commercial relationships we have invested in for many years within the European arena."
"The combination of European EPC technical and economic efficiency, honed over many years in a challenging European market, and Yingli's leading brand with over 14 gigawatts of proven product performance in the field creates a potent force for the diffusion of solar electricity generation infrastructure in emerging markets," commented Mr. Liansheng Miao, Chairman and CEO of Yingli. "Such collaborations set the foundations for a cleaner and greener energy future."
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli" or "Yingli Solar", is one of the world's leading solar panel manufacturers. Yingli's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli has more than 30 regional subsidiaries and branch offices and has distributed more than 14GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
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:
Investor Relations Director
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Yingli Green Energy Americas
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-signs-an-exclusive-solar-panel-supply-agreement-for-pv-projects-in-the-dominican-republic-300249910.html
SOURCE Yingli Green Energy Holding Company Limited