Yingli Solar and GRID Alternatives Renew Partnership to Provide Solar Energy to 800 Low-Income Families in California and Colorado Successful Collaboration Continues Serving Disadvantaged Communities While Training Thousands of Workers in PV Installation
BAODING, China and OAKLAND, Calif., Feb. 28, 2012 /PRNewswire-Asia-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," announced today that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas"), has renewed its strategic partnership throughout 2012 with the Oakland-based nonprofit solar installer, GRID Alternatives.
GRID Alternatives' mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment and training. It has provided no or low-cost solar electric systems for more than 1700 families since 2004 while serving as a "classroom in the field" for solar job trainees.
Yingli Americas' 2012 agreement with GRID Alternatives builds on a 1MW partnership launched in 2011 that brought clean power to over 400 low-income homeowners across California, saving them an estimated US$11 million over the systems' lifetimes, while giving hands-on solar installation experience to thousands of workers. To see the partnership in action, visit http://youtu.be/myc-5hzPVco.
"Listening to the stories of these families and job seekers that we've helped and participated alongside has been remarkable, and we are excited to be expanding the program even further this year," said Helena Kimball, Head of Marketing, Yingli Americas. "Renewable energy is inherently about helping people who need energy most, and with more than 800 disadvantaged families powered by the end of this year, we've gone beyond what we imagined possible at the onset of this program."
As an Official Solar Module Provider for GRID Alternatives, Yingli Americas will be supplying another 1 MW of solar energy this year through a combination of donated and fair-market priced modules, donating an even larger portion than it did last year. The results will be helping hundreds more families, now including expansion into Colorado.
"Yingli's continued support for GRID Alternatives' mission means millions more in long-term savings for low-income families that need them most, thousands more learning opportunities for green job seekers and a win for the environment," said Erica Mackie, Executive Director and Co-Founder of GRID Alternatives. "We're thrilled that they decided to renew their commitment, especially as we begin replicating our model beyond California."
"Supporting our local communities through corporate social responsibility initiatives is something we care deeply about, and we are very proud to be official partners with GRID Alternatives," said Robert Petrina, Managing Director of Yingli Americas. "Our combined teams were a great fit from the start given our common goals for protecting the environment and helping those in need."
About GRID Alternatives
GRID Alternatives is a non-profit solar installer that trains and leads teams of volunteers and job trainees to install solar electric systems for low-income families throughout California. The mission of GRID Alternatives is to empower communities in need by providing renewable energy and energy efficiency services, equipment and training. Since 2004, GRID has installed over 1700 solar electric systems and provided hands-on solar installation training over 8000 community members statewide. These systems represent over 4.7 MW of generating capacity, which translates to over $44 million in energy cost savings over the systems' projected life spans, while preventing 148,000 tons of greenhouse gas emissions. GRID Alternatives also manages the Single-family Affordable Solar Homes (SASH) Program, part of the California Solar Initiative that is funded by California ratepayers under the auspices of the California Public Utilities Commission (CPUC). For more information, please visit http://www.gridalternatives.org
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. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of 1.7 GW per year. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 11,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit http://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:
Director of Investor Relations
Yingli Green Energy Holding Co. Ltd.
Tel: +86 312 8929787
In the Americas:
Head of Marketing
Yingli Green Energy Americas, Inc.
Tel: +1 603 591 5812
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
Tel: +49 89 540303412
For Grid Alternatives:
Tel: +1 510-731-1188
SOURCE Yingli Green Energy Holding Company Limited