BAODING, China and OAKLAND, Calif., March 21, 2011 /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 formed a strategic partnership with GRID Alternatives, a nonprofit solar installer whose mission is to empower communities in need by providing renewable energy and energy efficiency services, equipment and training. Under the terms of the agreement, Yingli Americas will provide the largest donation in GRID Alternatives' history, and will become the organization's official solar module provider.
Combined with a network of community volunteers and green job trainees, Yingli Americas and GRID Alternatives will work together to install 1 MW of solar energy systems for 400 low-income families during 2011 using a combination of donated modules and modules purchased from Yingli at fair market value. These solar energy systems will generate $10 million worth of renewable energy over their lifespan, while eliminating 40,000 tons of greenhouse gas emissions. In addition, the projects will provide hands-on job training opportunities in solar PV installation to thousands of individuals looking to enter the solar workforce, through direct participation in the installations.
"GRID Alternatives is grateful to Yingli for helping us make solar power available to the working families that need the savings the most, while helping build the clean energy workforce of the future. We are also proving that if solar is a viable technology for low-income families, it can work for anyone anywhere," said Erica Mackie, Executive Director and Co-Founder of GRID Alternatives. "We are thrilled to announce this partnership – which is the first of its kind in our organization's history – and commend Yingli Americas for their vision and dedication to helping disadvantaged communities in the US."
"Social responsibility is a key pillar in our mission, and we're very proud to announce this partnership with GRID Alternatives," said Robert Petrina, Managing Director of Yingli Americas. "At Yingli, we believe in making solar power an affordable option for everyone, and addressing our local underserved communities is an important step in achieving this -- we're delivering clean energy and job training where it's required most."
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented, "We have a long-standing commitment to global social responsibility and to improving the lives of our future generations. That's why we seek out collaborations such as this one with GRID Alternatives in order to make a tangible difference."
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 800 solar electric systems and provided hands-on solar installation training over 5,800 community members statewide. These systems represent over 1.8 MW of generating capacity, which translates to over $18.3 million in energy cost savings over the systems' projected life spans, while preventing 73,669 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 over 1 GW per year. Two capacity expansion projects of 600 MW and 100 MW are under construction in Baoding and Hainan, respectively, which are expected to start initial production in the middle of 2011 and will increase the Company's total nameplate capacity to 1.7 GW in late 2011. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, has successfully started commercial operation in early August 2010. 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 9,000 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:
In the Americas:
Director, Investor Relations
Head of Marketing Communications
Yingli Green Energy Holding Co. Ltd.
Yingli Green Energy Americas
Yingli Green Energy Europe GmbH
Tel: +86 312 3100502
Phone: +1 603 591 5812
Telephone: +49 89 540303412
For Grid Alternatives:
Manager, PR and Communications
Tel: +1 510-731-1323
SOURCE Yingli Green Energy Holding Company Limited