BAODING, China and ROME, Italy, July 21 /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 manufacturers, which holds the brand "Yingli Solar," today announced that its wholly owned subsidiary, Yingli Green Energy Italia Srl ("Yingli Green Energy Italia") has signed a PV module sales agreement with Tecno Spot. Under the terms of the sales agreement, Tecno Spot will purchase approximately 6 MW PV modules from Yingli Green Energy Italia through the end of 2010. In addition, Tecno Spot is also committed to purchasing additional 10-20 MW PV modules by the end of 2011. Founded in 1998, Tecno Spot is one of the largest European solar vendors headquartered in Italy which has provided equipment and services for more than 5,000 solar projects around the world.
"We see great potential in the Italian market, which has a very robust demand for Yingli Solar modules," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We believe by collaborating with Tecno Spot, a PV pioneer in Italy, we will further expand our business in this rising top-tier European PV market."
Mr. Gert Gremes, Chief Executive Officer of Tecno Spot said, "The relationship we are building with Yingli Green Energy will help us keep pace with the rapid market growth. We have faith in Yingli Green Energy not only because of the high performance of its modules, but also the excellent customer service it provides."
Mr. Fabio Patti, Sales Manager of Yingli Green Energy Italia added, "The cooperation with Tecno Spot is an important step taken for our channel expansion in Italy. We expect to provide value-added services to the end-user through working with seasoned partners such as Tecno Spot."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which holds 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 production capacity of over 600 MW per year. Two capacity expansion projects of 300 MW and 100 MW located in Baoding and Hainan, respectively, have started initial production in early July 2010, and are expected to bring the total nameplate capacity of Yingli Green Energy to 1 GW by the end of third quarter 2010. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, is at the final stage of the segment trial process, and is expected to start fully integrated production from mid-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 7,000 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 .
Yingli Green Energy Italian office is located in Rome, in via del Poggio Laurentino 118.
About Tecno Spot
Tecno Spot was founded in 1998 by far-sighted Gert Gremes. Its fast growth is mainly based on national commercialization. Gert Gremes is among founders of the GIFI (group of Italian photovoltaic companies), a branch of ANIE (the national federation of electronic and electro technical companies) and Confindustria. Tecno Spot is a provider of solar energy systems, and a valuable partner for the design and development of your project. For more information, please visit http://www.tecnospot.eu .
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 China: Qing Miao Director, Investor Relations Yingli Green Energy Holding Company Limited Tel: +86-312-3100502 Email: [email protected] In the Americas: Judy Tzeng Lee Director of Corporate Development Yingli Green Energy Holding Company Limited Tel: +1-510-8473920 Email: [email protected] In Europe: Rebecca Jarschel Brand Manager Yingli Green Energy Europe GmbH Tel: +49-89-540303412 Email: [email protected]
SOURCE Yingli Green Energy Holding Company Limited