BAODING, China, Dec. 14, 2010 /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 markets its products under the brand "Yingli Solar," today announced that it has entered into a three-year sales contract with S.A.G. Solarstrom AG ("S.A.G."), one of the leading manufacturers, independent developers and system integrators in the solar power and solar investment market in Europe. Under the terms of the contract, Yingli Green Energy will supply 220 MW of PV modules to S.A.G. from 2011 through 2013. The modules are expected to be installed in residential, commercial rooftop and ground-mounted power plants across key European PV markets where S.A.G. operates.
"We are pleased to announce our extended partnership with S.A.G., which will further strengthen the already successful cooperation between us," Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented. "This long-term contract reflects the trust and confidence that our customers have in Yingli Green Energy's ability to meet their increasing requirements on a consistent basis. We recognize that strong support from our channel partners and loyal customers is a key success factor for our sustainable growth in this fast-growing and competitive industry."
"Yingli Green Energy is one of our most preferred partners due to their excellent product quality and reliability. This secured volume of high-quality PV modules is an important step towards implementing our planned growth over the next few years," said Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG.
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 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 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 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.
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, Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86 312 3100502
In the Americas:
Judy Tzeng Lee
Director of Corporate Development
Yingli Green Energy Holding Company Limited
Phone: +1 510 8473920
Yingli Green Energy Europe GmbH
Telephone: +49 89 540303412
SOURCE Yingli Green Energy Holding Company Limited