BAODING, China, March 2 /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 holds the brand Yingli Solar, today announced it has signed a sales agreement with SunDurance Energy, LLC ("SunDurance Energy"), a leading PV company based in New Jersey that develops, designs, builds and operates megawatt-scale solar power solutions. Under the terms of the agreement, Yingli Green Energy will supply more than 10 MW of PV modules to SunDurance Energy through the third quarter of 2010.
"This agreement is expected to extend the successful cooperation with SunDurance Energy that we have enjoyed over the last two years, and signals our continued commitment to the expansion into the United States solar market," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Thanks to our strong track record, which we have built on our high-quality products, excellent after-sales service and continuous brand promotion efforts, our 'Yingli Solar' brand modules are recognized as bankable, reliable products by customers, investors and commercial banks across the world."
"Our growth strategy in the U.S. is focused heavily on the commercial and utility-scale markets, where we are pleased to have several projects already underway with SunDurance Energy and other large-scale developers. As today's announcement signifies, we're dedicated to not only building our customers' loyalty and trust through our reliable products, but also through our ongoing superior customer support," added Robert Petrina, Managing Director of Yingli Green Energy Americas, Inc.
Al Bucknam, CEO of SunDurance Energy, commented, "We have had many good experiences during our years of partnership with Yingli Green Energy, whose high quality products have helped us consistently deliver great solutions to our customers. This agreement is the largest PV module purchase agreement in our history, and demonstrates our confidence both in Yingli Green Energy and in the market outlook for 2010. We purposefully set this agreement on a fast- track timeframe given our positive outlook for the coming year and the additional value we believe will be generated with the help of Yingli Green Energy's reputable, reliable products."
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 develops, manufactures and sells 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 6000 employees and more than 10 branch offices worldwide. Yingli Green Energy is publicly listed on New York Stock Exchange (NYSE: YGE). For more information, please visit http://www.yinglisolar.com .
About SunDurance Energy
SunDurance Energy, LLC develops designs, builds and operates megawatt- scale solar power solutions for forward-thinking corporations, utilities and government entities. SunDurance Energy offers full in-house design and project execution capability, deep experience, high bonding capacity, and rigorous value engineering processes. SunDurance Energy is an affiliate of The Conti Group, a century-old, nationwide leader in civil and industrial infrastructure, conventional and renewable power, homeland security and environmental remediation. For more information, please visit the website at http://www.SunDuranceEnergy.com .
For further information, please contact: In China: Qing Miao Director, Investor Relations Yingli Green Energy Holding Company Limited Tel: +86-312-3100-502 Email: [email protected] Courtney Shike Brunswick Group LLC Tel: +86-10-6566-2256 Email: [email protected] In the United States: Katie Cralle Brunswick Group LLC Tel: +1-212-333-3810 Email: [email protected]
SOURCE Yingli Green Energy Holding Company Limited