BAODING, China, November 12, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic (PV) manufacturer, today announced that its wholly-owned subsidiary, Yingli Green Energy Spain, S.L.U ("Yingli Spain") has supplied over 5 megawatts (MW) of solar panels for Bolivia's first solar power plant. Isotron, a subsidiary of the energy company Isastur and a leading global PV project developer and engineering, procurement, and construction (EPC) services provider, installed more than 17,000 solar panels in the 5 MW project, which is Bolvia's largest solar project and the world's largest storage-equipped hybrid PV-diesel project.
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As Bolivia's first and largest solar power plant, the 5 MW system is expected to deliver clean energy to more than 49,000 people. It occupies 15 hectares (Ha) of land near the remote city of Cobija in the state of Pando, which has relied on diesel power generation because it is not connected to Bolivia's national utility grid. EGSA (Empresa Electrica de Guaracachi S.A), a subsidiary of ENDE (Empresa Nacional de Electricidad), carried out preliminary studies and basic engineering for the project.
The new solar power system incorporates both battery storage and diesel generation to ensure continuous access to electricity. It is expected to generate 7,500 megawatt-hours (MWh) of clean power each year, meeting approximately 50% of regional demand. The power plant will offset more than 1.9 million liters of diesel fuel, which will result in significant energy cost savings for the Bolivian government.
"We are pleased to complete this project in partnership with Isotron of Bolivia, one of our long-term strategic partners. We believe this is a landmark reference project in Bolivia and globally due to its large scale, the combination of traditional power generation and energy storage with PV, and the number of connected consumers," commented Mr. Fernando Calisalvo, Managing Director of Yingli Spain.
"Yingli proved to be a committed partner at every stage of this innovative project, which promises to be one of Latin America's most influential and forward-looking energy facilities. We look forward to working with the Yingli team in the future, especially as PV becomes an increasingly important element of the energy mix in Bolivia and beyond," noted Mr. Jose Antonio Alvarez, an ISASTUR Group Board Member.
"As Bolivia's first large-scale solar power system, we expect that this project will have a transformative impact in the region. Thanks to the combination of solar PV, energy storage, and diesel fuel generation in a single large-scale power plant, thousands of individuals in Bolivia now have access to reliable, clean electricity, which opens up dramatic possibilities for business development, education, and community empowerment," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of production capacity and shipments. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 10,000 MW of PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.
About Isotron
Isotron (company belonging to the ISASTUR Group) was established in 1989 with a view to preparing engineering projects and undertaking the supply, installation, commissioning and maintenance of electrical, instrumentation, regulation and control installations. Since the beginning, Isotron has displayed a strong international focus. This has led to important projects in geographical areas as varied as Europe (France, Holland, Belgium, Latvia, Lithuania, Russia, etc.), South America (Venezuela , Argentina, Bolivia, Chile, Colombia, Ecuador, Peru and Brazil), Central America (Costa Rica), Maghreb (Morocco, Algeria and Egypt) as well as in Angola, Yemen and Jordan. It currently enjoys a stable presence in Algeria, Argentina, Bolivia, Brazil, Chile, Peru, Uruguay and Venezuela.
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
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@yinglisolar.com
In Europe:
Rebecca Jarschel
Public Affairs & Public Relations Director
Yingli Green Energy International AG
Tel: +41 (0) 44 567 6143
Email: rebecca.jarschel@yinglisolar.ch
Carolina Calisalvo
Marketing & Communications Manager
Yingli Green Energy Spain
T: +34 91 843 67 26
E: ccalisalvo@yingli.com
In the Americas:
Helena Kimball
Head of Marketing
Yingli Green Energy Americas Inc.
Tel: +1-603-591-5812
Email: helena.kimball@yingliamericas.com
