BAODING, China, June 5 /PRNewswire-Asia/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy"), one of the world’s leading vertically integrated photovoltaic ("PV") product manufacturers, today announced that its PV modules will be installed in a 13 MW plant in the Czech Republic to be constructed by 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.
Pursuant to the Czech Republic’s current feed-in tariff, installations of more than 30 kWp are remunerated with CZK 12.79/kWh (approximately euro 0.48/kWh). According to S.A.G., the plant is the largest PV project in the Czech Republic currently. Construction of the plant is scheduled to begin in July 2009 for completion in the fall 2009. The plant is expected to produce an estimated 13,650,000 kWh of electricity per year -- enough to supply more than 3,000 households.
"S.A.G. stands for quality. This is why we only use high quality components for our PV power plants. Yingli has a proven track record from numerous projects at S.A.G. of delivering high quality modules with an excellent and reliable performance and yield. We are therefore looking forward to deploying Yingli modules in this important project," said Dr. Karl Kuhlmann, CEO of S.A.G. Solarstrom AG.
"We are very pleased that our partnership with S.A.G will result in this milestone PV project, the largest in the Czech Republic and the first in the country for both Yingli and S.A.G.," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "With an attractive
feed-in tariff, we believe the Czech Republic will play an increasingly important role in the global PV market in Europe. We are confident that our vertically integrated model, proven strategy and strong brand name will enable us to continue to succeed in existing and new solar markets around the world."
Through a series of supply agreements over the past four years, Yingli Green Energy has supplied a total of 68 MW of PV modules to S.A.G. for projects throughout Europe.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE) is one of the world’s leading vertically integrated PV product manufacturers. Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or operate on a stand-alone basis. Based in Baoding, China, Yingli Green Energy sells its PV modules to system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, South Korea, Belgium, France, China and the United States. 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" 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: +86-312-3100-502
Email: ir@yinglisolar.com
Courtney Shike
Brunswick Group LLC
Tel: +86-10-6566-2256
Email: yingli@brunswickgroup.com
In the United States:
Katie Cralle
Brunswick Group LLC
Tel: +1-212-333-3810
Email: kcralle@brunswickgroup.com
