BAODING, China, Aug. 26 /PRNewswire-Asia-FirstCall/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), one of the world's leading vertically integrated photovoltaic ("PV") product manufacturers, and CTP Invest spol. s r.o. ("CTP"), a Czech-based leading commercial property developer, today announced that they have signed a letter of intent regarding the supply of PV modules by Yingli Green Energy to CTP.
Under the terms of the letter of intent, CTP is expected to purchase approximately 5 MW of PV modules from Yingli Green Energy in the fourth quarter of 2009, which are expected to be used for several on-grid rooftop systems in CTP's industrial parks and office centers located in the Czech Republic.
"We believe Yingli is a value-added partner with its leading position in the industry, trusted brand name and a solid track record. We expect to enter into binding contracts with Yingli based upon this letter of intent in the following weeks and we look forward to pursuing additional cooperation opportunities in Central and Eastern Europe," commented Mr. Remon L. Vos, Managing Director of CTP.
"We are delighted to announce the cooperation with CTP, which represents a solid step we have achieved to explore the Czech Republic market," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We have delivered more than 10 MW PV modules to customers in the Czech Republic this year, and we believe the cooperation with CTP further demonstrates our strong ability to capture market share in emerging markets. With the gradually improving financing conditions and recovering market demand in Germany and other European markets, we are excited about the upcoming new growth cycle for solar in 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: cshike@brunswickgroup.com
In the United States:
Katie Cralle
Brunswick Group LLC
Tel: +1-212-333-3810
Email: kcralle@brunswickgroup.com
