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BAODING, China, Sept. 22, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar," today announced that it will supply over 24 megawatts (MW) of solar PV modules for the Pavana Solar Park, which is the largest solar power plant to break ground in Honduras. The project is owned by Energia Basica S.A. ("ENERBASA"), a Honduran energy company. Sybac Solar, a leading global solar integrator based in the United States, will provide engineering, procurement and construction (EPC) services.
Located in the city of Choluteca in southern Honduras, the Pavana Solar power plant is expected to be the largest solar project to connect to the country's national utility grid. Yingli will deliver nearly 80,000 large-format YGE 72 Cell Series modules to the project site from October through November 2014, and interconnection is expected to take place during the first quarter of 2015. Forecasts indicate that the system will generate approximately 40,000 megawatt-hours annually, which is equivalent to the annual electricity consumption of about 61,000 Honduran citizens.
"Thanks to projects like the Pavana Solar Park, our Central American footprint is growing quickly," noted Mr. Robert Petrina, Managing Director of Yingli Green Energy Americas. "Yingli's strategy in Latin America is to invest in sophisticated local operations and forge deep partnerships with the region's market leaders, including ENERBASA and Sybac Solar. As the pace of solar PV project development and construction accelerates in Latin America, our dedicated local presence has become a powerful differentiator."
"We are thrilled to contribute to Honduras' largest solar project to date, which will help the country reach its goal of meeting sixty percent of domestic electricity demand with renewable resources by 2020," commented Mr. Jeffrey Barnett, Vice President of International Sales of Yingli Green Energy Americas. "Thanks to a robust regulatory framework for renewable energy that includes net energy metering, a feed-in tariff, and tax incentives, Honduras is one of highest potential solar PV markets in Central America."
"We are proud of developing the first utility-scale solar project in Honduras and one of the largest in the region, thanks in part to the financial institutions that support us, to our shareholders that are devoted to investing in Honduras, and to our partnership with Yingli, which allows us to leverage economies of scale to deliver high quality, high value renewable energy solutions to Hondurans," noted Mr. Armando Ayes, ENERBASA´s General Manager. ¨This project demonstrates how our fast-track development model is ideally suited to the Honduran government's strategic renewable energy initiatives. Our group is eager to replicate this model throughout Latin America, and we are actively pursuing opportunities to develop projects using a broad range of renewable energy technologies."
"We have a strong track record of success partnering with Yingli as our key supplier for projects across the Americas, so we trust their dedicated Latin American team to deliver both high-quality products and excellent service," commented Mr. Markus Falz, Chief Executive Officer of Sybac Solar.
"We hope that this groundbreaking project will be the first of many Yingli Solar power plants in Honduras," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "By utilizing the region's vast solar potential, projects like the Pavana Solar Park are helping the nation create local jobs, reduce dependence on fossil fuels, and serve as a model for other Central American countries seeking to expand renewable energy generation."
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 ENERBASA
ENERBASA is an affiliate of Luz y Fuerza de San Lorenzo S.A. de C.V. (¨LUFUSSA¨), a company which is a key member of a Honduran corporate business group, which include power generation plants with an installed capacity of 581 MW throughout the Central American region. ENERBASA´s sole purpose is the development of the Pavana Solar power plant, however the project is being directed by LUFUSSA´s development team which have a proven track record of over 21 years in the industry. The group´s vision is currently focused on continuing to invest in renewable energy and seeking to develop strategic partnerships in order to actively participate in the consistent growth of photovoltaic and other renewable energy projects in the Latin American Region. For more information, visit www.lufussa.com or send inquiries to enerbasa@deresahn.com.
About Sybac Solar
Sybac Solar develops, engineers, builds, owns, and operates solar PV facilities in the United States and Latin America. Sybac is one of the largest solar integrators in the South East United States and has a proven track record of successful project development.
Sybac Solar was established in 2009 and is headquartered in Orlando, Florida. Sybac Solar retains in-house development, engineering, and construction management teams, minimizing the need to subcontract these services and ensuring a highly efficient development cycle. The company's experienced leadership team emphasizes attention to detail and customer service in all phases of the development process. For more information, visit www.sybacsolar.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 about Yingli Green Energy, please contact:
In China
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: ir@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
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
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