Unveiled Roadmap for PANDA Mono-crystalline Cell Conversion Efficiency
Secured 445MW PV Module Sales Contracts for 2011 Delivery
BAODING, China, Oct. 20 /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 manufacturers, which markets its products under the brand "Yingli Solar," today announced that it is hosting its third annual customer conference (the "Conference") at its Hainan facility between 20-22 October, 2010. On the first day of the Conference, the Company unveiled its roadmap for mono-crystalline cell conversion efficiency and also announced that, as the date of this press release, it has secured 445 MW PV module sales contracts for delivery in 2011.
Highlights from the Conference
Present at the Conference on the first day were more than 300 customers, business partners and representatives from PV industry associations and commercial banks.
Mr. Xiangdong Wang, Director and Vice President of Yingli Green Energy, delivered the opening address highlighting the theme of the Conference, which is "Quality, Brand and Responsibility". "We wanted to emphasize again that product quality is our top priority as always; brand promotion is a key to success and that corporate social responsibility is our long term mission."
Mr. Guoliang Li, Vice Governor of Hainan Province, announced that the provincial government will continue to provide strong support for the PV applications in Hainan with optimal natural sunlight conditions. Mr. Li also thanked the Company's contribution to the development of Hainan Province's clean energy industry and international tourism destination construction.
Unveiled Roadmap for PANDA Mono-crystalline Cell Conversion Efficiency
Dr. Dengyuan Song, Chief Technology Officer of Yingli Green Energy, unveiled the Company's roadmap for PANDA mono-crystalline cell conversion efficiency as follows. Based on the current average cell conversion efficiency of 18.5% achieved on the commercial production lines, the Company expects to increase the figure to 20% in 2012. Currently, the Company has achieved a new record cell efficiency of 19.49% on its trial production lines with third party verification from the Fraunhofer Institute for Solar Energy Systems ISE in Germany.
445 MW PV Module Sales Contracts Secured for 2011 Delivery
The Company also announced that, as the date of this press release, it has entered into sales contract under which a total of 445 MW of PV modules are expected to be delivered in 2011. Customers under the majority of these contracts are required to make prepayments to the Company to ensure committed delivery in 2011.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar", is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced production capacity of 1 GW per year. Two capacity expansion projects of 600 MW and 100 MW are under construction in Baoding and Hainan, respectively, are expected to start initial production since the middle of 2011 and increase the Company's total capacity to 1.7 GW. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, has successfully started commercial operation in early August 2010. Yingli Green Energy distributes its 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 7,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). 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," "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 Director, Investor Relations Yingli Green Energy Holding Company Limited Tel: +86-312-3100502 Email: ir@yinglisolar.com In the Americas: Judy Tzeng Lee Director of Corporate Development Yingli Green Energy Holding Company Limited Tel: +1-510-8473920 Email: judy@yinglisolar.com In Europe: Rebecca Jarschel Brand Manager Yingli Green Energy Europe GmbH Tel: +49-89-540303412 Email: rebecca.jarschel@ygee.eu
