This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Yingli Green Energy And Munich Re Announce Performance Warranty Insurance Agreement

MUNICH, Germany and BAODING, China, Dec. 11, 2012 /PRNewswire/  -- 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 ("PV") manufacturers, which markets its products under the brand " Yingli Solar", today announced a module performance warranty insurance agreement (the "Agreement") with one of Munich Re's specialty primary insurers. According to the Agreement, Yingli Green Energy and Munich Re will provide additional economic security for large-scale commercial and utility project developers, investors and debt providers. The Agreement will cover Yingli Green Energy's multicrystalline modules sold from October 1, 2012 to September 30, 2013.(Logo: http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg)

In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli Green Energy for its performance warranty obligations. The Agreement covers the 10-year and the 25-year warranty on all multicrystalline Yingli Solar modules. It guarantees that within ten years multicrystalline Yingli Solar modules exhibit a power output of no less than 91.2% of the nominal power output specified on the module's original product label. Furthermore it covers multicrystalline modules within 25 years exhibiting a power output of no less than 80.7% of the nominal power output as specified on its original product label.

As an additional feature, Munich Re offers the complementary Option Cover insurance available to customers of Yingli Green Energy unlocking investment and financing capital.

"Our state-of-the-art manufacturing lines and choice of suppliers have conveyed trust and reliability to banks, investors and rating agencies. Our partnership with Munich Re serves as another powerful edge for differentiation in a highly-competitive market environment," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.

"This strategic alliance with one of the world's leading insurers represents an important milestone in the technical and performance de-risking of photovoltaic projects, thereby lowering the financing barriers that our customers experience during a business cycle where banks are more conservative," said Darren Thompson, Managing Director of Yingli Green Energy International AG.

"As utility scale project sizes continue to grow across the region, we have secured a module performance warranty insurance policy to support the reduction in cost of capital that will particularly benefit commercial and utility scale projects. This exemplifies once more our dedication to customer support at every stage of project development," said Robert Petrina, Managing Director of Yingli Americas.

"We are delighted to have concluded this contract to support Yingli in their forward-looking global growth plan. With our expertise, we can assume very special renewable energy risks and help provide greater investment security. We see considerable growth potential in risk transfer solutions for renewable energy," said Thomas Blunck, member of Munich Re's Board of Management.

In order to obtain further information on both the Corporate Policy and the Option Policy, please go to: www.munichre.com/gts .



1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs