BAODING, China and MADRID, Spain, May 30, 2013 /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 that the Company has signed a contract to supply 96 MW of PV modules to the Jasper PV, located in South Africa's Northern Cape. This solar plant will not only produce clean energy for South African residents, but also create jobs and help to stimulate the local economy.
The consortium formed by Iberdrola Ingenieria y Construccion ("Iberdrola") and South African company Group Five has been selected by Jasper Power Company to build the Jasper PV Plant in South Africa, which will be powered by more than 325,000 Yingli YL295P-35b multi-crystalline modules spread across 180 hectares. Yingli Green Energy is the exclusive PV module supplier for this project.
This is a significant milestone in the history of Yingli Green Energy as the Jasper PV Solar Plant is one of the solar projects that was developed by a consortium led by SolarReserve, a U.S. developer of utility-scale solar power projects, and was selected by the South Africa Department of Energy (DOE) in May of 2012 in the second round of bids under the South Africa Renewable Energy Independent Power Producer Procurement Program (REIPPPP). The South Africa DOE awarded the construction of eight PV plants and seven wind farms during the second round of bidding.Iberdrola had selected Yingli Green Energy based on experience of performance yield in existing projects, superb quality and technology leadership. In addition, given that Yingli Green Energy is one of the major crystalline manufacturers to have secured Munich RE's module performance warranty insurance, the project will also be covered under Munich RE's Option Cover. The Option Cover provides greater investment security over the lifetime of the project financing.