This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Yingli Green Energy To Supply 28 MW Of PV Modules For The State Grid Corporation Of China

Stocks in this article: YGE

BAODING, China, Sept. 11, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic ("PV") manufacturer, which markets its products under the brand " Yingli Solar", today announced that its wholly-owned subsidiary, Yingli Energy (China) Company Limited (" Yingli China"), will supply 28 MW of multicrystalline YGE Series PV modules to the State Grid Corporation of China ("SGCC"), the world's largest utilities company. SGCC is a state-owned enterprise approved by the State Council to conduct government authorized investment activities and has been ranked the 7th in the Fortune Global 500 in 2013.

(Logo: http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg )

Yingli Green Energy's modules will power the largest out of three solar projects being developed by SGCC in Zhangbei County, Hebei Province. These installations, totaling 60 MW, are part of the second phase of China's National Wind/PV/Energy Storage and Transmission Joint Demonstration Project ("the Project"). According to the relevant requirements of the bid documents, the Company will complete module delivery in the fourth quarter of 2013.

The Project is an innovative demonstration that integrates different renewable energy technologies with smart transmission and storage technologies with the goal of predictably and reliably delivering green energy across the grid at-scale. The Project will help SGCC fulfill its goal of creating a "Strong & Smart Grid" while also expanding renewable energy capacity in China.

"We are honored to have the opportunity to collaborate with SGCC again and to provide our high-quality PV modules for this high-profile energy demonstration project," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We were selected for this project because of our leadership position in the domestic market, and we are pleased to note that the bidding results demonstrate that the price gap between China and overseas markets is narrowing as supply and demand fundamentals in the Chinese solar market are strengthening, helping to further improve our profitability."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand " Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of shipments. With 2,450 MW of vertically-integrated annual production capacity, 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 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW PV modules to customers worldwide. For more information please visit www.yinglisolar.com and join the conversation on Facebook, Twitter and Weibo.

About SGCC

SGCC was established on December 29th, 2002. It is a state-owned enterprise approved by the State Council to conduct government authorized investment activities. SGCC was ranked the 7th in the Fortune Global 500 in 2013, and is the largest utility in the world. The mission of the company is to provide safe, economical, clean and sustainable electric power for social and economic development. The company's core businesses are the construction and operation of power network that covers 26 provinces, autonomous regions and municipalities. For more information please visit www.sgcc.com.cn.

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs