BAODING, China, April 21, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the largest vertically integrated photovoltaic ("PV") module manufacturer in the world, known as " Yingli Solar," today announced that the Company's subsidiaries in China and France agreed to cooperate with a leading French PV module manufacturer ("French Partner") to join forces to satisfy the requirements of the French national tender program ("French National Tender Program") under which the French Partner won large-volume tenders, according to the French Partner. The two leaders' co-branded products will be manufactured in France and powered by Yingli Solar's high performance solar cells.(Logo: http://www.prnasia.com/sa/2012/04/01/20120401160439160364.jpg )
Under conditions to be detailed in subsequent agreements, the French Partner will manufacture PV modules in France using Yingli Solar's polycrystalline cells with optimized carbon footprint technology. As a globally leading manufacturer of crystalline polysilicon PV products, Yingli Green Energy expects to ensure state-of-the art cell technology with the expertise of a fully vertically integrated manufacturer combined with its French Partner's downstream expertise and local assembling capacity.
In the recent rounds of public tenders under French National Tender Program, 17 out of 38 PV developers won projects with modules resulting from the partnership, representing 185 MW out of 380 MW in total, all of which have been approved by the French government, according to our French Partner. The projects are expected to be installed within the next 24 months. In addition to the purchase price of electricity to be produced, the French authorities appreciated the low carbon footprint of the projects and their contributions to research and development, innovation, and employment in France.
"Roughly 50% of the projects in the recent rounds of public tenders under French National Tender Program are expected to use locally made modules powered by cells supplied by Yingli," said Arnaud Catrice, Managing Director of Yingli France, a wholly-owned subsidiary of Yingli Green Energy. "This clearly demonstrates that project developers trust this alliance will have a long-term positive impact on the French PV industry. The partnership will not only reinforce our leading positions in French market, but also contribute for a promising local solar industry in a long run.""We are delighted to join forces with our distinguished French partner and demonstrate once more the weight and importance of international cooperation for the development of solar PV as an affordable and clean source of energy in the global energy mix. PV module manufacturing is part of the value chain, and it creates local jobs that bring value to the country in which the modules are installed," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. The national tender system in France is applied for solar projects with installation capacity above 250 kW. The project developers or owners are required to enter a national solar tendering program, French National Tender Program, held by the Commission de Regulation de l'energie, or Energy Regulation Commission (CRE). According to public information, a total of up to 400 MWs of solar projects have been selected following a ranking method based on, among other criteria, the purchase price of electricity to be produced, the project's carbon footprint, and its share of and contribution to innovative research and development. Following the project ranking conducted by the CRE, the Ministry of Energy of French validates the winning projects to be built and grid-connected within 24 months. 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 9,000 MW PV modules to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversation on Facebook, Twitter, and Weibo. 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.
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