BAODING, China, May 8, 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 its Turkish subsidiary, Yingli Green Energy Enerji Urunleri San. ve Tic. Ltd. Şti (Yingli Turkey) will supply 30 MW of multicrystalline PV modules to Tekno Ray Solar Enerji Sistemleri San. Tic. Ltd. Sti (Tekno Ray Solar), Turkey's fastest-growing solar energy company.
According to the agreement between Yingli Turkey and Tekno Ray Solar, 30 MW of Yingli Solar modules will be delivered in installments from the second quarter of 2014 through the first quarter of 2015. The high quality YGE Series modules will be installed in several large scale solar projects in the southern part of Turkey.
"In Turkey, which has Europe's richest solar resources, we believe that we need to utilize the sun in order to contribute to both the economy and the environment. At Tekno Ray Solar, we have blazed a trail in large-scale PV project development. We selected Yingli Solar because of the company's strong brand and high-performance, high-quality product," said Mr. Altay Coşkunoğlu, Chairman of the Executive Board of Tekno Company Union." Yingli Solar's global experience and market leadership are an asset to Tekno Ray Solar, one of Turkey's leading PV project developers. Establishing partnerships with Turkey's leading PV project investors is a key driver of our strategy," said Dimitrios Bachadakis, Director of Yingli Green Energy South East Europe. "We are delighted to reach a new milestone in the market development in Turkey with Tekno Ray Solar, with whom we have partnered on many projects, including Turkey's first medium voltage ground-mounted project in MW size with grid connection and the first self-consumption project in the Akdeniz Region. We look forward to enhancing our presence in this high-potential solar energy market," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. About Tekno Ray Solar Tekno Ray Solar has been established as a Joint Venture with Enerray, which is owned by Maccaferri Group of Italy. Tekno Ray Solar aims to be the leader in Turkish photovoltaic market. Enerray's experience in solar systems for over 200.000 kW of installations and Tekno's experience in installation and after sales services will be valuable assets to Tekno Ray Solar's customers. Tekno Ray Solar will be offering custom tailored systems designed with the most efficient and advanced technology available as well as remote monitoring, O&M services. 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts