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Yingli Green Energy Signs A EPC Contract With Senelec For A 2 MW Project

Stocks in this article: YGE

BAODING, China, July 15, 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 wholly owned subsidiary, Yingli Green Energy Spain, S.L.U (" Yingli Spain") has signed an Engineering, Procurement and Construction (EPC) contract with Senelec (Soci et e Nationaled'Electricit e de Senegal), the stated owned utility company of Senegal,for a 2MW ground-mounted PV plant, one of Senegal's flagship PV projects.

Yingli Solar Logo

According to the agreement, the Company will co-develop the 2MW project located in Dakar, Senegal with Senelec. The project will supply clean energy to the new international conference center Diamniadio in Dakar where the renowed "XV Francophonie Summit" will take place in November 2014. Construction will begin in July and the plant is expected to be in operation by November 2014. As the project's exclusive PV module supplier, the Company will supply its multicrystalline modules that, upon installation, will spread over approximately 2.5 hectares.The project is anticipated to generate 3.7 MWh of electricity per year, enough to power more than 1,000 typical homes in the area. 

"This project is an opportunity for Yingli Solar to integrate its technology in the west African energy market and an opportunity for Senelec to build the future of clean energy in Senegal. I hope this example of cooperation between Senelec and Yingli will be enlarged to various domains of Yingli technology. With this project, Senelec realizes the vision of the President Macky SALL, for an energy mix giving more place to clean energy ," said Mr Papa DIENG, General Manager of Senelec.

"We are pleased to realize this project together with the national utility company of Senegal. This turnkey project is a new milestone for the Company's development in emerging markets and will enhance our position as a solar energy solutions provider throughout Africa. We are committing to promoting the development of clean energy in Africa through our expertises and high-quality products," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.

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.

About SENELEC

Senelec is the national utility company entirely owned by the State of Senegal. Senelec is a vertically integrated utility, in charge of generation power, transmission, distribution and wholesale of electricity. During the last few years, Senelec has contributed up to 60% of the total power generation . The rest is provided by Independent  Power Producers. Significant changings are expected in the energy mix through the introduction of renewable energy sources and promotion of independent production. In that purpose,  Power Purchase Agreements have been signed with private partners in the field of renewable energies. It is planned to connect to the grid before year 2020, round 400 MW renewable energy including biomass. The 2MW solar power on grid- plant of Diamiadio is the first step toward this target. Senelec is very pleased to do it with Yingli Solar, one of the largest photovoltaic modules manufacturer in the world. Regarding the capabilities and the experience of Yingli Solar, Senelec is confident that the project will be achieved in time.  For more information, please visit our website: www.senelec.sn or contact: Senelec, 28, rue Vincens Dakar, BP 93, webmaster@senelec.sn, (221) 839.30.30/(221) 823.12.67.

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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