July 22, 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 "
", has expanded its footprint in the Americas by opening the Company's third Latin American office in
To facilitate the opening of the new office and Yingli's growth in the Chilean solar market, Yingli has brought on Mr.
to serve as Managing Director of Yingli Green Energy Chile. Under his leadership, the
office will initially focus on the country's burgeoning utility-scale solar market segment, where Mr. Muhn will build on the Company's track record of success in supplying large-scale solar plants in
. Thanks to its strong partnerships with leading global project developers and EPCs operating in
, Yingli has already deployed more than 25 megawatts (MW) of solar modules in
is a high-potential solar market and home to some of the strongest solar irradiation in the world, particularly in the Atacama Desert," noted Mr.
, Managing Director of Yingli Green Energy Chile, "While we see tremendous growth potential in
utility-scale market, we also anticipate that the country's relatively high electricity prices and strong solar resources will provide a foundation for a thriving and sustainable distributed generation market in the future."
As demonstrated by the Company's long-standing presence in the region, the South and Central American solar energy markets are a major strategic priority in Yingli's long-term global development plans. In addition to Yingli's permanent offices in
, São Paolo, and
, the Company also maintains warehouses and inventory in both
, which expedite and streamline regional module deliveries.
"Our continued investments in
are a reflection of our confidence in this key emerging market's long-term growth potential," said Mr.
, Vice President of International Sales at Yingli Green Energy Americas. "Thanks to our strong team of professionals across the region, we are establishing lasting partnerships with pioneering companies to help drive the expansion of solar PV across
, the Latin American region is expected to install over 700MW of solar panels in 2014,
to GTM Research. Industry analysts also predict that solar demand in the region will exceed one gigawatt in 2015 and achieve a 50% annual growth rate for the next several years.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "
," 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,
, 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
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