Aug. 11, 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 "
," today announced that its wholly owned subsidiary, Yingli Green Energy Spain, S.L.U. ("
") has signed a 31.6 MW supply agreement with Gestamp Solar, a leading Spanish developer and operator of utility-scale PV systems for a solar power plant in Daigo,
According to the agreement, the Company will deliver more than 125,000 multicyrstalline YGE 60 Cell Series modules to Gestamp Solar from
. The 31.6 MW solar power plant will be situated on a former golf course in the town of Daigo, located in
. The system is expected to generate approximately 32.730 GWh\year of clean electricity, and utility grid interconnection is anticipated in the second quarter of 2015. This is the first solar project developed by Gestamp Solar in
, and is also one of the largest utility-scale projects to be developed by a foreign company in
. Gestamp Solar is the sole proprietor of the project.
"This is an important milestone for Gestamp Solar. It is the largest single solar project to secure non-recourse financing in
and we are confident to see more projects on a similar scale in the future," said Mr.
, Chief Executive Officer of Gestamp Solar.
"This is not the first collaboration between
and Gestamp Solar. In 2012, a 20 MW plant was built in Moquegua,
and Yingli was the sole PV module supplier. Gestamp Solar is a long-term strategic partner for us, and we look forward to a continuous and fruitful cooperation in the future," said Mr.
, the Managing Director of
"We are pleased to see this achievement build on the company's track record of success in
, which includes our 32 MW project in Okayama,
announced in July," commented Mr.
, Chairman and Chief Executive Officer of Yingli Green Energy. "The Company's shipments to
increased by more than 50% in the first quarter of this year as compared to the fourth quarter 2013. Our success in this important emerging market is key to Yingli's corporate strategy, and we look forward to further supporting the growth of solar PV in
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 10,000 of MW PV modules to customers worldwide. For more information, please visit
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About Gestamp Solar
Gestamp Solar (
), the photovoltaic energy division of Gestamp Renewables, is focused on the development, construction, operation and maintenance of solar power plants in
the United States
and Spain, and has developed constructed over 500 MWs Solar Energy projects to date.
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.