Baoding, China and Tokyo Japan /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 Japan Corporation ("Yingli Japan"), has signed an agreement to supply 32 MWs of multicrystalline PV modules to a large-scale project located in Okayama, Japan.
According to the agreement, the Company will deliver approximately 108,000 YGE 72 Cell Series modules for the project from January 2015 to December 2015. The project is financed by GE Energy Financial Services and developed by Pacifico Energy K.K., a utility-scale solar project developer based in Tokyo. This project is expected to generate 37,000,000 KwH of solar power annually.
"We are very delighted to see the successful implementation of the project, thanks to the efforts of all theparties involved. We believe that high quality modules are a key factor for the development of PV projects and Yingli Solar is absolutely the best choice for the project," commented Mr. Kazuomi Kaneto, President of Pacifico Energy K.K.
"We are pleased to cooperate with Pacifico Energy K.K for the first time, and hope that our first project together is the beginning of a strong and long-standing partnership," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Our customer base in Japan has quadrupled since the fourth quarter of 2013, thanks to our strong reputation for product quality in the Japanese market. We look forward to deepening our relationships with our Japanese partners as this important emerging market continues to expand."
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 Pacifico Energy K.K.
Founded in 2012 to help meet Japan's domestic energy needs, Pacifico Energy is a Japanese power plant development company focused on solar photovoltaic projects. Pacifico Energy covers all aspects of solar power plant development, including permitting, design, financing, construction, and asset management. Based in Tokyo, Pacifico Energy's strength is in its team and investment partners consisting of professionals with deep solar industry and energy experience. The company is backed by the Jamieson Group, a Californiabased oil & gas/real estate enterprise with annual revenues of over USD $800 million. Pacifico Energy plans to start construction on 200MWdc of solar in 2014 comprised of 4 advance stage projects. For more information please see: www.pacificoenergy.jp
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.
SOURCE: Yingli Green Energy Holding Company LimitedCopyright 2014 PR Newswire. All Rights Reserved