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Yingli Green Energy Announces Largest Module Supply Contract in Company's History
200 MW of Yingli Solar PV Modules Selected by Fluor Corporation for LS Power's Centinela Solar Energy Facility in Southern California
By: PR Newswire
Nov. 27, 2012 10:22 PM
BAODING, China and SAN FRANCISCO, Nov. 27, 2012 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "Yingli Solar", today announced that its subsidiary, Yingli Green Energy Americas ("Yingli Americas"), has entered into the Company's largest project supply agreement to date. Yingli Americas was selected to supply 200 MW-dc of utility-scale solar PV modules for the Centinela Solar Energy Facility Project ("Centinela Project"), which is segmented in two phases, each phase with a separate release notice, currently pending notification for the second phase. The 170 megawatt-ac project, designed to be one of the largest solar projects in the world, is situated on 1,600 acres approximately 90 miles east of San Diego in Imperial County, California, and is estimated to achieve commercial operation in the middle of 2014.
Mr. Robert Petrina, Yingli Americas' Managing Director, explained, "The expansion of the utility-scale market in the U.S. is instrumental in securing our country's clean energy future. We are proud to be chosen for this milestone project that demanded the highest levels of product and performance guarantees. We are now working with several of the top utility companies in the nation, and are cementing our reputation as the ideal module supplier for large-scale projects."
"Yingli Americas has methodically established itself as the partner of choice for utility-scale projects across the U.S. By establishing a superior process to address both the commercial and technical hurdles such projects present, we are extremely confident in our ability to execute such mega projects," commented Mathew Sachs, Yingli Americas' Director of Business Development.
Centinela Solar Energy, LLC, a member of the power generation and transmission project developer, LS Power Group, recently awarded Fluor Corporation the lump-sum engineering, procurement, and construction (EPC) contract, as well as the operations and maintenance service contract for the Centinela Project. The power generated by the installation will be purchased by San Diego Gas and Electric through 20-year power purchase agreements with Centinela Solar Energy, LLC. The facility, which will generate enough electricity to power more than 60,000 homes, is one of the first significant projects to feed into the Sunrise Powerlink Transmission Line.
John King, Executive Vice President of LS Power, said, "We're pleased to work with a module supplier that proves their commitment to reliability with competitive warranty terms. We are confident in Fluor Corporation's selection of Yingli Americas for this significant module supply deal."
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, added, "We recognize that our announcement of the largest project in Yingli's history comes during a challenging time in the global solar industry. Our team remains dedicated to its core business, and we are honored to continue delivering these remarkable results."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar", is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China, Japan and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statementswithin 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 terminologysuch as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similarstatements. Such statements are based upon management's current expectations and current market and operatingconditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which aredifficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli GreenEnergy's actual results, performance or achievements to differ materially from those in the forward-lookingstatements. Further information regarding these and other risks, uncertainties or factors is included in Yingli GreenEnergy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake anyobligation to update any forward-looking statement as a result of new information, future events orotherwise, exceptas required under applicable law.
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SOURCE Yingli Green Energy Holding Company Limited
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