Yingli Green Energy is the exclusive PV module supplier for the project.
BAODING, China, July 28, 2011 /PRNewswire via COMTEX/ —
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 (PV) manufacturers, which markets its products under the brand “Yingli Solar,” today announced that its PV modules have been installed in the largest solar plant in Greece. The 10 MW utility-scale solar project is located in Larissa, Greece and is expected to produce enough energy to power approximately 3,700 homes in the area.Yingli Green Energy is the exclusive PV module supplier for the project.
The project was developed by Selected Textiles S.A. (ATHEX:EPIL) (“STIAFILCO”), a Greece-based textiles group, through its wholly owned subsidiary, Selected Energy S.A., which specializes in the development and operation of renewable energy sources projects and has many years of experience in the PV and biomass sectors.
The project was constructed by Biosar Energy S.A. (“Biosar”), a Greece-based solar system specialist offering integrated solutions in the areas of design, supply, construction and maintenance of medium and large-scale PV systems.
The project was financed on a long term, non-recourse basis from the Project Finance team of Piraeus Bank. Piraeus Bank Group is the leading bank in Greece in green business financings, with a strategic commitment to continuously supporting the renewable energy sector.
“We are pleased to cooperate with STIAFILCO and Biosar to complete the largest solar plant in Greece,” said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “Because of the country’s favorable natural solar irradiance and the Greek government’s strong commitment to renewable energy, Greece is considered an important market for PV. We continue to see increasing demand for our premium-quality solar products, which further confirms our leadership position in this market.”
About Selected TextilesS.A.
Selected Textiles S.A. (“STIAFILCO”) is one of the largest vertical integrated producers of cotton yarns in Europe. STIAFILCO has more than 350 employees and exports cotton yarns to more than 35 countries worldwide. The 10 MW solar plant in Larissa, along with the planned 5.25 MW biogas plant, a 5 MW biomass plant and a 5 MW photovoltaic rooftop installation within 2011, are part of STIAFILCO’s strategic expansion in the renewable energy sector. STIAFILCO is publicly listed on the Athens Stock Exchange (ATHEX: EPIL). For more information please visit http://www.stiafilco.com
About Biosar Energy S.A.
Biosar Energy S.A. (“Biosar”) was founded in 1999 with a clear mission to develop and operate power stations from renewable energy sources. Biosar offers integrated solutions in the areas of design, supply, construction and maintenance of medium and large-scale PV systems, acting as an EPC contractor in Greece, Italy and Bulgaria. Today, Biosar is a member of ELLAKTOR S.A which is one of the largest construction groups in Greece. ELLAKTOR S.A acts as a powerful entrepreneurial center for project management, holdings and concessions in the fields of infrastructure, real estate and energy. By combining extensive experience in the renewable energy sources sector with ELLAKTOR Group’s reliability, Biosar’s total installed capacity will exceed 100 MW by the end of 2011, making Biosar one of the most successful solar energy companies. For more information, please visit http://www.biosar.gr/.
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. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of over 1 GW per year. Two capacity expansion projects of 600 MW and 100 MW are under construction in Baoding and Hainan, respectively, which are expected to start initial production in the middle of 2011 and will increase the Company’s total nameplate capacity to 1.7 GW in late 2011. In addition, Yingli Green Energy’s in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, has successfully started commercial operation in early August 2010. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 11,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit http://www.yinglisolar.com.
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.