Yingli Green Energy Holding Company Limited (NYSE: YGE) announced that it has entered into an exclusive agent agreement, and a 10 MW PV module distribution contract, with YHS Co., Ltd. ("YHS"), a joint venture of West Holdings Co., Ltd. ("WHD"), one of the largest construction companies for residential rooftop solar power systems in Japan; and with Super Tool Co., Ltd. ("Super Tool"), a Japan-based specialist of wrench components and hardware tools.
Under the terms of the relevant agreements, YHS is expected to purchase 10 MW of PV modules from the Company in the second half of 2011, and will be appointed as the Company's exclusive agency in Japan for sales of PV modules within the Japanese residential market, effective from March through December 2011.
"We are pleased to announce this meaningful step that we took in expanding our sales within the Japanese solar market," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We believe by cooperating with YHS, which enjoys strong support from WHD in the areas of distributing, marketing and selling imported PV modules in Japan, we will be better positioned in assessing and responding to the needs of our Japanese customers."
Mr. Miao continued, "In light of the recent events in Japan, more countries and regions are expected to switch towards safer, cleaner and lower carbon energy generation sources which increases the need for renewables. As a leading solar energy company, we are committed to meeting these increasing demand worldwide."
