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", announced that the Company has entered into supply agreements with Huanghe Hydropower Development Co., Ltd. ("Huanghe Hydropower"), a subsidiary of China Power Investment Corporation, for the supply of a total of 110 MW PV modules.
The modules are expected to be utilized for two ground-mounted solar projects constructed by Huanghe Hydropower. The Company is the largest supplier for these two projects. Under the terms of the agreement, the Company will supply 30 MW PV modules for a solar project located in Wulan, Qinghai province ("Wulan Project"), and 80 MW PV modules for a solar project located in Golmud, Qinghai province ("Golmud Project"). These modules are expected to be delivered from June through August of this year.
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented, "We are pleased to establish a business relationship with Huanghe Hydropower and supply our PV modules for the development of these PV power projects, which currently are the largest in China. This new business relationship represents our continued commitment to the China solar PV market, which has experienced rapid growth over the recent two years. These two projects will provide tens of thousands of people in Qinghai province with clean and safe power, as well as create green jobs and promote sustainable economic development of Qinghai province."