Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a 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 at Intersolar North America, that its U.S. subsidiary, Yingli Green Energy Americas, Inc. ("Yingli Americas"), has reached several significant business and product development milestones.
Yingli Americas Expected to Capture 15% of North American Solar Market
With cumulative shipments of 250 MWs to 23 U.S. states, as well as to Canada, Mexico and the Caribbean, Yingli Americas has become a leading module supplier in North America. During the first half of 2011, Yingli Americas delivered more PV modules than during the full year 2010. The Company expects Yingli Americas to capture nearly 15 percent of the North American solar market in 2011. Yingli Americas' customers are diversified across the commercial, residential and utility segments.
In perspective, 250 MWs of solar modules could provide enough energy to power 50,000 typical U.S. homes. It would have also been enough to supply the grid-tied PV installations nationwide in the first quarter of 2011, which grew 66% year-over-year to reach 252 MWs, according to the Solar Energy Industries Association.
"This milestone exemplifies Yingli Americas' commitment to building long-term partnerships, providing outstanding customer service, and always delivering on our commitments," said Robert Petrina, Managing Director of Yingli Americas. "We are immensely grateful to our customers, extremely proud of our exceptional organization, and believe that our strong partnerships across the industry are the foundation of our continued growth."
Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy, commented, "As today's announcement demonstrates, we are fully dedicated to the Americas and have established excellent resources to support our customers locally. We expect this ever-growing market would comprise over 15% of our global sales in 2011, and will be a pivotal driver for realizing our vision of a clean energy future."
Release of Zep Compatible(TM) YGE-Z Series Modules
Yingli Americas has been focusing on expanding its product portfolio, evidenced by today's release of the YGE-Z Series ("Z Series") module. Through a strategic licensing agreement with Zep Solar, an innovative module mounting manufacturer, Yingli Americas has incorporated the patented Zep Groove feature into its 240 Watt product family. The Z Series is also optimized for use with Enphase Microinverters.
Ideal for residential and commercial projects, the new Z Series reduces installation labor costs by over 25 percent, eliminates extraneous hardware through Zep Solar's ultra-low parts count, and provides an attractive roof-integrated look with a sleek black frame,low profile, and aesthetic skirt. Installers can also lock the new Zep Compatible Enphase Microinverter into the Z Series module groove in one easy step to simplify design and lower installation time. A preview of this integrated solution will be displayed in Yingli Solar's booth at Intersolar North America (Moscone West, Level 2). The Zep Compatible Enphase Microinverter will be available the fourth quarter of this year.
"Expanding our product portfolio to meet our diverse customer needs is a critical component of our growth strategy. Following the successful launch of our high-efficiency PANDA module, the Z Series reflects our collaboration with customers and supply chain partners to innovate on system-wide design and to drive down system costs," said Mathew Sachs, Director of Business Development, Yingli Americas.
Opening R&D Facility in San Francisco Bay Area
Yingli Americas also announces the opening of a new research and development facility in South San Francisco for comprehensive product testing and evaluation.
"Our new research and development lab will accelerate our understanding of module performance and reliability," said Brian Grenko, Director of Operations for Yingli Americas. "This investment will enable us to more quickly evaluate new technologies, deliver next generation products, and better serve our customers throughout all stages of a project's life cycle."
"We now have the ability to offer product testing and development support within the U.S. for our customers here," added Mr. Petrina. "We plan to use this new facility to proactively address market opportunities and trends to better support our pre- and post-sales efforts - a sign of our continued dedication to technical leadership."