Yingli Green Energy Holding Company Limited, the vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar", announced on January 14th that its wholly-owned subsidiary, Yingli Green Energy Japan Corporation Ltd. ("Yingli Japan") has entered into a distribution agreement with XSOL Co., Ltd., a Japanese solar energy company and full-service PV system provider.
Under the terms of the agreement, XSOL will sell and promote YGE 60 Cell Series modules since the middle of January 2014 in Japanese market. Yingli Green Energy was the first solar module manufacturer to obtain TUV Rheinland's JIS Q 8901certificate, which certifies that Yingli modules meet the strict reliability requirements of Japanese consumers. YGE Series modules are also certified by TUV Rheinland to withstand challenging environmental conditions such as salt mist and ammonia.XSOL sold over 137 MW of PV modules and systems in Japan through its over one thousand sales dealers/installers in the past fiscal year 2012/13 (ended May 31, 2013).
"XSOL has made a breakthrough in the Japanese PV market, which has expanded significantly in recent years. Our partnership with Yingli Solar is a pillar of our solar module strategy, and we believe it will be an important driver of our company's growth, as well as the growth of the Japanese market," said Mr. Takumi Kashiwa, Chief Executive Officer of XSOL Co., Ltd.
"We are very pleased to partner with XSOL, which has successfully expanded from Japan's residential sector into the commercial market," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "T his agreement will help Yingli meet its strategic three-to-five year sales goals for Japan. By synthesizing our companies' advantages and experience in the global PV market, we firmly believe that both parties will benefit from this cooperation."