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 manufacturers, which markets its products under the brand "Yingli Solar", today announced the establishment of its regional headquarters in Sydney, Australia.
In order to strengthen business practices and further business development in Australia, Yingli Green Energy has set up a wholly-owned subsidiary, Yingli Green Energy Australia Pty. Ltd. ("Yingli Australia"). Through this new office, the Company will provide direct sales of Yingli Solar modules and services to customers in this region.
"Australia is one of the most promising markets in the solar industry. We are happy to enhance our local presence by establishing this subsidiary, which will enable us to provide more convenient products and services to Australian customers," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
"Australia is one of the sunniest continents on earth with a great environment and acceptance of solar energy products. Yingli Australia will leverage the Company's global skillset, systems and staff knowledge, particularly from operations in Europe and America, to support the local subsidiaries entry to domestic and commercial solar PV marketplace," commented Mr. Lucas Sadler, Managing Director of Yingli Australia. "In addition to immediate local business opportunities, the new Australian branch will be seeking to distribute Yingli Solar panels to the New Zealand and Pacific Islands region."