Yingli Green Energy Holding Company Limited, the vertically integrated photovoltaic ("PV") module manufacturer in the world, known as "Yingli Solar," announced on January 27th that its wholly-owned subsidiary, Yingli Green Energy Singapore Company Pte. Limited will supply 2 MW of solar modules to Maqo Technologies (M) Sdn Bhd. ("Maqo Solar"), one of Malaysia's fastest-growing residential solar energy providers. The Company's multicrystalline YGE Series solar modules, which will be delivered throughout 2014, will generate enough electricity for approximately 500 typical Malaysian homes.
Today's new supply agreement further expands the Company's significant presence in Malaysia, where the Company has 11.3 MW of solar modules installed during 2013. In total, these installations could generate approximately 11,570 MWh of electricity per year, which is enough to power roughly 2,820 typical Malaysian homes.
"We are delighted to continue working with Yingli Green Energy and to maintain our strong partnership that's been in place since 2011. We are firmly committed to developing and providing green energy solutions to Malaysia, and believe that Yingli Green Energy is undoubtedly our best solar module provider," said Colen Lau, General Manager of Maqo Solar.
"We are pleased to announce today's supply agreement with Maqo Solar, which marks the expansion of our exemplary, committed partnership," commented Angie Koh, Business Development Director of Yingli Singapore. "We value Maqo Solar as a key strategic partner in Southeast Asia, and anticipate that our relationship will spur the development of green energy solutions across Malaysia."