Yingli Green Energy Enters Into a Supply Agreement with IBC for Supply of Up to 200 MW of PV Modules in 2012

Published on Monday, 30 January 2012 05:08 Written by TradersHuddle Staff

BAODING, China, Jan. 30, 2012 /PRNewswire-Asia/ -- 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," today announced that it has entered into a supply agreement (the "Agreement") with IBC SOLAR AG ("IBC"), one of the leading specialists in PV systems worldwide. Under the terms of the agreement, the Company has agreed to supply 180 MW of multi-crystalline and mono-crystalline (Panda) PV modules to IBC during the year of 2012. IBC has an option to purchase another 20 MW in 2012 under the Agreement. The modules are expected to be installed in Germany, other European countries, as well as globally.

"We are pleased to enhance our partnership with IBC," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Based on the strong faith that we have in each other, Yingli Green Energy and IBC have gone through the up-and-downs of the solar industry and achieved significant growth of our businesses during the past several years. We believe this Agreement demonstrates our partners' strong confidence in the continuous growth of the PV industry and indicates the robust demand of our products in 2012. We look forward to continuing our close cooperation with IBC and other partners to seize the enormous opportunities ahead."

Udo Moehrstedt, founder and CEO of IBC SOLAR, added, "We have been working very successfully with Yingli Solar for five years now. Foundation of the trustful cooperation between our two companies is the high quality of Yingli's modules, as well as the strategic strength of Yingli. IBC SOLAR will continue to drive the adoption of photovoltaics globally, and we consider Yingli as one of our partners in achieving this goal."

About Yingli Green Energy

Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of 1.7 GW per year. In addition, Yingli Green Energy's in-house polysilicon plant, Fine Silicon, which has a designed annual production capacity of 3,000 metric tons, has started commercial operation in early August 2010. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 11,000 employees and more than 10 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit http://www.yinglisolar.com.

About IBC SOLAR AG

IBC SOLAR is one of the world's leading photovoltaic specialists, offering complete solutions for generating electricity from sunlight. Founded in 1982, the firm covers the entire spectrum, from planning to the turnkey handover of photovoltaic installations. Retail sales is the most important distribution channel for IBC SOLAR, while the second largest area is the planning and realization of large-scale photovoltaic plants for commercial customers. Globally, IBC SOLAR and its eleven subsidiaries have already implemented more than 100,000 turnkey photovoltaic systems with a total power of more than 1.6 gigawatt (GWp).

SOURCE Yingli Green Energy Holding Company Limited