Yingli Green Energy Signs Sales Contract With EDF Energies Nouvelles
Yingli Green Energy Holding Company Limited (NYSE: YGE) (“Yingli Green Energy” or the “Company”), one of the leading vertically integrated photovoltaic (PV) product manufacturers in China, today announced that it has signed a sales contract with EDF Energies Nouvelles (Paris: EEN) (“EDF”) under which Yingli Green Energy will supply 7 MW of PV modules that are expected to be delivered in 2008. Under the sales contract, EDF has an option to order another 6 MW of PV modules in 2008.
“Yingli Green Energy and EDF both aim to provide efficient solar energy solutions and to achieve superior performance. We believe that product quality and customer service have always served as the foundation of our customer relationships, and we look forward to building a long-term relationship with EDF in the coming years,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “This sales contract will help us diversify our customer base and further build our presence in the European market.” Mr. Miao continued.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited is one of the leading vertically integrated photovoltaic (PV) product manufacturers in China. Through the Company’s principal operating subsidiary in China, Baoding Tianwei Yingli New Energy Resources Co., Ltd., Yingli Green Energy designs, manufactures and sells PV modules and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. With 200 MW of total annual production capacity in each of polysilicon ingots and wafers, PV cells and PV modules, Yingli Green Energy is currently one of the largest manufacturers of PV products in China as measured by annual production capacity. Additionally, Yingli Green Energy is one of the limited numbers of large-scale PV companies in China to have adopted vertical integration as its business model. Yingli Green Energy currently plans to gradually expand annual production capacity of polysilicon ingots and wafers, PV cells and PV modules to 400 MW by the end of 2008 and to 600 MW by the end of 2009. Yingli Green Energy sells PV modules under its own brand name, Yingli Solar, to PV system integrators and distributors located in various markets around the world, including Germany, Spain, Italy, China and the United States.
About EDF Energies Nouvelles
Founded in 1990, EDF Energies Nouvelles is a world-class player in the green electricity generation market. With a presence in 9 European countries and in the United States, EDF Energies Nouvelles operates in four renewable energy segments (wind, solar, biomass and hydro). EDF Energies Nouvelles is a 50%-owned subsidiary of the EDF group. Since 28 November 2006, EDF Energies Nouvelles has been listed in Compartment A of Eurolist by Euronext Paris (code: EEN, ISIN code: FR0010400143).
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”"expects,”"anticipates,”"future,”"intends,”"plans,”"believes,”"estimates” and similar statements. The forward-looking statements in this press release include, among other things, the Company’s expectation of the anticipated time frame for the delivery of the PV modules under the contract and the Company’s expectation of the diversifying of the Company’s customer base and the further building of its presence in the European market. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy’s control, which may cause Yingli Green Energy’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy’s filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.